Over the past few years, the big data analytics market has seen the entrance of some major players and brands. Recently, a startup Indix, by former Microsoft vice president Sanjay Parthasarathy was in the news for raising USD 4.5 Mn and its plans to work on a product to ease out the job of product managers.
Putting that idea into the execution phase, Indix has launched a SaaS + Big Data product intelligence platform for brands and retailers. Also, the company has announced a beta release of its APIs for developers of third party apps to build applications that incorporate information and insights about products and services.
Big Data+SaaS is relatively a new term in the market defined usually as Big Data analysis-as-a-service. As per the analysts, currently large organizations can support their own big data analyzing platforms for marketing purpose – for example, to create sales promotions or customer retention programs. However, smaller companies, being not able to meet the cost of computing and storage resources, mostly failed to do so. The big data apps or BDA’s, thus find their application here.
The main idea behind launching Index Big Data app is to enable product managers (which mainly include brand managers, pricing analysts and retail merchandisers), provide a cloud based solution to analyze, visualize and act on the world’s more than 1 Bn products and services and then provide actionable product and competitive insight in real-time.
“In the future, all applications will be product-aware, just as applications today are people and location aware. The same way Facebook connects you with people and Foursquare connects you with places, Indix can help connect you with products,” said Sanjay Parthasarathy, founder & CEO of Indix.
Indix encompasses product catalog intelligence, dynamic pricing intelligence, competitor intelligence, market intelligence and business intelligence. Thereby, allowing product managers to focus more at merchandising, new product development or innovative promotions, all backed by solid data and insights.
Further, by combining the publicly available data online with the private data that businesses already have, it can help product managers drive sales, attract customers and increase productivity.
As per the company blog, with eCommerce evolving at a high pace globally, providing multiple storefronts to the online retailer, It’s not hard to imagine a time when products will be available through “infinite channels,” where every app, website and service is an opportunity to inform and engage potential customers on a product – not just for advertising, but also education, awareness, and ultimately purchase.
Indix was launched in 2012, with its headquarters in Chennai and Seattle, USA. The startup is backed by prominent angel investors as well as Avalon Ventures and Nexus Ventures. The company’s founders have run billion dollar businesses for Microsoft and also started successful startups like Caymas Systems and NetScaler, among others.
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