Many industries are under increasing pressure to become more competitive and efficient in order to remain profitable and viable. As part of their digitization strategies, companies are looking at edge computing in industrial spaces to drive better real-time decisions and possibly even control industrial processes.
The pioneer organization in analytics platform, FORMCEPT provides the real-time actionable insights to enterprises based on the data provided (be it unstructured/ Semi-structured / poly-structured) and delivers end to end analytics solutions. The organization provides their solution across the world. Over the last few years, it has served Fortune 1000 clients across sectors like Sports, BFSI, Retail etc.
FORMCEPT, a company launched in 2011, its flagship product MECOBT, is a Unified Data Analysis platform that helps enterprises to get actionable, rich insights from their data faster, thereby, significantly reducing the time taken to convert data into decisions. MECBOT– built on powerful algorithms like Machine Learning, AI and Deep Learning uses a combination of diverse techniques to learn the flow of data, process it and deliver rich insights to the right people at the right time.
The cutting-edge innovation of FORMCEPT is ‘INTELLIDEVICE’ that activates industrial machines and equipment to send high-velocity data on resource performance and usage to the cloud. Here, MECBOT analyzes it to generate quick actionable alerts and event-triggers. With INTELLIDEVICE, the organization aims to enable industries of tomorrow through interactive, intelligent machines.
A Leader who Facilitates Changes
With twenty-three years of vast knowledge in product development, Suresh Srinivasan, CEO and Co-founder of the organization FORMCEPT. Six years ago he started his journey with Anuj Kumar, ex-employee of Oracle. Under their leadership, FORMCEPT has crossed several milestones in a very short period of time. They also received some prestigious achievements which increased their integrity among their customers.
Previously, Suresh worked with some prominent organizations, which helped him to understand the current scenario and the need for the analytic platform. He has a track record of providing high-quality products on time. Moreover, he has keen knowledge about managing innovations, product strategy and building strong technical teams while solving business problems
Innovative Services which Provides Benefits to the Clients
Over the last few years, FORMCEPT’s unified data analysis product MECBOT has helped thousands of businesses achieve impactful business results with cutting-edge analytics and automated pipeline of actionable business insights. They give some examples of their big data analytics solution which help to drive better business results for enterprises.
They provide better products and services with consumer need mapping and analytics. FORMCEPT gives attention towards improved customer engagement with loyalty analytics and predictive modelling. They believe sustainable growth with customer 360-degree profiling and clear positioning strategy that helps them to maintain the leadership in this field. They also show how they manage improved profits by maximizing sales, optimum pricing and minimizing costs. The organization is creating a seamless feedback loop for continuous improvement. They give focus on maintaining a friendly relationship with the customer across digital and physical networks. Their superior channel management strategy through insights on channel rationalization helps them to provide a better solution. Additionally, the organization has faith in better distribution management through analytics on industry-wide performance that supports them to maintain the current trend of analytics industries.
Traditional analytics is largely incapable of delivering such solutions because of their inability to unify large volumes of external data with internal databases at scale. FORMCEPT’s flagship product MECBOT deploys the intelligent cognitive application to make businesses smarter and monetize big data quickly.
Dedication and Hard Work keep them Ahead
FORMCEPT started their journey in 2011 with the single aim of providing end-to-end analytics solution for the customers. But before that they did bottomless market research to understand what the market demanded, what exactly the customers want, understanding their pain points, what the competitors are offering and where exactly the gap is. Their clear visualization aids them to maintain differences from their competitors.
In terms of business benefits, below they highlight the notable differentiates from their competitors:
- Enable up to 60% cost savings and boost RoI by 3X by optimizing data engineering and data scientist teams
- 50% faster insights for smarter decisions by automating the repeatable tasks and processes and crunching of the data
- 80% less efforts to unify all data – their unique system structures the unstructured in near real-time to get actionable insights
- End-to-end analytics solution: from data sourcing, messaging, structuring, analyzing to dashboard/reports
Awards and Achievements
Under the leadership of the dynamic duos, the organization attained some prestigious awards. They have won the significant Frost & Sullivan’s ‘New Product Innovation Leadership Award’ in 2014. They have been presented at TechCrunch International City Event, received the NASSCOM Emerge 50 Award and were a finalist of the TiE50 Awards Program, all in 2013. FORMCEPT has been recognized by YourStory.in and they have also raised seed funds from CIIE-IIM Ahmedabad by winning the ET power of Ideas in 2012.
Future Summary
The organization believes Product innovation and erudite employees are driving the company ahead. Suresh states, “We are coming up with innovative solutions where we are solving the real needs of the customers. For example to counter the upcoming GDPR regulation- data privacy breach issue, we came up with a solution that enables enterprises to generate realistic data without worrying about the data breach.”
Today, augmented analytics is the current trend in the field of analytics. Keeping this in mind, FORMCEPT launched their product Constellate. With the help of this new invention, users can automatically discover, visualize and extract relevant findings without writing algorithms. Other activities that are possible include data profiling and data quality, harmonization, modelling, manipulation, enrichment, metadata development and cataloguing. Ultimately, Constellate enables collaboration between expert data scientists and citizen data scientists.
“If you want to make innovation in analytics, you need a strong technology base & the right people support and that is what we are trying to build in FORMCEPT.” says Suresh.
Source :-The 10 Most Prominent Analytics Companies
