First of all, how are you and your family doing in these COVID-19 times?
Ramesh Panuganty: I feel grateful that my family and that of my team members are doing well. It is always good to be close to your family, especially in these unprecedented times. During the past few months, we have learned to balance our work and personal lives.
Tell us about you, your career, how you founded MachEye
Ramesh Panuganty: I’m a serial entrepreneur who loves solving problems with technology. I’ve successfully developed solutions for enterprise problems by building technology from the ground up, especially natural language technology. In my career as the CEO of four different companies, I’ve seen how difficult it is for people to understand data and extract business intelligence. That’s why I wanted to create an analytics platform that’s oriented towards business users and is built with AI as an architecture, rather than just as mere a feature.
How does MachEye innovate?
Ramesh Panuganty: MachEye gives analytics a play button! We make data as consumable as YouTube, coupled with a Google-like search interface. You can ask questions in a simple language like you would ask your analyst and get an audio-visual of how the analyst would narrate if you both were in a conference room. For instance, you can ask, “how were the sales this quarter?” You would be presented with a 2-minute audio-visual that instantly gets generated just for you.
For every search result, we generate interactive audio-visuals that tell a story about your data. The story not only covers the answer to your question but also provides useful insights such as trends, anomalies, or segments extracted from your data. Over time, our AI learns from your search behavior and interests and starts delivering insights and alerts automatically in a click-less way, without you searching for them.
By bridging the gap between data and action, we enable business users to take fast and data-driven decisions. This way, data analysts are also freed from mundane reporting and can focus on more complex tasks.
How has the coronavirus pandemic affected your business, and how are you coping?
Ramesh Panuganty: The pandemic has definitely been a learning experience. When lockdown started, we transitioned to work-from-home for all our employees and did our best to stay connected through virtual meetings. We have also been supporting our customers remotely to ensure that business continues as usual. We feel blessed to be safe and healthy with everything going on in the world right now.
We wanted to give back to the community and support healthcare workers who have been working tirelessly in these tough times. We launched the “MachEye Cares” program as a COVID-19 response through which hospitals and public health organizations can use our analytics platform free of charge for a whole year. We hope that the world recovers from this pandemic soon.
Did you have to make difficult choices, and what are the lessons learned?
Ramesh Panuganty: COVID-19 has shown us how important it is to be flexible and find growth opportunities in the middle of chaos. Over the past 6 months, we’ve had to change our Go To Market strategy, focused on a cloud offering, and hired a new sales director to handle increased interest.
Above all, the top priority is to be sensitive to all of our employees’ and customers’ needs and make it through the crisis together.
How do you deal with stress and anxiety? How do you project yourself and MachEye in the future?
Ramesh Panuganty: This pandemic has taught us all the importance of empathy and compassion towards others. Staying calm, being open to alternatives, and accepting the situation helps to alleviate anxiety. The belief that this tough period shall pass soon keeps me going.
With teams working remotely, it is important to empower people with capabilities to manage their work independently. That’s where our solution plays a key role in minimizing dependency and delay and ensures that users have access to data insights at their fingertips.
Organizations are now looking at ways to save costs, increase efficiency, and get more ROI from their existing IT infrastructure. We recognized this need and built MachEye as a cloud-native platform. It can seamlessly integrate with existing data sources, with no data duplication or additional overheads. We want to help organizations and individuals in doing more with limited resources during these testing times.
Who are your competitors? And how do you plan to stay in the game?
Ramesh Panuganty: Because MachEye’s platform is horizontal and applies to every job function and industry, we compete with all of the major analytics solutions out there. However, no vendor offers a complete solution as we do with natural search, integrating AI in the search path, and generating on-the-fly audio-visuals to present the findings in a user-friendly platform. Other tools usually use bits and pieces of augmented analytics technology, without integrating them into insight discovery.
Our innovative solution is already getting noticed in the industry. Gartner recognized us as the Cool Vendors for 2020. We are also proud to be part of the 2020 Gartner Hype Cycle for Analytics and Business Intelligence, Consumer Engagement with Healthcare and Wellness, and Customer Experience Analytics.
Your final thoughts?
Ramesh Panuganty: We aim to simplify analytics and make data accessible to everyone. When we started developing this solution, we thought why analytics is perceived as complex, why can’t it be simple and fun. Imagine talking to your data as you talk to your teams, watching insights as audio-visuals instead of reading lengthy reports, and getting updates on anomalies or trends as soon as they are spotted in your data just like you get daily news headlines.
With MachEye, you don’t have to imagine; you can actually experience all of this. We want to build confidence in users and help them adopt analytics to solve their problems and work efficiently.