Mobile analytics player Flytxt, which has a development centre in Technopark here, is counting on its ability to manage large volumes of data for an entry into enterprise analytics.
The Netherlands-headquartered company will tie up with partners for this, Vinod Vasudevan, CEO, Flytxt Group, told BusinessLine here.
Recently, family offices of global mass media major Bertelsmann and the Dutch royals had invested $11 million in the big data analytics player.
This infusion will help the company pursue its diversification strategy, Vasudevan said.
“We have already announced a tie-up with Wipro. We’re talking to a few others here and in Europe across different sectors.”
Explaining, Vasudevan said Flytxt has proven its competence in managing and analysing large volumes of data and knows how to integrate it with business applications.
“We think that 70 per cent of the work we do is common to all enterprises and can therefore be applied to other enterprises. Flytxt will study the market in each segment before deciding which partner to align with.”
It’s a question of the partner’s strength and how well Flytxt can work together with it, Vasudevan said.
The company executes mobile consumer analytics for very large enterprises. It does not merely analyse data but also ensures that client companies get a better or more improved customer experience and a share of their wallet, he said.
“Everybody in the chain benefits…it is not as if the enterprise takes more from the customer...we are able to generate value for both.
"A part of the economic value thus generated comes from pre-empting customer flight. Most of the time, they hop out saying they feel they’re not taken care of. Then there are ways of enhancing the loyalty quotient.
“So there are four parts to our solution. One, we can collect and manage very large volumes of data — terabytes or tetra bytes — in a secure and privacy-honoured manner.”
Two, Flytxt has a lot of analytical models based on its own algorithms, which help it to understand consumer behaviour.
Three, it has business applications that range from simple campaign management, a commendation engine or a dashboard to even an application for a customer to look at his/her own behaviour.
Four, it has the capability for telecom business consulting. Of these two — the ability to manage data in a secure fashion and the analytics that it can do on that — directly apply to all enterprises.
Vasudevan said this is what led the company to explore areas outside of telecom with partners.
In some markets, it is looking at retail, in some others, insurance within BFSI, and in some others, manufacturing – automobile to be precise.
“Am not saying no to banking, but this is the position as we speak. We’re also interested in the media. Discussions with various prospective partners are on.”