Teaching Machines to Understand People, Toovio Forays in Indian Market

January 11, 2018

  • Toovio platform combines Big Data, Machine Predictive Modeling and Real-time Decision Management
  • India Business Intelligence and Analytics Software Revenue to Reach $287 Million in 2018, expected to growth of over 20% YOY while overall software industry is growing at steady pace of 10-11% YOY.

MINNEAPOLIS, USA / BENGALURU, India – January 11, 2018 – Toovio, a leading data technology company which helps enterprises to boost revenue, improve profitability, and increase customer engagement by taking action based on real-time based customer behavior insights, today announced its entry and direct presence in the fast-growing India market. Toovio is a SaaS-based marketing solution provider focused on enabling multi-channel offer orchestration, built from the most sophisticated decisioning framework and capable of managing the complete customer life cycle. Toovio assists a range of industries in driving profitable business between the organization and its customers.

Ashutosh Mehrotra, Business Head at Toovio Software said, “As businesses head towards the modern age of analytics, we are excited to officially introduce ‘Toovio’ in India. We envision teaching machines to understand people. Specifically, to teach machines to customer behavior and understand marketers’ strategy, tactics and objectives so it may better apply advanced data technology solutions that are consumable and deployable by organizations at large. Toovio values stand tall as we judge ourselves by quality, speed and the cost of applying data technology solutions.”

Toovio is committed to provide zero-cost based deployment, short time to value, most trusted, truly scalable, cutting edge technology for wireless telecommunications, retail, banking, healthcare, and other consumer-based companies. Toovio is backed with global expertise of implementation of over 45+ real time decisioning platform.

Toovio brings to Indian organizations its core expertise in four domains for handling data analytics & decisioning platform in real time across the enterprises.

  1. Data Cultivation: Amalgamating the structured & unstructured data from multiple source and breaking down the data in ready to use/ business viable information state.
  2. Feature Engineering: Using domain knowledge of the data to create features that make machine learning algorithms work
  3. Adaptive Predictive Modeling: Every decision, every customer, and every single offer should be accompanied by a prediction that is consistently accurate and automatically adapts to changes to underlying data correlations. This capability operates with no human intervention.
  4. Decisions: Filter choices/offers, score and derive necessary data at run time and then make the best decision.

Ashutosh Mehrotra further added, “Our mission is to optimize every customer engagement and revenue metrics through data technology solutions that thrive on three key characteristics: identifiable customers, high frequency transactions, and lots of choices for customers to engage and buy. Toovio engages customers ‘in the moment’ when the propensity of customer purchase is the uttermost.”

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About Toovio Software

Toovio is a leading data technology company which helps enterprises to boost revenue, improve profitability, and enhance customer experience by taking action based on real-time, customer behavior insights. The company was founded in 2010 and has 50+ man-years experience in the real-time marketing. Toovio is a SaaS-based marketing solution provider focused on enabling multi-channel offer orchestration, focused primarily on customer life cycle based analytics like acquisition, cross-sell, and customer retention scenarios. Company assists a range of industries in driving profitable business between the organization and its customers. Toovio is headquartered in US, and has direct presence in US, UK, Paraguay and now in India as well. To know more, please visit http://www.toovio.com/.


Outlook 2018: Data Technology Trends that will redefine the way Companies do Business

January 3, 2018

In the ever-changing IT landscape, 2017 was no different. This year has witnessed many disruptive technologies emerge and make headlines worldwide. Terms like Artificial Intelligence, Machine Learning, Cloud and Blockchain became the brainstorming topics of discussion for boardrooms across the world. These technologies will continue to impact businesses and will certainly become integral parts of companies’ plans to lead in the future.

The machine learning market is expected to grow from USD 1.41 billion in 2017 to USD 8.81 billion by 2022, at a CAGR of 44.1% globally.  Why? In past years, the rapid increase of large and multidimensional data sets, proliferation towards data-based real-time problem solving and rising demand for sophisticated algorithm platform along with advanced tools contributed to and will keep contributing towards the adoption of machine learning across the globe in the coming years.

By keeping all the hot phenomena in mind, Ashutosh Mehrotra, Business Head, APAC Region at Toovio, has highlighted three key trends in “data technology” that are likely to dominate discussions and will have an immense impact on how companies will be doing business in 2018.

Companies will look for an Advanced Decisioning Platform that can- “Sense”-“Comprehend”-“Act”

Data analytics and business intelligence will play crucial role in the overall business strategy to make better and faster business decisions. Companies will continue to leverage the power of data analytics and look for “top line” to be specialized in the field of data science.

Undoubtedly, Machine Learning (ML) has come a long way in the past few years and has changed the way companies look the way they need to do business. From voice-powered personal assistants like Siri and Alexa, to more underlying and fundamental technologies like behavioral algorithms, suggestive searches, network optimization, pattern analysis, fraud detection, customer identification, churn prediction, recommendation engines, etc., these are a few examples and applications of ML in use today.

Technological advancement has made almost everything possible. From accurately predicting Customer Lifetime Value (LTV) to pinpointing a customer’s preference and populating the best offering, network operators are truly reaping the benefits of continuous improvement in targeting the right audience at the right time in the right channel and with the right content by implementation machine learning techniques. Since powerful predictive capabilities came into existence, companies are investing heavily on voice assistants, chatbots, and other intelligent business processes.

Companies will head towards “Hybrid Multi-Cloud”

Why will companies look forward to it? Moving to a hybrid cloud environment helps organizations save money and become more efficient and agile. It offers multiple level of flexibility, scalability, security, and reduced latency. Most importantly, cloud service providers are incredibly reliable, maintaining up to 99.999% uptime. Another benefit of cloud based infrastructure is that cloud drastically reduces capital expenses and downtime is the rarity. Organizations need not invest in hardware, facilities, utilities, or building out a large data center to grow their business thereby leading to zero capital investment and low maintenance.

Companies have already started moving to “Hybrid Cloud” and will keep leveraging the benefits.Gartner estimated that by 2020, cloud adoption strategies will influence more than 50 percent of IT outsourcing deals. The largest market will be the SaaS market, which will double to $75 billion by 2020.

That said, this will be a productive year for data technology companies who offer Software as a Service (SaaS) on cloud deployment. Moreover, it will be the year for companies who work on an automated machine learning methodology and provide real time interactive management platform addressing customer behavior through cloud based services for consumer based companies.

Predictive Analysis to offer Radical Discoveries

Data will continue to be the “King” and will play a crucial role in predictive analysis. The way data movement has taken over in a short span, is something C-Suite and technology analysts are embracing. In the last few years, companies have been undergoing data-driven digital transformation and leveraging data as a strategic asset. Data-driven decision making has caught fire as companies find ways to use the vast amounts of data they collect to gain a competitive edge for better service and a better-quality experience for their customers.

According to an estimate by the International Data Corporation, “global data doubles in size every two years and by 2020, it will reach over 44 trillion gigabytes.” Witnessing the data explosion at this rate, businesses will look for various ways to stay competitive.

Predictive analytics connects people for greater predictive power and high-impact insights. It enables leaders to make radical discoveries about their companies and dissect and solve complex business challenges. As a result, companies offer better business strategies leading to higher productivity and performance. Several mounting ingredients promise to further spread prediction even more ubiquitously: bigger data, better computers, storage sufficiency, wider familiarity, and advancing science. We’ll witness more prediction usage and involvement in time to come. Data-driven businesses are the way of the future for companies competing in today’s era of big data.

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