Voiceback Analytics, a customized data analytics company focused on solving business problems using the modern-day data analytics tool. The company is a Gold Data Analytics Partner of Microsoft, Global partner of Microsoft for AI-ML and Solution Showcase Partner for Power BI.
It works on consumer-facing brands and consumer-facing businesses and uses its expertise to extract business insights and convert them into executable strategies making it a cutting edge as well as globally scalable for Data Analytics.
The company embodies a powerful and perfect marriage between three diverse specialties – Market Research, Operations, and Technology- to enable their clients to solve their business problems and find avenues for growth.
The company manages Mumbai Duty-Free – the Core Concession Duty-free stores, Luxury and Fashion Duty-Free stores in Mumbai International airport and specialty luxury and fashion stores in Delhi International Airport. Manishi Sanwal, Managing Partner, Voiceback Technologies talks to IndiaTechDesk about the scope and challenges in the field.
Would you briefly talk about the client base and give a business overview?
We have a client base of Consumer-Facing Businesses in multiple verticals like Banking and Microfinance, Internet & E-Commerce, FMCG, Travel Retail, Electronics Retail etc. We usually work with mid-sized companies. Roughly 40% of business comes from international clients, and the balance is in India.
The sudden push towards digitalisation combined with easy access to collecting data has ensured that organizations have a vast amount of data with a massive variety. Our business model is Subscription-based. We analyze the customer data to get AI-ML-led business insights companies use to secure profitable growth.
However, this data becomes a non – performing asset for most companies as they don’t have the required knowledge, tools, or capability to analyze and draw insights from this data. The big e-commerce companies use this data to their advantage, while the small and medium player does not have the resources to invest and use the power of modern-day technologies like AI, ML etc.
Would you briefly explain the market size?
Globally, Big Data Analytics is expected to be 215 billion USD by the end of 2021. Half of this is likely to be on IT services and the other half on Business Services. Focus on digitalization, e-commerce push in recent years, growing usage of IoT are all leading to increased data generation in the industry. This would create a massive thrust for the Data Analytics market. The market is in its early stages and is expected to see growth for many years to come.
Would you briefly explain your business model and how it differs from others in the category?
Unlike other players in this industry, we are focused more on Analytics and Insights. We don’t see ourselves as a consulting company with a one-time recommendation. We would dive deep and find data-focused solutions for actual business problems.
We would then handhold the clients through the execution process by continuously monitoring the outputs. The company embodies a powerful combination of three diverse specialties – Market Research, Operations and Technology to solve business problems and find avenues for growth. We
have combined our 15-year history of Market Research and analysis with the latest Data Management and Analytics Techniques to solve complex business problems.
Data requires sophisticated tools to process and sophisticated minds to infer. Our teams are multi-faceted with years of operational experience in Consulting, Research, Retail, Brands, Distribution, Supply Chain, Logistics etc.
This provides us the ability to understand real-life processes and then mathematically model them. The operational teams work seamlessly with our back-end team of Data Scientists, Statisticians and Engineers to run these models and find optimal solutions.
We can collect primary and secondary (structured and unstructured) data. We can combine it with our client’s data to get a complete view and solve real-life business problems. Our clients benefit immensely from this and derive customer satisfaction and business growth.
What challenges does this industry face as the race intensifies in the analytic sector? Please explain from an industry perspective and company perspective?
The industry is facing and will continue to face a talent crunch. The market has suddenly expanded as the cloud and data, leading to a shortage of trained talent. The industry suffers from a high turnover and costs escalation. It’s also important to note that the industry requires a certain analytics mindset combined with IT skills.
At a company level, we would have to focus more on talent acquisition and retention. Our other challenge is to keep pace and track with evolving technologies. The platforms are taking shape, and new functionalities are available almost every week. This requires a solid company-wide learning mindset to ensure that we don’t become obsolete and provide cutting-edge solutions.
Would you please elaborate on why your company is a class apart from other firms, its services, and USP?
We are a class apart for a few reasons as we understand analytics, Market research and Operations. This gives us a 360-degree view of the problem. Our teams mix with career professionals in the market, sales, strategies, and excellent technology teams. This mix of technology and business understanding is our biggest strength and helps us solve problems.
Would you please talk with data about the demand for your products and their performance?
Voiceback Analytics helped identify customer journeys via advanced analytics, then created a system to send individually customized communications. Azure Data Factory was leveraged to read the back-end database and host the data in SQL Server for analysis in Power BI.
The usage patterns were later analyzed on Azure Machine Learning and utilized to recommend relevant content and subscriptions. Using AI, ML, and logic-based codes, a system was created to send customized email communications to customers reflecting their journeys.
What are some of your current focus areas and future growth plans?
There are few internal growth projects for automating our work to generate scale. We are also in the process of creating more products for intelligent communications to the customers. This will create more value for the existing CRM projects. We would focus on the international geographies of Australia and UAE, where we do have some existing customers.