Wipro investing in tech to help Fortune 500 cos exploit, monetise data: CEO

Data is going to be the currency of the future and the company has invested heavily in it, Wipro CEO Abidali Neemuchwala has said.

"We are seeing a significant ability to transform customers in the data space, and we feel very upbeat about this because as you rightly said data is going to be the currency of the future and we are very heavily invested in this area," he told PTI here.

When asked if Wipro had engaged start-ups to monetise data, which will create jobs and automatically check layoffs, he said, "The company has made strategic investments in about 12 startups and some kind of strategic alliance with another 20-22 startups, and out of them all at least 20 per cent of them are in data and data-related areas."

Neemuchwala also said the company has invested in some very specific IPs which are internal company IPs, and also bagged a very significant deal with a customer couple of quarters back.

"They are in data business and we are using Wipro technology to help them support Chief Marketing Officers of Fortune 500 companies to utilise their data better and monetise their data better... So, we have leadership position in our analytic practice and our significant part of revenues comes from there.. We are seeing a significant ability to transform customers in data space," he said.

Wipro President and Chief Operating Officer B M Bhanu Murthy said Wipro's analytical business has grown significantly well this quarter.

To a query on the size of investment in data, Bhanu said the company's investment in big data has been on a day-to-day discovery platform (DDP) which has gained significant traction in the last two quarters.

Bhanu further said the company is able to leverage DDP with a couple of its investments to help a lot of organisations mine huge data they collect and big data available externally, and hence it is seeing good traction and its investments are paying off through analytical.