The Silicon Review
Information has become one of the most sought-after commodities in the world. Internet companies that handle several terabytes of user data have enormous influence over how popular opinion of products, services, social sciences influence sales. Businesses require up-to-date information about their market scenarios and any potential competitors looming about. Business intelligence has become an industry by itself, with large corporations spending millions of dollars to stay ahead of any market fluctuations. Startups have made it big by offering the best business intelligence. One such provider is named Dataweave.
The internet is the largest source of publically available information in the world. Today’s business leaders recognize the immense potential of harnessing external and competitive information from the web to aid in enhanced strategies and decision-making. However, information from the web is difficult to aggregate and analyze in a meaningful way, since it is unstructured, transient and noisy. This is where Dataweave comes in. Powered by artificial intelligence, Dataweave provides easily consumable and actionable competitive intelligence by aggregating and assessing billions of publically available data points on the web to help businesses develop data-driven strategies and make smarter decisions.
One of a Kind Technology
Distributed Data Aggregation Platform
Dataweave’s large-scale data aggregation platform can acquire millions of data points from the Web across geographies, ZIP codes, and languages, every day. And it’s not just from web pages, but mobile apps as well, providing a comprehensive view of the online competitive environment. The company’s data-aggregating engine is built to operate across complex web environments, capable of acquiring data from diverse industry verticals and online platforms. Dataweave also maintains a historical store of all data acquired, enabling the company to deliver unique, and time series insights. Once all the data points of interest are acquired from the web, they are then processed for information.
AI-powered Data Enrichment
Due to the inherent noise and lack of structure in web data, Dataweave uses advanced normalization techniques to clean the data, including AI-powered image and text analytics. On organizing the data, the company begins unearthing meaningful information from it.
Complex machine-learning and information retrieval algorithms are used to build semantic models, which in combination with proprietary knowledge bases built since inception, help them make sense of the data. For example, by using deep-learning techniques, Dataweave classifies products into retail taxonomy; identify product attributes based on unstructured text features, and tag complex product features like the length of a skirt, a collar's type, and more by analyzing images.
This information is used in categorizing and matching e-commerce products across websites, grouping together similar products, and providing similar product recommendations.
Businesses make critical decisions that impact their top line and bottom line using the insights delivered by Dataweave. Therefore, in scenarios when the confidence score of the machine-driven math is low, the company leverages human intelligence to ensure 95%+ accuracy.
Their quality assurance team takes three actions – confirms the veracity of the conclusion, investigates why the confidence score is low, and figures out a way to encode this knowledge into an algorithmic rule.
This way, they have built a self-improving feedback loop which, by its very nature, performs better over time. The system has accumulated knowledge over the last 7 years of our operations, resulting in a very high accuracy output.
Diverse Delivery Modes
All the insights are of little use if businesses are unable to consume them easily and put them into action.
Dataweave’s SaaS-based web portal provides businesses access to derived insights through dashboards, reports, and visualizations. They present customized insights for each persona, enabling swift actions on relevant competitive intelligence. These include day-to-day tactical recommendations or inputs for long-term strategies.
What’s more, their data can be accessed using plug and play APIs as well, enabling businesses to combine their external and internal data to generate predictive intelligence.
In today’s online-first era, shoppers easily compare prices across several e-commerce websites and often buy from the lowest priced retailer. In fact, it has been observed that price ranks as the most influential factor in consumers’ decisions when buying products. Dataweave’s pricing intelligence solution is designed to give customers accurate, timely and actionable insights on the pricing of thousands of products across any number of competitors.
Build the desired price perception among shoppers
Dataweave’s innovation helps clients maintain a healthy, competitive price position for all of their products across various product-types, categories, and brands.
Identify and act on areas where competitive price position can be optimized to trigger more sales or drive the desired price perception.
Drill down to observe detailed pricing insights on product categories of interest against specific competitors.
Meet The Driving Force behind Dataweave’s Rise, KarthikBettadapura, Chief Executive Officer
Karthik has over 10 years of technology leadership experience and has built and managed large-scale Web and data analytics products and platforms. Prior to co-founding DataWeave in 2011, where he drives the company's vision and business development strategy, he was part of the team that built CNBC's online property called Web18. He holds an MTech degree from IIIT–Bangalore, where his research focused on Information Retrieval, Advanced Databases, and Distributed Systems.