If you thought an ‘app store’ was just a digital marketplace for mobile apps, then you need to have a rethink. Indian firm, Nanobi Analytics, has redefined the term ‘app store’ with its cloud based BI platform offering analytic applications for use by various industries.
This Bangalore based start-up is only 11 months old, and has come up with this amazing idea of an analytics app store. The concept serves a large untapped group in analytics deployment, killing the notion that analytics usage is expensive and time consuming. Winner of the Microsoft BizSpark India Startup Challenge 2013 , Nanobi Data and Analytics Pvt Ltd aims to deliver analytics with a difference. It has also been listed as one of the Top 10 emerging technology start-ups for its innovation in analytics.
The Nanobi analytics app store, going by the name theanalyticstree , has content rich apps across various industry verticals and horizontal domains. I looked up their Financial Services app FPA Lite Edition. The product description says, “whether you are looking to aggregate data across multiple systems or looking at managing your revenues and expenses or improve your working capital efficiency, the FPA App can give you insights into your financial data and provide you a comprehensive view”. This app walks you through a process of downloading the Nanobi Tally Adaptor which offers capabilities of Revenue Analysis, Expense Analysis, Performance Overview, Balance Sheet Analysis and Ratios. With a trial subscription of Rs 899 per month, it just takes max an hour to have your financial analytics app up and going for your business!
As the apps are built on a cloud based BI platform, based on the open rest architecture and HTML5, analytics becomes easy to use, both for solution designers and business users. According to ZDNet, the app store provides “multiple deployment models designed to address enterprises of different sizes and requirements”. The value to the 8.8 million SMEs in India across different industry verticals can be tremendous.
Small businesses that are growing at a rapid pace and need to deploy analytics on a priority basis, may not have the budget for an analytics infrastructure to be put into place. Nanobi Analytics caters to this segment with its easily affordable subscription formats for both on-premise and SaaS delivery models. What’s more, its pre-built industry solutions with expertise of various domains, facilitate the easy and quick connect with the business’ enterprise app.
“Customers just need to subscribe to the analytics app and download the data connectors, which pull out the required information from the concerned SMB’s enterprise app – like ERP or CRM or others – and then push this to the analytics platform. This means, in less than one hour, an organization can subscribe, pay and get instant access to their business analytics on the cloud”. (Information Week)
In an interview with Analytics India magazine, the Founder CEO and MD, Mahesh Ramakrishnan, shares some of Nanobi’s visions and success stories.
Currently focused on the Indian market with plans of a global expansion beginning next fiscal year, Nanobi Analytics is yet another Indian start-up initiative in analytics that aims to make “analytics delivered simple, agile and pervasive” (the Nanobi mantra).
Our takeaway is that, analytics professionals with a vision and a drive can strike gold with new solutions in the vast and fast-growing analytics landscape. Lack of funds need not be a hindrance either, in a setting where angel investing and grants are available options, as Nanobi has proven.