FORMCEPT: Expediting the Process of Data Driven Decision Making
Date: Wednesday , January 28, 2015
If the transactional data, which accounts for just 14 percent of available data, has revolutionized the world, imagine the kind of magical doors that can be unlocked if the other 86 percent of unstructured data - whether it is internal or external - is also unified to build a holistic view of business problems. This unified data view and consistent insights need orchestration of variety of technologies that is of prime concern for enterprises. FORMCEPT, a big data company, turned several important heads across the globe by addressing this need with their state-of-the-art \'Unified Data Analysis platform\' called MECBOT (Management & Enhancement of content BOT). MECBOT is designed to stand out amongst other data analysis platforms owing to its capability to maintain a managed, semantically enriched data lake which enables each and every individual to access data and perform various analysis on their datasets.
FORMCEPT was founded in 2011 to rescue analytics from the data scientists\' cage and commoditize it across enterprises through mathematical application of formal concepts on data. Though the company launched the complete product only in early 2014, FORMCEPT started generating revenue from July 2012 itself. Apart from IIMA\'s funds, the company also pumped their revenue right back into the product. In FY-2014, the company not only closed numerous clients including a large global recruitment company, a UK-based sporting media giant, a renowned M2M device company, telcos and retailers, but also generated significant revenue and earned worldwide recognition.
MECBOT - Your Analysis Platform
�The MECBOT platform dramatically reduces the pre-processing time involved in analytics cycle and makes data available in consumable form for further analysis,� says Suresh Srinivasan, Co-Founder, FORMCEPT. MECBOT not only provides a unified interface for storing and querying datasets but also offers batch processing, stream processing and interactive analysis out-of-the-box. It utilizes the power of graph database, key-value store and index store to provide a seamless experience for end-users. Incorporating the concepts of lambda architecture, MECBOT can be deployed on both on-premise and private cloud.
This revolutionary technology has been magnetizing several ambitious internship seeking students from IIM, IIT and Anna University. This, in turn, helps FORMCEPT to build a community around the platform. Sticking to a single strategy can affect nimbleness, thus FORMCEPT doesn\'t believe in having a defined work culture. The individual-centric environment\'s primary focus is on providing excellent customer service. Being a highly technology-oriented company, FORMCEPT hires after a rigorous filtering process. Growing further, FORMCEPT aims to expand their team with people having distributed computer science background, who can passionately tackle challenges.
Being a start-up in B2B space makes FORMCEPT\'s sales cycle larger. Thus, the company is on the hunt for an adept senior management person with enterprise sales background, who could accelerate the company\'s growth. Noting that technology awareness in U.S. is higher vis-�-vis India, FORMCEPT is poised to cash their emerging brand value by registering an office in Delaware. The company also has a long-term geographical expansion plan to spread across North America, Europe and Singapore. FORMCEPT has filed nine patents in U.S. & India and couple of them are on the process of getting approved. The company\'s partners are continually adding accelerators to MECBOT vertically, while FORMCEPT is evolving it horizontally. Adding more domains that are left out by partners to build a complete solution in next two years is also in FORMCEPT\'s wish list. Hence, the company is expanding the breadth and depth of its domain expertise to mould MECBOT into a niche solution that could cater according to pain points in specific verticals. To accomplish these plans, FORMCEPT\'s complete focus will be towards raising funds from February.
Suresh Srinivasan, Co-Founder
Leveraging 16 years of product development & leadership experience at India & U.S., this IIT & IIM alumnus and patent-holding innovator orchestrates FORMCEPT\'s overall management, strategy planning, operations and new product definition.
Anuj Kumar, Co-Founder, Director & Committer
This proud data maniac has deep expertise in Information Rights Management, Content Management and Data Integration & Quality. Anuj has published research papers at ACM conferences, filed few patents and spoken at TEDx.
Bangalore, Silicon Valley
? Winner of New Product Innovation Award - 2014 by Frost & Sullivan
? TiE50 Finalist � 2013
? NASSCOM Emerge 50 - 2013
? Next Big Idea Finalist � 2012
? Power of Ideas winner � 2012 among others.
Distinguishing Features of MECBOT
? FactorDB, innovative metadata handling methodology, which sits on top of proven NoSQL technologies, like key-value stores
? Enrichment of content using a Knowledge base built on concepts of LinkedData to identify precise context and extend across domains
? Seamless connection of data across multiple sources, using the patent pending Data Folding � techniques to discover the relations and patterns
? Text Analysis, Graph-based analysis and Statistical analysis can be done at a scale without worrying about Volume, Velocity and Variety
? Scales horizontally and vertically on commodity machines