Data is one of the most valuable assets that a company can have. Without data running a company seems impossible. However, the data churned has to be concrete, understandable, and helps make executive decisions that shape the company’s future. For all this, you need data scientists and analytics experts to draw the raw data that might not be understandable to a common person and simply that to make it understandable. It’s time consuming and quite expensive as well. But if you want a cheaper alternative that does all the labor-intensive work for you without even entering a single line of code, then Graphite is here to the rescue.
Graphite is a predictive analytics and data storytelling platform that is automated from start to end. The platform bridged machine learning and AI to help churn out data understood in simple terms. The platform helps answer several business decisions such as time series forecasting, customer segmentation, lifetime value, behavior prediction, churn analysis, and much more. Furthermore, another unique part about Graphite is that users can create a data story from the raw data entered. The application helps simplify the complex data to be shared with different users to understand data from a better POV. Speaking with Hrvoje Smolic, the founder of Graphite, Venture Mirror had a wonderful time speaking about the company, and the excerpts are shared below.
What is the startup / product / venture about? Give us a brief description of it.
In the decade of AI, if you are a data-driven company, you need a data scientist team to make sense of your data.
But AI and data science projects can be notoriously slow, expensive, and difficult to manage – if you have funds for it. And the results you get, all those charts and numbers are very hard to understand.
Graphite is an automated predictive analytics platform with a data storytelling capability.
It helps experts without a data science background to bring the power of machine learning to their data analysis.
The innovative thing about Graphite is that users can create a Data Story and easily share AI results with their team, helping to understand complex insights and apply them to business decisions.
How did you come up with the idea? What motivated you to do this?
In the last couple of years our customers have started telling us that they really need a product that helps them predict different metrics and that there is no such solution in the market that is suited to the needs of SMEs like them.
They told us they just can’t figure out their churn rates, customer retention or how to predict their future product demand.
Another problem they had is that regular business people don’t understand possibly complex insights only by reading charts- they need some form of data storytelling features.
So that gave us an idea.
Who is your target market? Why do you think your product will appeal to them?
At first, we are targeting Ecommerce and retail companies.
Within those companies, we are helping business analysts engineers without a data science background to bring the power of machine learning to their data analysis. They will be able to run churn models, customer segmentation, time series forecast, future product demand – without writing a single line of code.
Who are your competitors? How are you different from them?
obviously.ai, pecan.ai, count.co.
Our competitors are oriented
– either only on traditional analytics,
– Or only on predictive analytics features
Plus, they are talking mainly to big companies.
Graphite is unique because we have created a bundle of solutions for SMEs, especially designed to meet the specific needs of this massively underserved market.
We are the only predictive software combining data storytelling and traditional analytics within a single platform.
What are the future plans with the product/startup? Any new features you are planning on?
We are in the open beta now – calling to all business analysts and experts to try our Graphite Note and give us precious feedback. New features and ML models are being developed and published weekly. We are going for a public launch in Q3 this year.