Markets
BSE See NSE See 31,028.21
278.18 (0.9%)

Press Release

Enterprise Big Data Start-up IQLECT Set to Disrupt Business Analytics Space, Launch Real-time Analysis on Cloud at VLDB

Enterprise Big Data Start-up IQLECT Set to Disrupt Business Analytics Space, Launch Real-time Analysis on Cloud at VLDB

BANGALORE, September 12, 2016 /PRNewswire/ --

Real-time data analytics company IQLECT, the enterprise big data startup from Bangalore, founded by ex-CTO of Jabong.com Sachin Sinha and funded by Exfinity Venture Partners and slew of investors from the US, has just launched its cloud offering for real-time data analysis. In June 2016, Gartner in its 2020 predictions has outlined that by 2017, virtually all new analytic software purchases will begin as a free or low-cost proof of concept, enabling buyers to try the software before they buy. The IQLECT on cloud is built on these business fundamentals that enterprise today want to move away from spending large sums on evaluating big data tools and realising later that these were short of expectations. In the same report, Gartner says that through 2018, 70% of Hadoop deployments will fail to meet cost savings and revenue-generation objectives due to skills and integration challenges.

IQLECT offers a hardware-software converged platform to provide actionable data insights in real-time. Real-time insights are the need of the hour for businesses such as e-commerce, financial services, digital media, targeted marketing, mobility and internet of things. However, it is difficult to setup such an infrastructure currently since the available options are either costly or complex, requiring integration of multiple software components, which makes it necessary to spend months of effort just to get started.

IQLECT simplifies the overall proposition and offers a fully baked off-the-shelf software converged platform, either on the cloud or as a converged hardware-software all-in-a-box platform. The convergence of all necessary software and hardware in one box enables the users to get up and running in few hours, thus making the proposition highly scalable, cost-effective and easy to integrate and accelerates the time to market for enterprises.

IQLECT's offering on cloud is an end-to-end ready to consume solution using just screen clicks and can be deployed over a cup of coffee.

Users can select from a freemium pricing options and click to deploy the entire infrastructure and software on cloud. IQLECT's simple intuitive dashboard let users:

  • define the correlation or other eventing rules for pattern recognition, alerts and notification
  • run predictive analysis
  • social Media Analysis e.g., Sentiment analysis of Twitter stream
  • ad Personalisation
  • pixel analysis like Google's analytics platform
  • recommendation engine for an e-commerce store
  • fraud detection in financial services
  • monitoring Internet of Things (IoT) devices
  • data centre analytics and many more

Users will have the option to try out all of these free of cost before making the purchase which is a direct cost saving for IT departments of enterprises compared to resources deployed in selecting other analytic tools in the market. IQLECT competes with Microsoft, Amazon Kinesis, IBM and a few other open source tools. Looking at the competition, Sachin Sinha, CEO explained that besides ready-to-be-deployed solution which makes us among the very few who have this offering today, IQLECT is also a simplified and a cost-effective solution due to its architecture and propriety technology.

Real-time data analysis is poised to disrupt decision making in organizations- big or small and IQLECT is ready to play its due part in emerging IT landscape. IQLECT is expanding the geographical reach and building a line-up of clients in e-commerce, financial services, media and telecommunication industries.

Looking back at the journey of IQLECT leading to this day of cloud offering launch, Lip-Bu Tan, IQLECT mentor and board member of HP enterprise says, "We are proud of the team at IQLECT led by Sachin Sinha, which has been persistent in its goal of disrupting the analytics space. The IQLECT on cloud is a formidable tool and in times to come, it will play a pivotal role in shaping the landscape of data based decision making."

About IQLECT 

IQLECT is a big data analytics company based in Bangalore, India. IQLECT offers a hardware-software converged platform, for users to enable real-time data analysis for their businesses, in a cost-effective and process-efficient manner.

