In the internet age, cities never sleep and data is constantly been created by people, machines and processes. This presents a major opportunity to businesses to plan and strategize for the future as well as fine tune their present activities.
DataWeave founded by Karthik Ramesh and Vikranth Ramanolla collects data from various channels and transforms it into a easily accessible form for businesses and entrepreneurs to use. We chat with the founders about the Venture.
An Excerpt from the Interview
• What made you start your venture?
Our company, DataWeave, builds data products by aggregating and analyzing publicly available data on the Web. We started out with the idea of democratizing access to information and provide businesses with actionable insights using these data points. We have applied the above principals to our flagship product, PriceWeave, a competitive pricing and assortment intelligence product for brands and retailers which is language and geography agnostic.
• What has been the key to your business’s success?
We have been lucky enough to work with a set of clients and individuals who have helped us build our product. Essentially, we have listened and understood our clients requirements, reached out to industry experts and married all of this information to help create our product.
• What are the major challenges in your line of business and how did/do you overcome them?
When we started out with DataWeave, we had to spend a lot of time with clients creating an awareness of the power of augmenting internal information with trans-firewall information.
Our approach helps clients get a much better understanding of the external functions that impact their business. The kind of insights that marrying the two provides is phenomenal. Internally, we had to learn to manage the scale associated with associated with aggregating all this information. One of our largest learnings was to deal with varying levels of data quality across geographies as well as working with multiple languages.
• Do you have a mentor who guides/advices you on matters of the business?
We have great team of investors and advisors who have been guiding us.
• Have you benefitted from the use of any specific technology for your regular operations?
Our complete technology stack is build using Open source technology, we use open source operating systems, databases and programming languages.
• What strategy do you follow for Customer Satisfaction & Expansion?
We always try to get our customers to start small. Essentially, we believe that our offering has to work in tandem with the rest of the internal processes.
We are happy to work at a smaller scale in the beginning and expand the scale once the entire process of acting on our insights is streamlined. As a result of this approach we have a high number of contract renewals along with a large expansion in the engagement size, after the first year.
• What, according to you, are the top 3 skills needed to be a successful entrepreneur?