Can we trust data? Perfios CSO Ramgopal Subramani says yes

By Pooja Rajkumari
November 13, 2022, Updated on : Wed Nov 30 2022 09:34:05 GMT+0000
Can we trust data? Perfios CSO Ramgopal Subramani says yes
At TechSparks 2022, Perfios CSO Ramgopal Subramani talks about the impact of data and why one needs to look beyond the numbers.
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Data is key to the digital world today—be it for tweeting, transaction, or telecom service. But how do you make sense of the numbers? Can you see the inherent value of data only when you look beyond the metrics?


At TechSparks 2022—YourStory's flagship startup-tech conference, Ramgopal Subramani, Chief Strategy Officer at SaaS startup Perfios, talks about the value of data and how day-to-day lives get impacted by the numbers.

"Data is a collection of zeros and ones but insights are much more contextual," Ramgopal says.

He cites the example of a bill at a restaurant and how it can be analysed in different contexts.


"Your bill is reflected in your bank statement. Suppose a bank like HDFC looks at it, they will give you a Regalia credit card for your dining experience. When an insurance company sees the same bank statement, the company will analyse it and assume that the person could be obese, alcoholic or has a health risk, so they will increase the premium. The same bill can be an indicator of your outgoing nature at a matrimonial site," Ramgopal explains.

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Is India data-rich?

Ramgopal throws a few data sets to show how data can impact every aspect of our lives—right from a gas connection verifying our address to a passport verifying our existence.

"India today has an amazing amount of data, and data is part of every decision that is taken," Ramgopal explains.


However, a lot needs to be done to use this rich data to create a social impact.

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Can we trust data?

'Data overload' has become a part of everyday parlance. Sifting through huge datasets to find accurate data can be overwhelming. However, the Perfios COO assures that despite the imminent fear of using unverified data, such an exercise should not be carried out.

"Can we trust data? Yes. There are so many data sources which are public and verified. And these data can be verified in real-time," he says.

Perfios was founded in 2008 by VR Govindarajan and Debasish Chakroborty as a personal finance management firm. It pivoted in 2012 to a software-as-a-solution (SaaS) service provider to financial institutions for credit underwriting. Perfios’ digital solution helps financial institutions reduce turnaround time and improve their credit decisions.


In March 2022, the company raised $68 million from returning investors Bessemer Venture Partners and Warburg Pincus as part of the Series C round, entering the coveted unicorn club.

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Edited by Kanishk Singh

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