Bangalore based Retail tech startup Snapbizz Cloudtech’s founder Prem Kumar realized in the past one year that staples were least affected in the demand side of business while package goods bore the maximum burnt.More insights like how Pune and Bangalore’s retailers were less impacted compared to the rest of the country due to the demonetization woes helped Kumar and his team prepare better for retailers in metros.
All these critical insights were made possible by the 18 member data analytics team out of which some are even outsourced. The startup which has so far scaled more than 2000 kirana stores with their product offerings has used Microsoft Azure platform for the compute power required behind such real time analytics.
“Computing is done on the cloud while there is a native layer on the tablet wherein on the fly real time reporting happens. Whatever happens on the store level is backed up on the server at later on,” says Kumar.
SnapBizz provides partner companies like P&G, Kelloggs, etc. the datasets pertaining to market insights which they use to improve offerings to their customers.
The data analytics team at SnapBizz helps retail brands and other ecosystem players with information around fast and slow moving products in the market, according to which retailers and brands can make informed decisions while stocking on newer products.
This was based on the data collected on an everyday basis from retailers across India. “One third of the investment will go into technology which includes analytics while the rest will go into market expansion.”
The valuable insights provided by the data team helped SnapBizz get ready for the overseas markets and plan out further into tier 3 and 4 towns in India. “We have seen interest from Philippines, Indonesia and Vietnam,” says Kumar.
Moving into the future, they plan to move into newer geographies in Asia and make further inroads in the Tier 2 and 3 markets in India.
Kumar plans to invest more in the technology side of things based on data patterns. “We shall continue to invest more in developing the UI of our products and become more outcomes driven and deliver insights based solutions,” says Kumar.
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