Nuevora: Presenting Fastest Route to Monetize Big Data by Disrupting Existing Business Models
Date: Tuesday , January 26, 2016
The evolution of Big Data and analytics has changed the way business decisions were made. Today, a fraction of delay in decision making may push you years back leaving you helpless to decide on your next step. The fast moving technology has already brought things on our finger tips. Though it has more to offer, the power of Big Data has been limited by the barriers of complexity, consumerization and continuity that it can\'t seem to blast out of. Because the superfluous volume, velocity and variety of the complex Big Data is too overwhelming for human talents alone to solve in a desirable manner with scale and speed, which leads to the next challenge of Consumerization.
Just like the consumer world, organizations are seeking specific solutions for particular problems at finger tips, but with one imperative additional requirement: interconnection. To make much more informed decisions, organizations need the insights derived across every business process (customer lifecycle, supply chain or inventory optimization process) to complement each other. Yesterday\'s predictions are no good for today. As your competitors are incessantly introducing new products & promotions and consumers expectations are constantly evolving, the analytics that your business depends upon should also be adaptive at the same pace, capable of deep learning powered by machine learning. Hence you need to enable a continual loop that would bestow you with the latest and greatest predictions at any point of time. Merely throwing bodies at the complexities of Big Data and analytics is not a smart route, as it doesn\'t unfurl the mega analytics driven innovation opportunities.
Translating Data into Value by Unlocking the Codes
Understanding that these factors are too intricate for machines to contextualize and too overwhelming for human talents to handle, Nuevora Analytics Technologies is pioneering a platform-driven analytics business model with optimized blend of technology and talent to produce the 3Ss - Smartest of the analytics and the best of the Scale at the fastest of the Speed. The company demystifies the complexity of big data & analytics by enabling Consumerization to derive maximum value. To top it off, the global delivery model of this Silicon-Valley company with its Hyderabad, India based CoE enables clients to relish this model to monetizing analytics in a fast and cost-effective manner.
Though plentiful of data crunching is happening globally, there is a humungous flaw in the market devoid of well-employed talent pool that can contextualize the data& analytics. On the other hand, organizations are investing a dismal amount of money in data scientists every month, yet fail to obtain expected value. Even if the data scientists are vendor managed, organizations still have to invest its people at certain proportion in order to ensure that they are getting the right work throughput from vendor\'s people. While the in-house analytics teams lack expertise, the extremely expensive management consultant firms fail to provide scalability and sustainability. Hence eventually, it transpires into a cost, productivity, innovation and management problem.
Nuevora with its non-linear model automates the repeatable processes in analytics development, utilizing the right amount of manual intervention from a capable talent pool that is astute enough to contextualize the data. \"While simple analytics like Business Intelligence can afford to be automated to great extent, sophisticated predictive analytics need to be contextualized with human intervention. Hence, we let the machine do the heavy lifting of the analytics development process to attain speed, sophistication and the ability to continually adapt, while depending on the fewer number of right talent pool with last-mile prowess. Due to this focus and contextualization, our clients can achieve their desired business outcomes from the scale, speed & smarts of analytics at an economic price that simply cannot be matched,\" explains Phani Nagarjuna, Founder &CEO, Nuevora Analytics Technologies.
nBAM & nBAAP- Looking Through Customer\'s Lens
The data spree nowadays has empowered customers with ample information about a certain product via plethora of channels akin to social media and tech forums, even before an organization promotes its product. This revolution brings forth an interesting problem for organizations, as they have to utilize all data assets properly to produce the right solution inline with customers\' intent, pattern and motivation ahead of the curve.
To be in tandem with the data revolution, CXOs have been scratching their brains in order to find a way to wield the power of analytics, so they can view their business through customer\'s lens. Inturn, this insight will help them innovate and out-compete the market by introducing the next best product or launch the best marketing campaign aligned with their customers\' interests. Nuevora\'s Big Data & Analytics Maturity (nBAM\') framework can raise unimpressed eyebrows with its ability to provide a detailed roadmap for monetizing client\'s big data by engaging solution specific apps. The company helps its clients to tap into a dizzying array of data sources if required, to gain a comprehensive understanding of its customers\' buying behaviors.
Having customer lifecycle/value optimization as its core offering, Nuevora brings forth the smartest way to identify the right customer to acquire and retain them. Nuevora doesn\'t stop with endowing its clients with short-term profitability by helping them up sell & cross sell all of their offerings to those customers, but also helps them to make the right choice and trade off that profitability to preserve their relationship with the right customer in long-term. As a cherry on top, Nuevora ties together all these six crucial components (acquisition, retention, up selling, cross selling, profitability &customer life value)of customer\'s lifecycle to offer the unified analytic value proposition for CMOs.
Out of a number of successes associated with Nuevora, some stories stand out. The company once accelerated the growth in revenue per customer and customer stickiness of its client in the Hi-tech vertical radically by enabling client\'s products with nBAAP™ (Big Data Analytics & Apps Platform) Churn Optimization and LTV Optimization.
Disrupting Existing Business Models
Phani established Nuevora with the powerful proposition of marrying analytics, big data cloud technologies and outsourcing. He precisely predicted that this compelling amalgamation would open up a sea of opportunities, as he noticed that client\'s needs are continually evolving and there is just a handful of players to answer them. While convincing the market to adopt a new strategy is a daunting task for a pioneer in any sphere, breaking new grounds to cultivate a market in an infant field like platform-driven analytics where clients are not even aware of the challenges they are facing was nothing short of Herculean task.
However, once Nuevora successfully on-boarded the initial marquee clients, the company has experienced sustainable growth. The resulting traction enriched Nuevora\'s clientele portfolio with quite a few of world\'s high-flying technology firms, prominent consumer goods companies and topmost retail organizations. Boasting the distinction of being recognised with prestigious awards & recognitions akin to Top 10 Big Data players by CIO.com, the company has also been experiencing triple-digit CAGR.
Respect - Breeding throughout the Organization
Nuevora stands for uniqueness, so does its work culture where growth doesn\'t come with years of experience but with talent and contribution to the organization. Walking on the simple mantra of \'Treat People like the way you want to be treated\', the company respects each idea that is approached by Nuevoraites. As an MNC, the company equally vests keen importance on high performance global benchmarks and adheres to promised standards, quality, policy and headlines without compromising. To keep the environment lively and bring a fun element, Nuevora frequently celebrates social activities and birthdays, which plays a great role in building an incredible amount of camaraderie among team members.
Looking forward to the future, the company intends to add more data scientists who are data and business savvy interim, so they can bring contextualization to analytics. Nuevora will continue to spread out its operations in U.S. and R&D aspects in India. The rapidly growing company might be open for funding in future to exploit the upcoming market opportunities.
Neuvora aspires to continue as the master of its realm and send the message of platform-driven analytic business model. The company will keep on building out its platform in this theme, while also expanding its platform into other market areas. Making such great strides, it\'s safe to say that Nuevora\'s unique value proposition will soon elevate it as the topmost player in the Big Data industry.