With his then 12 years of experience in analytics business and aiming to empower the insights manager in an organisation with on-demand data, Satyakam Mohanty founded Lymbyc in 2012. It is a Bengaluru-based firm known for its capabilities in analytics and data-sciences space. He proved even if the journey of running a startup is not smooth, but it is worth taking up. “It took me five years to give the present shape to Lymbyc, but I ensured that the business was generating cash to invest in the future,” says Satyakam. As it gets acquired by Larsen & Toubro Infotech Ltd, XTechalpha caught up with Satyakam Mohanty, Founder, Lymbyc, to understand more about Lymbyc, their product Leni, and the acquisition.
Understanding the Beginnings
From being a research executive in 2001, and the VP of Genpact and scaling up their data practice by 2012, Satyakam appears to be having an intrinsic relationship with data science.
The premise of starting Lymbyc was to provide insights to businesses beyond the existing forms of business intelligence, MIS, and predictive model-based strategies. The reasoning was that while these were decision inputs, the actual decision making still needed to go through an iterative ‘deliberation’ process before a business decision was reached. Very often, this would involve answering questions like ‘why this’, ‘what if we..’, ‘what would be..’ – and because these are unscripted, unanticipated ‘in the moment’ questions, it then needs an army of analysts sifting through data to get answers, thus delaying the decision making process.In the early days, Satyakam would win consulting contracts from a mix of small and large businesses and create insights in a classic industry recognised business model. This was to create a revenue stream which then funded the R&D and product development.
The Business Model and Leni
In the data to decision value chain, the usual starting point for decision makers can be either due to KPI dashboards, MIS or strategies. Based on this data, they start dialogues with their insights team, asking questions like why my sales fell down or how this strategy would work. The challenge here is the unpredictability of this process. The question from the decision maker can require anything, be it summarization or an in-depth predictive modelling. The roadblock in front of the insights manager then becomes how do you adequately allocate your resources, breaking down data siloes, and get these answers in the time needed. This is where Lymbyc’s Leni steps in and changes the game for the insights manager. Leni is an intelligent, responsive system that can understand what is needed, and using AI and data sciences, provide the required response in its simplest form, in time. Available in both SaaS and custom microservices based forms, Leni can be deployed both on-cloud as well as on-premise. Customers pay through a license based structure coupled with optional consulting fees.
Post that, it begins to present the data as per the query. The algorithm learns from the query and presents this data to the insights manager on a daily basis. This helps the insights manager in: Creating contextual insights, constant visualisation and predicting the future course which can be shared within the organisation on real time basis.
The main trigger or what we can call a thrust to the company was received at the arrival and launch of Leni which is an industry-agnostic platform that solves business user’s need for experience, speed, and comprehension.
Hence, mimicking the human analyst. “We are helping the organizations to deploy and use analytics much faster than what has been possible so far. Since it’s very technologically intensive, it reduces the cost as well, in the process”, adds Satyakam.
Lymbyc curates embedded intelligence across all data sources and offers predictive insights driven by its adaptive ML engine. The company’s proprietary NLP based querying language allows business leaders to ask questions in plain English and receive actionable insight in real time, within seconds. Ideally, the insights value chain consists of two parts-Data to Information which is Input defined, structure driven, and focuses on speed and scale. The second one is Information to Insight that involves Inherent ambiguity, focuses on impact, and is user defined. Unlike other solutions in the market, Lymbyc solves for the first part with a stronger focus on the second value chain.
Acquisition by L&T
Valued at 38 crores, Larsen & Toubro Infotech Ltd, the IT services arm of infrastructure major Larsen & Toubro Ltd has inked a definitive agreement to acquire the artificial intelligence (AI), machine learning and advanced analytics company Lymbyc. This acquisition comes with the belief of self-service capabilities for AI and advanced analytics becoming the next wave of disruption in the marketplace.
Satyakam will be positioned as the head of applied intelligence for Mosaic and Leni at L&T.
The acquisition will complement the data engineering and discovery, governance, and self service analytics layers of LTI’s in-house Mosaic platform for data science teams, helping it improve its analytics and ‘last mile data connectivity’ for business users and CXOs. Before inking this acquisition, both the firms had also worked as strategic partners for a year.
Message to the Budding Entrepreneurs
Who could give real life lessons better than an entrepreneur who have seen a growing startup himself! When asked what is the one advice that he would like to share with those who wish to start something of their own, he said,
If you are starting off in analytics and data, ensure that your go-to-market strategy approaches direct end users. Create an ecosystem with your data partners as they are going to be your helping hand and do give importance to design thinking if you are building a product as interfaces matter hugely to end users. If you can walk on these steps, you are sure to succeed.