We live in an age where data is at the core of everything we do. It helps us understand performance, solve problems, improve processes, and comprehend consumers.
But there’s a problem: the glut of data often reads like Greek to teams. The real value of data is in the analytics, insights, recommendations, predictions and story that it can help create.
The need of the hour for organizations is a holistic and secure data management platform; that’s where Velox, our PaaS offering, comes in.
In the last few months, our team spent considerable time thinking and researching our efforts and initiatives around Velox. The name Velox is inspired from a Latin word meaning "swift" or "rapid", and we aim to help businesses make sense of, and manage, data swiftly. From a product development perspective, our founder Thiag Loganathan says, “Sit, crawl, walk, run and fly is for maturing product organizations. When innovation and excellence becomes a culture and habit, we run and fly.”
The ultimate goal is to turn data into information, and information into insight.
The more we researched data platforms, data ops, and issues in analytics and visualizations, we became increasingly confident we were headed in the right direction to solve a tough and worthy problem.
Businesses today deal with enormous volumes and types of data across business processes. Velox makes data work by allowing users to upload data, execute models to see partterns, then transform data into actionable insights and visualizations.
The Opportunity and Market Potential
Clearly, the market holds tremendous potential and opportunities, and Velox can be a game-changer in a market full of players.
Our team views Velox as a once-in-a-lifetime opportunity to make a difference, create a world-class product, and seize on an opportunity.
Why do we feel so strongly about this PaaS product?
A platform offering with the potential to strip off functional domain or vertical dependencies and variations has 10X more potential as a platform product.
The possibility of using Velox as a base for our own SaaS offerings is another validation.
Digitization and the rate at which data is being generated has created a vacuum and scope for value creation.
The world has transformed from 'data poor’ to ‘data rich' in less than a decade, and everyone from government agencies to businesses and other entities, wants to unlock the potential of this data.
The emergence of new roles, including Chief Data Officer, Data Curator, Data Evangelist etc, supports the market potential.
There isn't a simple, easy-to-use tool in the SMB market segment to quickly convert clumsy data to business ready data/analytics.
How can we amp up Velox’s velocity?
As much as we are data-driven, some key decisions are based on deep introspection and reflection. We believe if there’s one factor that will lead us to success, it is the execution and the velocity at which we build and deliver functionalities and features to our users and customers.
“Veloxians” as a team are committed to build one feature/functionality a day.
How do we define a feature?
It’s anything that makes the work of the end user, be it a data engineer, data analyst, data scientist, or business users, easier or better in a significant way. This is the key metric that we use to measure our effectiveness as a product team.
Culturally embodying the “swift/rapid principle” in our product development and release process, and building that as the unique selling point in our product is vital.
We have a great market fit, something that has been a challenge over the years. We have seen this with the development of Wellness AI, Redbird AI for Cardinality, and Porklogic.ai. This also came to light with data products we developed for big brands such as WorldPay, Zurich, McKesson, and Victoria’s Secret.
How can teamwork help us win this championship?
Behind every product stands a great team, and we strongly believe the success of Velox is directly proportional to the success of teamwork.
Rightsizing teamwork is what distinguishes Agile product teams from others and we can do this by setting simple goals that help us win.
As we go forward, we need to remember legendary NBA coach Phil Jackson’s maxim: “The strength of the team is each individual member. The strength of each member is the team.”
Together we can.