In the last decade or so, small and medium businesses (SMBs) have been adopting analytics for various reasons ranging from cost, skill to various aspects regarding complexity and success of analytics projects.
Big Data has become a buzzword with many providers getting into the game. But the challenge is for enterprises to focus on customized solutions at an effective cost. That's where this Bangalore based startup,is making a difference in a unique way for a lot of startups, SMBs and enterprises.
Their core product is their analytics app store which is called "theanalyticstree" that has predefined domain and content rich analytic apps built for various industry segments that businesses can choose from, connect with their internal enterprise apps and focus on providing an analytics platform to solution designers who can use Nanobi's analytics platform and publish the developed analytics app on the app store and engage in a revenue sharing model with Nanobi.
"Analytics from small, diverse but well-connected data islands had the potential to solve this problem and this led to the creation of the analytics app store theanalyticstree. The purpose of theanalyticstree is to democratize the usage of analytics, making high impact analytics simple, affordable and instantly available to all business," said Mahesh Ramakrishnan, CEO of Nanobi.
According to Mahesh, traditional implementations of BI involved spending much time in building the solutions, so by the time it was delivered, users wanted something more and different. That's what this product focuses on.
The Nanobi analytics app store theanalyticstree was conceptualized with a belief that analytics delivery should be simple, agile and pervasive. Ramakrishnan stated that they believe in enabling every organization to take informed decisions, using business intelligence, and must be able to do so using high impact and low cost analytics.
Certainly, unlike other Big Data and Business Intelligence solutions in the market, the uniqueness about this startup is the entire concept of an analytics App Store. theanalyticstree is available in the Indian market place for businesses of all sizes on a pay-as-you-use model, and be up and running within a few hours.
"By providing content rich analytics on a simple subscription model, they aim to democratize the usage of analytics across spectrum of enterprises ranging from small neighborhood stores to large enterprises without asking for huge upfront investments or evoking any fear of failure," said Mahesh.
They offer multiple deployment models to address enterprises of different sizes and requirements.
Their offering on the cloud theanalyticstree is for small and medium business enterprises who want to have a quick start to their analytical journey with no investments on infrastructure or resources. This offering on the cloud offers predefined, domain and content rich analytic apps that businesses can choose from across Industry Verticals. These analytical apps have been designed by people who have deep domain knowledge of the industry and understand the pain points.
For large enterprises, they have the On-Premise model which an enterprise can build analytical apps or subscribe to the pre-defined analytical apps available on the cloud. Their pricing model takes care of this differentiation according to Mahesh. And more importantly their platform helps these enterprises to:
- Leverage existing investments to build a larger ecosystem of BI and Analytics users
- Increase the pervasiveness of the information flow from the data warehouse
- Increase the ROI on the investments in the data infrastructure
- Do this at a much lower cost
- Democratize the data and information within the organization to derive maximum benefit
One of the key aspects of BI and analytics is the increasing volumes and sources of data, new and innovative technologies and complex data integration and quality issues and difficulties to maintain and enhance these diverse BI architecture. Their focus is on simplifying these challenges or complexities.
Within their product the nanobi liquidData analytics platform helps with various functions such as tackling new sources of data effectively by adding or removing a data source with a simple function to eliminate long cycles of implementation. It also takes away the need for deploying high degree of skills and expertise. Lastly, with the help of connected datasets which the cost effectiveness of data maintenance becomes easier.
As of now they have around 200+ sign-ups for the Financial Performance Analytics application on theanalyticstree.com. In addition to the customer subscriptions on the App Store they have around fourteen customers using the platform on the cloud on a dedicated basis and on-premise deployment and they also have about three OEM customers. For the analyticstree, they are focusing on strengthening the partner network and strategic alliances with popular business applications like Tally, Microsoft Dynamics etc. Further, they are also testing the effectiveness of digital marketing for the analytics app store.
The company is currently focused on the Indian market with the strategic objective of working closely with customers and actively seeking customer feedback. They plan to go beyond the Indian geography by the mid of the next fiscal year.