Data science experts start up Valiance to help firms improve business processes
Tuesday June 24, 2014,
3 min Read
Advancement of technology and its use in various fields has opened up the area of data to a great extent. A large amount of data is being produced and this has led to a growth in the number of companies analyzing this data to make sense of it. Though a worldwide trend, India isn't far behind and we've seen numerous companies leveraging the power of data to help companies become better. Noida-based Valiance Solutions is one such business analytics firm helping companies improve business processes and operations using data science.
The team at Valiance is a mix of domain experts, data scientists and technology folks to deliver solutions that are predictive and prescriptive in nature. Vikas Kamra is the CEO of Valiance Solutions and heads the overall strategy, marketing and business development. Vikas is an alumnus of IIT Delhi and has worked as a technology consultant for investments banks for nearly 3 years besides other roles.
Alongside, Vikas has Shailendra Kathait who has 6 years of analytics consulting experience working with Fortune 100 financial companies across EMEA, the US and Indian Subcontinent region. Ankit Goel is the third Co-founder who is an IIT Kharagpur alumnus and comes with 9 years of experience in software development, application architecture and scalable applications development.
“We have come together to achieve a common dream to build a successful enterprise that provides tangible business value to its clientele. We find business analytics the key ingredient in making that happen and hence our presence,” says Vikas.
Valiance started its journey as a technology consulting firm in early 2012 and shifted its focus towards business analytics in late 2012. The company is self-funded and their primary market has been India with specific focus on banking & insurance segment. “We are seeing a lot of traction in the segment we operate in India this year with clients looking to invest in analytics initiatives that can help them understand their customers better and improve marketing functions. We have already closed a few deals early this year and hope for a strong year ahead,” says Vikas.
Here are a couple of use cases (names of clients haven't been revealed due to contract clauses):
A prominent retailer in the US: Valiance is working with them in defining customer segments, classification of customers into value-based matrix where they can focus on and build acquisition and marketing strategies.
Microfinance Credit Bureau: Default propensity for loan applicants using demographic and financial behavior attributes. Valiance will be working with them in defining risk scores as well.
A team of 15, Valiance works with retainer engagements as well as build & transfer projects contributing to their revenue streams. “Every engagement for us has a fixed and success based component. We are also keenly looking for investment for our firm to scale up operations,” says Vikas. Valiance has been consultancy focused and is slowly moving towards products as well. They are in the early stages of building an analytical app for health insurance segment to predict and identify health claim frauds.
Website : Valiance Solutions