23 Apr Leveraging Data Intelligence for Customer Value: In conversation with Siva, founder Indriyn Data Analytics
Leveraging Data Intelligence for Customer Value
CIE brings to our Deeptech community,
Fire Up Founder Insights series 3rd edition, hosted by our COO, Mr. Ramesh Loganathan. The series is brought to you as a part of Startup Gyan Blog series by CIE-IIITH where we feature our founders and talk about their Startup status and the journey so far through conversation on specific topics useful for other Deeptech startups and the community at large.
In Conversation with Siva, founder Indriyn Data Analytics:
Indriyn Data Analytics, originally started as Industrial IoT solutions, now offers Facillizence – a platform that harnesses AI and building data to make buildings efficient, intelligent & sustainable. The Startup facilitates the high-rise corporate buildings, Tech parks, Hotels and Hospitals. Although these commercial real estate spaces have management systems like building management, energy management and water management systems, they are not interconnected and “don’t talk to each other”. This made the team to work on collecting data from these not-so-connected points, apply to cloud- an AI driven algorithm and eventually build a tool for building operators.
“We did a 5-6 week long study on the systems and onboarded a facility management system coming with offline data before going to the first customer”
The Platform covers all the essentials and offers Maintenance intelligence, Billing intelligence, Asset intelligence, Energy intelligence and Occupancy intelligence. The team digitised non-real-time data as entry point to create value to first set of customers, later on expanding to real-time and offer data-driven value. The team picked up Real-time data, open source data sets available online for auxiliaries and other sets from the customer, which is not available online.
“It took at-least 2 months to show valuable data insights to the customer and hence we offered a parallel module to keep them engaged in the meantime”
Some key takeaways for startups leveraging data intelligence for generating value to customers:
- Getting data is a challenge, Leverage open source public data sets for a start eventually modifying and verifying it with actual customer data
- Product should be built such that there is some value from day one. Ensure there are subsystems that needs all data and insights along with others that customers can start seeing value from early on
- Ensure sufficient incentives being given to customer to share data and wait few months or weeks for value
- Data and the AI should address some specific biz problem (biz use-case)
One growth hack tip:
“As awareness about the technologies is minimal, Use cases drive your business most of the times”
So, Don’t lose track of time.
We agree, time to grow is NOW!
Keep watching this space for more under Fire Up Series.
Stay safe and sound!
– Sunita Kumari, Team CIE