Astutrix Technologies Pvt. Ltd., a Digital native Data Sciences services company announces the launch of Cogniticx (www.cogniticx.com), India’s first discovery platform for Data Sciences Consulting.
Cogniticx, conceived as a data science talent marketplace, is aimed at a large scale, value added job creation for the phenomenal number crunching talent that India possesses. It enables an efficient matching of demand and required skills at optimal price points.
Rishi Bagga - Co-founder and COO, Cogniticx
According to Co-founder and COO Rishi Bagga, “The rising entrepreneurial aspirations of the youngest population on the planet puts Cogniticx in a sweet spot, as it could facilitate a new generation of entrepreneurs, “The DataPreneurs” who typically start as freelancers on the platform, but eventually may branch out as boutique data science firms, fostering innovation at the grassroot level."
For the Clients who may need these services, Cogniticx aims to play a stellar role in bringing down the cost of adoption of Data Sciences as well as improve success rates due to its razor sharp focus on delivering outcomes (read results). Cogniticx aims to deliver this success with its disruptive business model wherein Clients could opt for an on demand, outcome-based analytics adoption, one which is agnostic of the analytics application used and the skills required to run it.
Cogniticx has simplified the approach for enterprises looking to augment their teams temporarily or for first time Analytics clients by making it very simplistic; hire Data Science professionals from Cogniticx’s on-demand analytics services platform, one’s who may leverage extremely popular open source applications such as R and Python and provide insights for optimized decision making at a desired frequency. In such a case expensive technology acquisition becomes an option rather than a mandatory condition for clients.
As per Rishi Bagga, “In most organizations having an Analytics requirement, a well-known and addressable business challenge quickly metamorphoses into an IT challenge - which software to procure? One that not too many have a clue of! Add to that the onerous nature of hiring the right skills and continually upgrading them makes matters worse. All this for just testing a hypothesis as one needs to incur the costs even before the organization has realised any ROI from the investments made.
On the supply side, a Data science service provider benefits by being able to reach their most likely customers, which they’d not been able to reach independently. Further, the underlying principle of sharing economy helps unlock what we call at Cogniticx the “Latent Value of Talent”. The Data Scientists could monetize their skills and time better, facilitated by this efficient matching mechanism enabled by Cogniticx.”
According to consulting bellwether, IDC the worldwide Data Science market size is expected to grow to USD 210 bn. by 2020, presenting a huge opportunity for India’s talent to leverage.
Further, according to a McKinsey research, by 2025, online talent platforms can increase GDP by up to 2.4 percent in seven focus countries, namely United States, the United Kingdom, Germany, Japan, China, India, and Brazil translating to a GDP uplift of USD 550 bn. – 1 tn. by 2025. Specifically, in India the impact on GDP is anticipated to be in the region of 1.9% amounting to an estimated USD 222 bn.
Rishi Bagga, who in his previous role with SAS was responsible for scaling up operations in the manufacturing and energy space for about a decade exclaims, “It is this opportunity that IDC and McKinsey have endorsed and the oncoming data deluge enabled by IOT and Artificial Intelligence applications that has us really excited about the prospects of Cogniticx! We hope to play a significant part in shaping the careers of India’s Data Sciences trained youth.”
Disclaimer: This article has not been edited by Deccan Chronicle and is taken from a syndicated feed. Photos: NewsVoir....