Interview: Phani Nagarjuna, Nuevora on CMO Expectations from Analytics
Tags: Analytics, Applications, Interview, Nuevora, Phani Nagarjuna, Platform, Prescriptive Analytics, Real-time
We discuss the value proposition of Nuevora, founding story, CMO expectations from Analytics and the Nuevora nBAAP platform.
Phani Nagarjuna is founder and CEO of Nuevora, a Big Data analytics and apps firm. His global leadership experience of more than 16 years includes C-level positions across product management, sales and marketing, and corporate strategy and turnaround. Nuevora was recently ranked by CIO.com as one of the top 10 Big Data firms to watch out for.
Here is my interview with him:
Anmol Rajpurohit: Q1. What does Nuevora do? What is its value proposition to clients?
Phani Nagarjuna: Nuevora provides Big Data analytics applications and solutions, focused on marketing and customer life cycle business issues. Leveraging the proprietary big data analytics & apps platform (nBAAP™), Nuevora delivers significant speed and scale in delivering complex predictive and prescriptive analytics to its customers.
Nuevora’s value proposition impacts four key areas of business for its customers:
- Scale: 3-5 times inherent scale vs. conventional people-driven model
- Speed: 4-6 times faster turnaround times from data-to-insight
- Reliability: Solutions driven by purpose built analytics applications provides reliability and consistency in results
- Closed-loop updates: Every business is dynamic and customers require insights based on the latest data. Nuevora’s platform enables continually updated insights based on closed-loop recalibrations
AR: Q2. What inspired you to launch Nuevora? How do you assess Nuevora's progress since its launch?
PN: I envisioned a new wave of business processes-as-a-service (BPaaS) applications, after seeing how the SaaS disrupted the traditional enterprise software business model in the past decade. I saw them taking root in major corporations that drive smarter decisions through near real-time and continuous analytics.
I noted that innovative BPaaS business models will combine the benefits of globalization – inherent in the KPO models – with those of scalability available through SaaS. This new nonlinear business model will create a new category of business applications that enable smarter business decisions and deliver operational excellence across an organization by:
- Providing advanced business analytics capabilities, powered by targeted business applications and human data science talent
- Institutionalizing continuous, context-sensitive, and near real-time predictive insights across different stages of business process execution.
We have been gaining rapid traction among Fortune 500 customers and have seen consistent growth from existing customers.
AR: Q3. In today's world, what are the top questions occupying the minds of CMOs? What are their expectations from Analytics?
PN: The key questions we see CMOs being pre-occupied with include:
- How to make sense of all the marketing technology that is out there to optimally achieve their goals?
- How to analytically demonstrate the impact of all marketing spend on topline and profitability?
- How to gain insights into customer journeys and personalize their experience?
- How to analyze and visualize the incremental impact of marketing tactics on customer retention, up-sell and cross-sell?
- How to evaluate the impact of marketing in driving the growth in customer life time value?
- How to bring customer-centricity to product innovation and product marketing?
- How to implement marketing programs that support social selling?
- How to determine analytically the impact of marketing in driving shareholder value growth?
- How to map customer journeys across multiple devices and correlate their actions to different marketing tactics?
- How to uncover and quantify adjacent market spaces for product / service expansion?
AR: Q4. Can you describe the Big Data Analytics & Apps Platform (nBAAP™)? What are its components? What are its key features?
PN: Nuevora's nBAAP™ Platform features purpose-built analytics applications based on best-practices-driven predictive and prescriptive algorithms. nBAAP™ comprises four key engines: the big data processing engine for data ingestion and processing; analytics & modeling engine for building and managing a variety of predictive and prescriptive algorithms; integrated operationalization engine that can enable insights to be published into the execution systems and/or visualization systems of customers; and, a closed-loop recalibration engine that can act on incremental data feeds to adapt pre-built algorithms based on the underlying changes in data.
On top of all of this, Nuevora’s algorithms work on disparate sources of data (transactional, social media, mobile, campaigns) to quickly identify patterns and predictors in order to tie specific goals to individual marketing tactics.
Second part of the interview will be published soon.
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