[Exclusive Interview] This Startup Founded By IIT, IIM Alumni Is Empowering Businesses With Data Engineering
Recently, we interacted with Anuj Gupta, COO & Co-Founder, Eucloid Data Solutions and Raghvendra Kushwah, Co-Founder, Eucloid Data Solutions, and asked them about their vision of their startup, and how they are leveraging the power of data analytics, data science and data engineering to empower businesses.
Here are the interview highlights:
Please take us through the journey of Eucloid. What were the challenges encountered during the journey and how did you overcome them?
Established in 2020, Eucloid is the brainchild of industry experts – Raghvendra Kushwah (IIT & IIM alum) and Anuj Gupta (IIT & ISB alum), who have years of expertise in helping digital commerce companies scale profitably. The two batchmates from IIT Delhi came together to set up Eucloid with the aim of helping clients acquire untapped customers, optimize conversion, retain customers and cross-sell/upsell through Data Analytics and AI. In just two years of its inception, Eucloid has created a strong portfolio of solutions. It counts in its roster global market leaders, including a Fortune 100 client, a publicly listed D2C Unicorn, and a leading specialty insurance player.
The digital commerce space was plagued by data-related challenges – right data collection from the right channel, customer acquisition at a reduced cost, and tapping the relevant target audience. To counter these challenges, Eucloid operates on a unique approach of a highly customized and end-to-end data infrastructure. With a greater degree of emphasis on its core consulting expertise, the data consulting firm deciphers data smartly and designs the complete roadmap for the brands to operate profitably in the digital space.
What is the problem you are trying to solve through your services?
Eucloid provides data consulting solutions, including data analytics, data science and data engineering. It helps companies maximize revenue using Analytics & Machine Learning throughout the customer lifecycle – Acquisition, Conversion, Retention, and Loyalty. For example, it makes it easier for client brands to calculate the lifetime value of existing and potential customers through cohort-based segmentation using advanced data science models. In addition, it orchestrates marketing campaigns using tools such as Customer Data Platforms (‘CDP’) across multiple channels to ensure consistent customer experience and engagement opportunities, leading to higher customer retention.
The firm has also forayed into the domain of data engineering by leveraging its expertise on CDP, aggregating, and organizing customer 360 views across myriad touchpoints, building an event-driven architecture, getting metadata-level insights on enterprise datasets, and tracing the entire journey of data solutions through its lineage solutions. Lastly, its expertise in keyword analysis and SEO enhances local search results and enhances user experience through data-driven approaches.
Elaborate on the present market scenario? What kind of business opportunities do you see in this space?
With the extensive amounts of digitization and online transactions, the amount of data being generated by businesses is immense. Nearly 79 Zetabytes of data was created in 2021 (Statista). Large businesses today realize the potential of data intelligence and resulting competitive advantage they will generate if they capture, organize, analyse and churn this data efficiently. And this trend is expected to become stronger in the years to come. And as per an IDC report, new data created, captured and processed is expected to double by 2026.
But Is the data being captured and organized properly? How do businesses draw insights from this data? What should be these insights? What are the data security and data governance parameters to be looked at? As we go to market and talk to customers, these are the business opportunities that immediately present themselves to us. As we dive deeper with our expertise, we unlock more business opportunities like uncovering B2B and B2C consumer insights, setting up a 360 Degree CDP, data pipeline setups and so on.
Data Analytics is a rapidly growing domain and as business touch points, data types, quality and granularity get enhanced, we are confident more business opportunities will continue to emerge
What different aspects is Eucloid bringing to the table that makes it stand apart from counterparts?
While there are many companies operating in this space, Eucloid continues to differentiate itself through its end-to-end data consulting capabilities, strong delivery mindset besides relentless focus on customer success. In addition, we are very particular about hiring only the best in class consulting professionals. We take immense pride in our team of high-performing, ambitious, diverse, and highly accomplished individuals with educational backgrounds from top-tier institutes and work experience from top product, tech, analytics & consulting firms.
Could you shed some light on your tie-ups and partnerships so far? Are there any agreements that are in the pipeline?
Eucloid has partnered with prominent technology names including Databricks, Adobe, Twilio, Snowflake and many others which highlights its first tech-approach towards generating insights and business value at scale.
Tell us about your future plans.
The company is aggressively moving on its growth trajectory and also is on target to open one more office in Hyderabad by next year. Since the data consulting firm is already serving clients from the US and Europe, it also plans to expand globally in the next 4 years.