What’s a great salesman’s dream? To know most about his customer. What if you are trying to sell to millions of customers online? It gets too complicated. Big data startup InfiniteAnalytics wants to make it simple.
The startup, co-founded by two MIT graduates, it has its genesis in a class taught by Sir Tim Berners-Lee, the inventor of the World Wide Web.
Its flagship product, the SocialGenomix, is a personalization engine that uses structured and unstructured data about a user from major social networks. It tells you the most relevant likes, interests, activities, brand affinity, intent, influence and spending potential of customers.
The startup says it can predict user’s behavior for e-commerce, media and content, travel and enterprise businesses. The proprietary algorithms evolves with customers changing tastes, says the company.
Akash Bhatia, the Co-Founder & CEO of InfiniteAnalytics is a graduate of MIT Sloan. He co-founded Kyazoonga and has worked at Oracle before that. The other Co-founder, Purushotham Botla, completed his Masters in Engineering and Management from MIT in June this year and has worked with different companies before.
Statistical algorithms process data signals about a user and provide real time scores that help Infinite Analytics predict user behavior in real time.”We have 5 paying clients at the moment and a huge pipeline of potential customers,” the startup said. “Some of our clients are seeing close to 25% increase in conversions,” they added.
The company uses natural language processing and machine learning to analyse the social data.
According to Gartner, Big Data will drive $34 billion of IT spending in 2013. Big data solutions in India is expected to throw up market opportunities worth $ 153 million by 2014, says a study by IDC.
Many new generation companies like Mu Sigma and Affine Analytics operate in the big data space. Larger IT services companies also offer big data solutions. Affine Analytics raised a seed round last year. Mu Sigma sold a small stake in the company to MasterCard Advisors, a division of MasterCard at a valuation of $1 bn.