Bengaluru-based Datatribe builds affordable and SaaS products for organizations that help them harness their own data. Its first two products are myLearn (an organizational learning platform) and Parcel (a product cycle management platform), and the company plans to release a performance management product later this fiscal year. Each of these products are Tier – iI ERP products, which founder and CEO Nikhil Chandra says are easy to deploy and provide real time tracking and analytics.
We spoke to Chandra to learn more about Datatribe, what its business model is, and the roadmap ahead. Here are the edited excerpts:
How did you come up with the idea of Datatribe?
Datatribe came about based on our experience with taking our first two products (myLearn and Parsel) to market – for product details please see www.datatribe.co.in. While working with clients, we realized that a core problem for organizations across sectors and sizes was the inability to harness and utilize their down data that was being generated on a daily basis. This could be people-based data (like learning) or product data (like production, storage, delivery) or performance-based data (like productivity) and creates a strong need for data
focused technology products. We also believe strongly that this wave of data focused technology has begun the world over and will fundamentally change the manner in which business is done.
Please help understand how you generate revenues. (Explain business model).
Since we are a B2B focused organisation, our revenue model is based on subscription charges from organisations. This could be a one time subscription or a recurring subscription amount depending on the product. For e.g. in myLearn we charge clients on a per enrollment/subscription basis for roll out of existing content on the platform and provide clear proving options on the platform itself.
What are the key challenges in the industry that have not been addressed yet? And how do you plan to address this?
The key challenge with respect to data is the lack of an easy system to access data and make it available to the right people within an organisation. This challenge can largely be addressed only by technology and current systems to do so are expensive and cumbersome to deploy (essentially large-scale ERPs). We are addressing
this by providing the SME and enterprise market with affordable, SAAS based data driven products for multiple parts of their business.
How are you using technology to solve challenges in the industry?
Aside from being SaaS-based and easy-to-deploy, one of the key items for our products will be the enhancement provided by AI/ML tools. For e.g. in the Parsel product we have integrated an AI/ML fulfillment tool that ensures not only putaway and pick list generation but also efficient use of manpower in warehouses. Also, in myLearn we have a unique Dashboard that allows the organization to directly deploy and manage all their learning requirements while providing real time data. The Dashboard also allows an organization to track learning across SBUs, designations and teams to ensure that actionable data intelligence is available with them.
How has your startup performed since inception?
We have just taken both our products out of proof of concept, and this is the first year for Datatribe. During proof of concept, myLearn created learning outcomes for over 20,000 employees at multiple organizations including Hindalco Limited and the Tata group. Similarly, Parsel has between 400-500k monthly SKUs on the platform.
What are your short-term and long-term goals in terms of product and business expansion and diversification?
Our short-term goal is to build a pipeline of recurring revenue across our product portfolio. This has started well in this FY and we aim to be at a profitable MRR and over 4 million monthly SKUs on Parsel by H2, FY25. Our longer-term goal is to help SMEs and Enterprises become more productive and competitive using their own data along with scaling a profitable global business.
Who are your nearest direct and indirect competitors? Which are the larger global players in the industry?
Each of our products have specific competitors locally as well as globally. For e g. The primary competitors for myLearn are Coursera and udemy which provide organizational learning alternatives in a slightly different fashion.
