With the growing internet penetration across the world, ‘Big Data, Data Analytics and Data Crunching’ are seen quite as buzzwords for the tech space. Big Data is usually referred to the huge amount of data gathered from everywhere, measuring in trillions of amount. This data, if analyzed properly could become the basis of competition and can help enterprises in better decision making along with enhancing the productivity and increasing the quality of products.
According to Verisign, the global leader in domain names, with more than 2.5 quintillion bytes of data generated every day, almost 90% of the data in the world today has been created in the last two years alone, making this so called ‘Big Data’ a billion dollar market.
Few years back, harnessing this opportunity was quite a big challenge for all the leaders in the Industry. However, with time, the big data market is heating up, making many startups to capitalize on the numerous benefits and opportunities it offers, both to the investor and the startups.
With increase in big data awareness, the Indian enterprises are also realizing its importance in the growth of their businesses. Flipkart is one such startup in the internet landscape, which is using Big Data Analytics for fighting competition and analyzing its large user database.
Although, big data is still believed to be at nascent stage in India, some of the players have already entered into the market, mending the gap by providing compressed, analyzed and secure data services to the enterprises.
The Indian big data market is expected to reach $1 billion in 2015 with major contribution from the IT services segment. As per NASSCOM, country’s big data industry will grow from US$200 million in 2012 to US$1 billion in 2015.
Here are some Bangalore based start ups to watch out in coming years:
1) Bizosys Technologies: Mapping the Volume, Variety and Velocity to Transactions, Interactions and Actions
Built by three engineers viz.Sunil Guttula, Abinasha Karana and Sridhar Dhulipala, Bizosys specializes in answering big data queries of enterprises in a faster and cheaper manner. There USP is a free software program, Hsearch which has the ability to perform real-time search and analytics on both text content and database records. Though launched in 2009, it has only been a year that company has started making revenues and are building applications for specific industries especially for Pharma research companies, which is helping them bag customers.
2) Flutura: Transforming decisioning processes within organisations
Flutura , a Decision Science and Analytics company focused on Big Data and Operational Analytics made its entry in year 2012. Flutura means butterfly in Albanian and is symbolic of company’s aspiration to transform decision processes within organizations. A venture of two engineering and management graduates, Srikanth Muralidhara and Krishnan Raman respectively, Flutura is currently solving audacious problems on Cerebra – a state of the art big data signal processing product.
3) Data Weave: Crunching online public data into a structured format
Launched in year 2011, Data Weave is a data aggregation and analytics company, creating curated datasets by aggregating data from the Web. Currently, it is working with an eCommerce Price Intelligence product, PriceWeave that lets eCommerce portals monitor price changes to products across the Web in a easy manner.
The dataweave clientele include Rediff, Indiatimes Shopping, Snapdeal, Puma, Jabong, OfficeYes, EasyRation, Zigwheels, etc. Also, the firm recently raised INR 1.5 crore in seed round of funding from Angel Investor & MD Google India, Rajan Anandan, Blume Ventures, TLabs (Times Internet), 5ideas Startup Superfuel, Meta Studio Advisors and a group of angels
4) Qubole: Building the next generation cloud data platform
An initiative of IIT Delhi alumni, Ashish Thusoo and Joydeep Sen Sarma, Qubole is working towards making data analysis and building data driven applications in the Cloud – Easy, Fast and Fun. Founded in 2011, the startup began with the team that built and ran Facebook’s Data Service.
At present, they are working on Hadoop eco-system which is an open source software framework that supports data intensive distributed applications. They also founded and authored Apache Hive, which is a data warehouse infrastructure built on top of Hadoop for providing data summarization, query, and analysis.
They are currently having association with brands like BigCommerce, Pinterest, MediaMath, decide, YD world, Nextdoor and many more. The startup also raised series A round of $7 million from investors such as Charles River Ventures, Lightspeed Venture Partners, Venky Harinarayan and Anand Rajaram.
5) Formcept : Unified big data analytics platform
Founded in 2011 by IIT Madras and IIM bangalore alumnus Suresh Srinivisan, Formcept is a platform providing big data analytics in areas like Competitive Analysis, Financial Analysis, Profile Analysis, Trend Analysis, Sentiment Analysis, etc. FORMCEPT is an effort to make content analysis accessible to everyone, be it an enterprise, an individual or a device. They are working on some interesting state of the art products that will be available both as Software as a Service Model (SaaS) and as installable products. The firm is currently partnered with Cloudera, Hortonworks, Intel software, Sonata software and Affine analytics.
Other startups that are doing really well and are redefining the data analytics standard in the industry are InRev systems, Gramener, Bridgei2i and many more.
The increasing digitization, rise of social media and Internet of things will continue adding more and more volume and detailed information to the current sets of huge data pile. According to analysts, the pace at which the amount of data in the world is exploding, analyzing Big Data will become a key basis of competition in the industry, underpinning new waves of productivity growth, innovation, and consumer surplus in the coming future.