The team at IQLECT represents the best of minds and leaders who has decades of experience in this area from companies such as Amazon, IBM Research, Facebook, EMC, Informatica, Microsoft, Oracle, Yahoo, Novel etc. They have an academic background from reputed institutes like IITs, MIT, Berkeley, Univ of Utah, Univ of Wisconsin, Madison with B.Tech, MS and PhDs in Database and Analytic domains.

The company has raised US$2 million in seed funding from Exfinity Venture Partners. Exfinity Venture Partners is backed by software industry veterans such as TV Mohandas Pai, V. Balakrishnan, Deepak Ghaisas, Girish Paranjpe among others. The company has used these funds in expansion of team and product development. IQLECT is the first investment in analytic space by Exfinity Ventures and it believes that IQLECT has developed complete stack from ground up to quickly enable real-time analysis on the cloud or on-premise. The start-up has also raised an undisclosed amount in March 2016 from Lip-Bu Tan, founder of Silicon valley-based Walden International and CEO of Cadence Design Systems, Michael Marks, former CEO of Flextronics and founding partner at Riverwood Capital and Nicolas Braithwaite, founding partner at Riverwood Capital and former Flextronics CTO.

Media Contact:
Swati Nathani
swati@teampumpkin.com
+91-9833195584
Team Pumpkin

 

NewswireList

 

CIMGlobal Opens New Office in the Iconic ADNEC Tower, Abu Dhabi

GURGAON, India and DUBAI, UAE, December 1, 2015
CIMGlobal, the leading industry catalyst & a key driver of innovation in the global meetings, events, association and congress industries, today announced the opening of their new office at the landmark building of Abu Dhabi National Exhibition Cente...
A star-studded jury comprising of child actors Sparsh Khanchandani, Saloni Daini, Rakshit and Lakshya Wahi among others judged over 45 films from seven countries at the grand finale of the 9th International CHINH India Kids Film Festival (CIKFF) toda...
- To Leverage the IvyCamp Platform for Mentorship and Funding Ventures From Western Region- Goal of Joint Workshops for Over 2000 Startups From Mumbai in 2016- Showcasing Startups to Potential Investors for Seed, Angel or VC Stage- Give Access to Men...
The Exponext Event to Host National and International Pharmaceutical Giants in Mysuru Marking the beginning of the year, the city of Mysuru will welcome more than 10,000 national and international delegates to the 67th Indian Pharmaceutical Congress ...
KhelPlayRummy today announced probably the best rummy offer ever 'December Delight', which offers cashbacks and prizes worth Rs. 25 Lakhs in just 7 days.     (Logo: http://photos.prnewswire.com/prnh/20130923/10075915 )December Delight begins on 7th D...
The S P Jain Institute of Management & Research (SPJIMR) has launched a full-fledged Counselling and Development Centre that will be open to participants of the institute's various management programmes. The Centre is the latest in a series of new in...
South Asia's Largest Industry Expo; over 97 countries, 1100 exhibitors and 32000 Delegates Newly launched India Pharma Report validates India as 'Pharmacy of the world'Winners of India Pharma Awards felicitatedIndia edition of Pre-Connect Congress hi...
Adda52.com, India's largest poker site, launched the Crazy Pineapple variant of poker for lakhs of poker enthusiasts in the country. Adda52 is the first poker site to offer this exciting game in India. After operating Texas Holdem, Pot Limit Omaha an...
AGC Networks Limited (BSE: 500463 and NSE: AGCNET), a Global Solution Integrator, has been awarded the prestigious 'Unified Communications Partner of the Year' award at the Avaya Partner Forum awards ceremony held in Dubai on 24th November 15. This r...

Telling the G20 Story to the World: Turkey's Communication Strategy

ISTANBUL and ANTALYA, Turkey, December 2, 2015
During its 2015 G20 Presidency Turkey conducted a comprehensive communication programme to tell its unique story to the world.     (Logo: http://photos.prnewswire.com/prnh/20151201/292393LOGO )     (Photo: http://photos.prnewswire.com/prnh/20151201/2...
12345678910...