Modak Analytics to expand into BFSI, consumer goods sectors

Modak has developed customised and proprietary technologies that are useful in pan-India data mining for customised marketing and advertising approaches

Hyderabad-based startup firm Modak Analytics is all set to offer its data analytics services to corporates in banking, financial services and insurance (BFSI), consumer goods (FMCG) and telecom, said its co-founder and executive vice president Aarti Joshi.

“We have gained the requisite data analytics capabilities to FMCG, BFSI, retail and telecom sectors,” she said.

Started three years ago, Modak has developed customised and proprietary technologies such as rapid extraction, transformation and loading (RapidETL), transliteration of Indian languages and data dictionaries of Indian states, which are useful in pan-India data mining for customised marketing and advertising approaches.

Its first pan-India project making use of these in-house automation technologies is the extensive demographic data mining of India’s 814 million voters for a leading national political party.

“The experience of mining 25 million open source data pages of Election Commission published in 12 local languages had given us the necessary push to develop customised data warehouses for corporates across the world,” said Milind Chitgupakar, chief analytics officer of Modak.       

Chitgupakar said the US market remained top priority besides Europe and Latin America.  The company had invested Rs 60-70 lakh so far, and may see business breakeven in one year. He expects revenues to touch Rs 1 crore in the current fiscal and Rs 3 crore in the fiscal 2015-16.