The big data-analytics start-up, Crayon Data, has announced its plans for India market.
Crayon already has a few customers in the US and UK markets, and its founder and CEO, Suresh V Shankar is confident that they can replicate the success in other emerging markets in Asia Pacific and Middle-East.
Head-quartered out of Singapore, the company has its development center in Chennai.
“We started off formally in October last year and we have made tremendous progress in the last 9 months. We have built up a team in Singapore and India. We developed the prototype versions of the products that we are working on. We signed a couple of very large contracts. We are making significant revenue already in the first year. Over the next three months, we will be having at least the top 10 global names in our client list,” said Shankar.
To start with, Crayon will target the India counterparts of its global customers. But Shankar sees equal opportunity among domestic players also. The company is in the process of developing effective business and engagement models forIndiamarket.
Shankar says that India is a very challenging and interesting market.
“Understanding the language is a big challenge. Besides, you don’t get the richness of public data set that you typically get in the West. So we have to make a lot more intelligent profiling, based on the limited data sets we have,” he added. Crayon however plans to come up with very competitive price-points forIndiamarket.
Crayon’s focus is primarily on platform and products.
“We did not want to build another services company because that’s not the future when it comes to big data or analytics. We don’t want to be a body shopping player in the big data space. We wanted to solve some very large data problems in the enterprises through a very algorithmic approach and focus on the simplification and visualization of analytics,” added Shankar.
The company’s flagship offerings include ‘Richer Engagement’, an interactive consumer engagement platform; Simpler Choices, a product that helps business take informed decisions from various options; and One Drop Analytics.
Crayon has already signed up with a global hospitality company inUKand a global payments provider. The company has also done some pilot projects for a few technology vendors inSingaporeand also a retailer inEurope. Crayon is also seeing traction in industries like e-commerce and banking.
Suresh V Shankar had earlier laid the foundation for RedPill Solutions, a data analytics company, in 2000 which got acquired by IBM in 2009.