How data analytics gives enterprises the competitive edge

From start-ups to established companies, every enterprise is chanting the big data mantra and not without reason. For, data analytics gives companies a competitive edge.

According to Vivek Venugopalan, Chief Technological Officer of data analytics start-up Fantain, data analytics is “an important tool to any company as data aid in creating right products that can influence a customer decision.”

Product positioning Analytics can make sense of the data generated via, say, the social media to categorise customer preferences to help companies make better decisions about their products and positioning.

“We at Fantain do the same for sports fans, especially cricket,” Venugopalan said.

“Take the example of sponsors of IPL team. If a mobile brand has to associate with one of the teams, we compile data on demography, customer preferences and their age. This helps the company position better and aim promotional campaign at targeted audience, which generates better response,” he said.

The company has partnered with IPL teams like Kolkata Knight Riders, and SunRisers Hyderabad.

“Sport is our primary vertical. But now we are expanding our entertainment portfolio as well,” says Venugopalan.

‘A new concept’ Recently, BookmyShow invested in the start-up and the company has tie-up with entertainment companies like Sony music India and Red Chillies Entertainment.

But data analytics is still a new concept and it is just starting to pick-up, said Aravind Ramachandran, Chief Product Officer.

Gaming industry is probably one of the longest users of data analytics where competition is stiff and customer engagement and preferences directly impact sales.

The companies have to continuously innovate to keep customers hooked given thousands of games available in the market.

Manish Agarwal, Chief Executive Officer, Nazara Technologies, said that is why data analytics form the core of the gaming industry. Agarwal said, “In a particular game you notice that many people dropping between level 4 and level 5. With the data you analyse why there is a drop and tweak the game accordingly either by reducing difficulty level or introduce challenges that will interest the user.”

Apart from entertainment industry, the hospitality sector is investing in analytics. AccorHotels, as part of its digital strategy, invested €225 million in 2015.

Hospitality sector Nilesh Patel, Director of IT, AccorHotels India, said data analytics assists in identifying pain points of customers and their preference to provide better services compared to its competitors.

Kavikrut, Chief Growth Officer, OYO Rooms, says, “We are using big data analytics to understand how customers are using OYO. We have applied big data concepts to predict demand, user behaviour and general industry trends.”

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