M76 Analytics: OFFERS A BREAKTHROUGH CONTRIBUTIOUTION IN THE FIELD OF DECISION SUPPORT ANALYTICS
“Striving for Success without Hard Work is like trying to Harvest Where You haven’t Planted.”~David Bly
Words inscribed above carry the essence of absolute truth and reality. Dreaming for success is great, but dreaming of its conversion into reality without thriving for it is a kind of cage of self-created illusion, which leads you nowhere. Jai Mrug, a technocrat and the founder of M76 Analytics, is a paragon of incredible efforts and persistence.
Jai Mrug, the maverick, to inspire the generation says, “You ought to come out from the nutshell and be little eccentric or odd for living your passion that excites your soul every day.”
On the same notion, the exemplar- an IIT Bombay graduate, returned to his home-after-home to pursue his dream of disrupting Big-Data Analytics. That was a huge step taken but it was worthy of all. Jai gathered a team, incubated the company at SINE IIT Bombay, and invested all his experience in number crunching, statistical analysis and psephological study to build software toolkits which can directly serve Business and Political leadership as strategy assistants.
He worked at esteemed IT product and services companies like SAP for more than a decade. The prestigious Patni- his alma mater- a gateway through which a multitude of elites in Big-Data industry emerges. Jai Mrug’s exceptional work in psephological survey and study of Indian sub-continent opened a window of the deepest insights of the politics and political strategy for the benefit of laity.
The expert’s work as a retainer psephologist for Times Now is well renowned for the depth of analysis and ease of understanding using innovative visualizations for addressing the mass audience.
GLANCE AT THE DETAILS OF M76 Analytics
M76 Analytics was incubated and funded by IIT Bombay with a vision to lead the market in AI adoption and to help businesses in obtaining the best out of their Big-Data. After years of strenuous efforts and enriching experience, M76 launched the first-ever Business Decision Support System- Mego that assists business leaders in taking important financial and operational decisions. With the passage of time, Mego evolved into a powerful business strategy toolkit with more than 8 thought toolsTM in its arsenal. Each thought tool emulates the business user’s thought process that processes data in line with his intuition. Control and contextualization of Big Data have proven to be extremely useful for business leaders.
In an industry where pilots of AI have a meekly success-rate of less than 15%, M76 Analytics met business leaders’ intuition with numbers in 100% of cases.
Since the inception of the team, M76 has solved many interesting and challenging business analytics problems. From deciphering multi-dimensional analysis of channel-wise profitability to building simulation templates to analyze business stimulus, Mego provided Business leaders with the actionable analytics that they have been direly looking forward to achieving.
Implementation of Mego’s state-of-the-art advanced planning and optimization algorithms which run on-the-go is one of the greatest disruptions in supply chain operations. Bringing Big data analytics to the fingertips of floor manager (or plant manager), who without any knowledge of statistics or Big Data can take decisions that would minimize the overall costs of the organization.
Mego, at present times, is proving its capability to materialize Big Data into monetary benefits across business verticals including Banking, Finance, Foreign Exchange, Logistics, Manufacturing, and Insurance.
Today, Mego is assisting top management of these organizations in taking their everyday decisions and building long-term business strategies. As Mego provides this assistance, it is taking a giant leap towards the AI vision of Business leaders.
Mego is more than a Decision Support System. It is built with well-researched interfaces that speak to the business leader rather than a technical user. The more a Business leader uses Mego as his strategy planning workspace, the software learns to mimic the user’s simulations and decisions. This cognitive nature of software is an absolutely essential element in Business AI.
Within a few years, their clients are going to be the pioneers in AI adoption. They aim to help in leveraging their position as pioneers and get the best value out of their Big-Data.
SYNC. WITH THE LATEST TRENDS
The huge anticipation to achieve the promised prophecy of Big-Data created a flourishing space for powerful Big-data, planning, optimization and visualization softwares. However, each one of them is a siloed application in itself and few of them had the capability to scale up the dimension that a business leader would require them to. To compete in the market, they have expanded their capabilities beyond Data Science, Decision Intelligence and Business Strategy formulation. Today Mego is equipped with a powerful library of optimizers, dedicated frameworks for quick automation of work flow, simulation toolkit for strategist controlled business scenario simulation, and a powerful interactive data visualisation tool where pre-built thought emulation tools are kept readily available. Apart from this, the product (Mego) operates on a bed of predictive algorithms which constantly derive future signals and keep them ready for simulation, and it also has a very efficient alert system along with sensitivity control.
VOYAGE TO THE CLIENTELE
With Mego, Business Leaders are equipped with:-
Machine driven root cause analysis for any business-dynamic made immediately available upon request. (Thought PinTM). Smart optimization algorithms so efficient that they run on-the-go. (Mego Library)
Machine driven investigation into anomalous business signals and fraud. Decision support templates for making inventory decisions on the go. (Thought GridTM) Simulation tools to virtually emulate real business behaviour and effect of a particular action on the business state. (Thought SimTM) For a very large Manufacturing company, the network transportation cost was brought down to 2.7Cr from 3.5Cr. A whopping 70Lakh saving per month. Mego optimization module achieved a 20% reduction in transportation cost.
For a Logistics company, work flow has been automated to save above 1500 man-hours every month.
A large mutual fund company uses Mego to save an estimated 40 Lakhs per month by indulging itself into a constant feedback loop with risky sales channels. The organization manages a huge network of brokers. However, the monthly decline in business is majorly due to 10-20 (i.e.0.001%) brokers who share about 80% responsibility for the downfall. Mego’s thought pin singles out these brokers and shows risky assets in their portfolio so that CFO can directly do the needful to mitigate the situation.
A large Forex trading company uses Mego as its fraud investigation assistant. Apart from triggering alerts on known types of fraud analysis, Mego also notifies Management about discrepancy signal along with the seriousness of the discrepancy. The organization is today agile on its feet, investigating many cases than before (when the investigations were done using excel functions). Mego is helping management catch unanticipated fraudulent behavior and acts upon it immediately.
Mego’s political strategy toolkit is helping the audience of Times Now to understand Indian Demographics, political scenario, possible future outcomes, and consequences.
TRUST OF THE CLIENTS MATTERS MOST
Everlasting faith of the clientele can be achieved by meeting the Business Managements’ data-based decision support requirements in a way that they cover 120% of the scope and give 360 degrees understanding of the business scenarios. Such delivery encourages business leaders to expand their thinking about what is possible with statistics and come up with more intuitive business strategies.
In a market ridden with run-of-the-mill service providers who install one-size-fits-all software and are way too enthusiastic to say “it is not possible”; M76 is the only organization that implores Business Leader’s to expand their imagination, reimagine thinking and come up with more and more business strategies. This trust of business leaders on the process of development and capability of software is a crucial and immediate milestone to be crossed if we ought to enjoy the fruits of AI within the next decade.