Best Startup
Quilytics is a new-age emerging venture offering Business Analytics and Advanced Analytics Solutions to companies in Digital Marketing, Supply Chain, eCommerce, Retail, Finance, Healthcare, and other fields.
It is a US based end-to-end data analytics consulting firm that specializes in understanding business data and providing meaningful insights. Team Quilytics succors organizations with gathering data and leveraging it in the most sophisticated manner. It aids companies to achieve competitive advantage by making critical decisions utilizing relevant business data.
Quilytics is on a mission to help companies leverage data, in the most privacy-focused manner, enabling them to make informed decisions and provide real-time value in driving their business forward.
Our vision is to empower companies of all sizes with seamless data transformation and innovation capabilities and help them be extremely data driven.
Tell us about yourself?
Shikha Shah, Founder and CEO, has a solid 8 years of experience in working in analytics consulting companies at multiple levels. She observed these basic challenges in utilizing data to its full capacity up-close.
As the pandemic dawned and work became remote, she had an epiphany to leverage her experience as an independent consultant.
Hence, she collaborated with a Supply chain consulting firm to offer data analytics services as a freelancer for the purpose of streamlining their procurement data. Besides providing analytics services, Shikha focused on adding value to her client’s business.
She had recognized that customer retention was paramount to succeed in the consulting business. As the ongoing partnership grew, Co-founder Shawreen, realized that there is a potential to scale this service into a business. He laid out a plan with details of what is essential to form a company.
Mission, Vision, Service and Operation were identified to be the four pillars of their business. That seeded the inception of Quilytics. Shawreen worked as a Scientist for a Pharmaceutical company and has Masters degree in Chemical Engineering and Plastics Engineering.
If you could go back in time a year or two, what piece of advice would you give yourself?
If we were to go back in time by a year or two, we would give ourselves the advice to accelerate our efforts to reach out to relevant customers. To engage with potential customers using social media and other platforms.
What problem does your business solve?
Every business is born with the goal of solving a problem or optimizing a process. Analytics is a tool that streamlines and optimizes an operation in any domain- Manufacturing, Supply chain, Marketing, eCommerce or Customer service. Today, data analytics is imperative for businesses of all size. Lack of internal automations for overseeing large volume of data, insufficient techniques of data management and plenty of manual processes for reporting is an ongoing concern of many companies.
This causes the companies to devote a lot of time to manual handling of data and MS Excel reporting. First problem that Quilytics solves is automating all manual reporting and internal processes, so that the company can spend more time and strategizing and execution.
Most importantly, Quilytics builds automated data management systems to integrate APIs from siloed digital media, CRM or procurement platforms like Facebook Ads, Google Analytics, Salesforce, SAP Ariba, Net Suite, Epicor, IQVIA, and many others.
This is followed by storing and wrangling data and transforming it into a readable version for better comprehension.
Next step is to design performance dashboards, which allow users to scrutinize important metrics like Sales/Revenue, Conversions, Leads, Click-through Rates; metamorphosing it into a one-stop-shop solution.
This empowers clients to look into trends and gain a real-time view of their business KPIs and enables them to enhance their growth strategies.
What is the inspiration behind your business?
To build a business has been a life goal for Cofounder Shawreen Shah. When Shikha Shah’s first freelancing solution consulting project was turning into a success, the couple had an epiphany to chalk out a business plan around this service.
We would then go on to register Quilytics and establish a mission and vision for the company.
The core of our business is to provide data analytics solutions to companies in the field of marketing, ecommerce. supply chain, healthcare and fashion. Companies generate a tremendous amount of useful data by having an online presence. Quilytics helps businesses to make actionable decisions by integrating raw data and presenting it in the most meaningful manner.
For example, a technology-based fashion apparel company reported losses of over 50% in their ecommerce revenue due to the pandemic.
At this juncture, the company partnered with Quilytics to attain a thorough understanding of their target audience with a goal of increasing online sales.
To assess how the investments influenced conversions, Quilytics developed strategies using advanced analytics, accessing their historic data, and provided solutions to invest in statistically significant channels to enhance conversions and build brand recognition.
By allocating budgets in the right media channels and incorporating relevant strategies provided by team Quilytics, the client witnessed an uptick of 20% in their revenue in the first few months of the engagement.
What is your magic sauce?
Our approach towards data in any form is very undiluted. Quilytics has solved a data ingestion and classification problem for a company which is a distributor and seller of janitorial products and services.
It helped the company gain a clear cut picture about the product procurement decisions. Alternatively, Quilytics has also helped built a sales and incentive compensation data model for a Pharmaceutical company.
Customer success and retention is also one of our strengths. Our mission is to become data partners, who add value to our client’s business.
Hence, the approach that we have towards our customers is not only professional, but also amicable
What is the plan for the next 5 years? What do you want to achieve?
The journey for Quilytics has just started and there are a multitude of possibilities and opportunities that are in store.
The main focus is to gain more brand awareness along with new customers. The founders envision the company to grow both vertically and horizontally, but in a planned and structured manner.
This means Quilytics will target acquiring new clients in need of analytics solutions within Marketing, Supply Chain, Fashion, eCommerce, Retail, Fashion etc. for the next five years.
The founders also have plans to carve out a niche and gradually position the company in a strategic manner for which they envision hiring new talent to thrust the company in that new direction.
Both the founders are aware about the opportunities and risks involved with integration strategies, too. The vision is to pave a path of forward integration, by building fully programmed, sophisticated and easy-to-use product(s) for data automation.
The team is also passionate about extending its footprint in potential partnerships with product companies for providing high-end product support along with analytics consulting.
What is the biggest challenge you’ve faced so far?
Quilytics has faced its fair share of challenges. Shawreen and Shikha had recognized early on, that building a startup from scratch will continue to generate challenges at every step.
But they also realized that solving them one at a time, will not only make the company stronger, but become profound learning lessons. The biggest challenge that Quilytics has faced and continues to tackle is new customer acquisition.
And the root cause of this challenge is getting in front of the relevant customer. Professional networks have proven to be the most successful tools for the founders to reach potential customers.
It is manual and hence consumes a lot of time, but it is also very targeted and relevant. Quilytics has now undertaken organic and paid digital marketing and the founders are hoping that it will create some buzz and awareness for the relevant audience.
Quilytics is also completely bootstrapped. The company revenue is continuously invested back in the business to fuel growth. This has its own challenges as the founders continuously have to work to keep the company lean and make it efficient.
This majorly limits the number of employees that can be hired. But it also makes the founders more independent and have full control over all decisions.
How do people get involved/buy into your vision?
Any business in need for data analytics consulting can connect with us directly on the Contact page of our website: www.quilytics.com/contact-us/ or through our social media channels: Linkedin: https://www.linkedin.com/company/quilytics/ Instagram: https://www.instagram.com/quilytics/ Facebook: https://www.facebook.com/Quilytics
