DataWeave: Delivering Analytic Intelligence to Brands and Retailers
Date: Thursday , October 13, 2016
Retail is a sector that is very much susceptible to disruption. The sector has faced intense overhaul especially after the advent of online stores. Harnessing useful information from data is like refining metal ore or perhaps, metaphorically, more difficult; for the ore is found consolidated in nature, unlike a product\'s online volatility that follows the trails of consumers, competition, availability and time dependence.
\"The need to understand external factors impacting businesses and integrate it into ones\' decision making has grown. Given the dynamic nature of these external factors, it is difficult for a majority of businesses to do it at scale and in near real-time,\" says Karthik Bettadapura, CEO of Dataweave. Bettadapura along with co-founder Vikranth Ramanolla, set out on the venture after realizing the importance and potential of alternate/publicly available data during their earlier roles at data team of Network18. Since inception in 2011 the company has expanded their presence to South East Asia, US and Japan.
The company\'s Retail Intelligence and Brand Analytics platforms promise to make available \'the right data in the right form at the right time\'. \"Over the years, we have added capabilities that enable our platform to be language agnostic, analyze underlying semantics of both textual and images data using AI and machine learning. To enable optimal accuracy of our insights, we have also built a human in the loop approach that helps our data science stack scale rapidly,\" adds Bettadapura.
When a retailer or a brand manager makes decision based on one\'s instinct, the whole essence of retail strategy turns out to be a game of bets, odds for which have irreversibly widened. While large retailers have dedicated teams to tackle big data, emerging players often do not have the necessary resources to cope within the realm. This is where DataWeave platforms intend to assist retailers. \"DataWeave helps retailers price their products better using competitive analytics on an ongoing basis. Pricing Intelligence is designed to give our customers the competitive advantage they need by providing pricing insights that are accurate, timely and actionable. Our technology provides access to detailed pricing on hundreds of thousands of products across any number of competitors,\" extols Bettadapura.
To help their clients gain the upper hand in market competition, DataWeave ensures that they have the edge of relevant technology. The innovation lab at DataWeave aims to achieve this by striving to achieve perfection across Data Acquisition, Data Science, Human-Intelligence and Presentation layer. \"We are taking a holistic approach in this space of \'alternative data\'. We believe that we have merely scratched the surface as far as analyzing publicly available data on the Web goes,\" says Bettadapura. Going beyond the product offerings, the lab has produced several APIs such as the Coupon Code API which can be used to build applications using coupons.
DataWeave\'s unique proposition in the market has not gone unnoticed by investors. The company boasts some of the reputed establishments as their investors. The company opted to pack their intelligence and analytics offerings for the retail sector as the founders \'felt the need to concentrate on providing solutions to one vertical and avoid spreading themselves too thin\' as Bettadapura recalls. With its proven track record in retail analytics, DataWeave\'s capabilities are also attracting a lot of interests from other sectors including Hedge Funds, OTAs and Banks.