Statcraft: Leveraging on Skill sets & Affordability to Make Analytics Accessible for Everyone
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In today’s era, where data plays a major role in terms of value creation, Data Analytics is no longer a mere field of R&D and has evolved massively while helping businesses and organizations make evidence-based strategic decisions, streamline their operations, strategize future investments, and much more. Data Analytics uses various tools and techniques to extract valuable information from data sources and makes data-driven decisions based on that. Over the years, the number of organizations opting for data analytics has significantly boomed as it gives them a competitive edge over their peers in the industry, with the global Data Analytics market currently being valued at around $30 billion and is estimated to reach around $393.35 billion by 2032 at a CAGR of 30.41 percent.A browser-based rich GUI, STATCRAFT is a leading analytics web platform built on R and Python. Created by Predictive Analytics Solutions the platform has been helping both organizations as well as educational institutions harness the power of R and Python without having to write a single line of code. The platform offers a wide range of features for its users, such as organizing data, accessing some of the most popular data analysis techniques in R and Python, viewing the results in elegantly formatted output tables, and so on.
According to Sumit Bardhan, Founder & Creator of STATCRAFT, the team decided to go for Open source as they go through constant improvements. Thanks to the active community members who consistently contribute towards enhancing the features. Even proprietary tools can be quite expensive and are not suitable for startups. While building the tool, the team decided to build one that
can run on possible minimum configuration, which, in turn, helps clients keep the Total Cost of Ownership (TCO) low in terms of hardware, infrastructure, and manpower. As part of the deliverables, the firm also shares the tool source code with clients, which helps the client organizations grow to the next level in terms of the learning curve.
"Coming to the after-sale services, apart from installation support, the STATCRAFT team believes in using both internal manpower as well as senior academicians to provide a couple of days of training to the clients to ensure smooth functioning and ease of operation of the software", shares Sumit Bardhan, Director. The team also periodically contacts its clients to inquire about further training and provides the same in case required.
Starting its journey around 12 years back, Predictive Analytics tried its hands on various products before launching STATCRAFT in 2018. As a pleasant surprise for the team, eventually, various prestigious universities, IIMs, as well as government organizations came on board as clients. The firm also has signed a MoU with a state government and is about to implement the pilot version across various departments. The firm also has tied up with multiple other state governments in India and has already conducted various skill development sessions for the district-level officers to run the tool.
Coming to the future roadmap, while STATCRAFT currently works on data, the team is currently working on introducing text analytics and image analysis. Soon, the team also has plans to implement some AI functionalities and security features as part of the solution. Apart from that, STATCRAFT is also working on making the tool more scalable to handle more users.
The philosophy of STATCRAFT is built around the goal of making analytics more accessible in terms of learning curve, TCO & budget
"Coming to the after-sale services, apart from installation support, the STATCRAFT team believes in using both internal manpower as well as senior academicians to provide a couple of days of training to the clients to ensure smooth functioning and ease of operation of the software", shares Sumit Bardhan, Director. The team also periodically contacts its clients to inquire about further training and provides the same in case required.
Starting its journey around 12 years back, Predictive Analytics tried its hands on various products before launching STATCRAFT in 2018. As a pleasant surprise for the team, eventually, various prestigious universities, IIMs, as well as government organizations came on board as clients. The firm also has signed a MoU with a state government and is about to implement the pilot version across various departments. The firm also has tied up with multiple other state governments in India and has already conducted various skill development sessions for the district-level officers to run the tool.
Coming to the future roadmap, while STATCRAFT currently works on data, the team is currently working on introducing text analytics and image analysis. Soon, the team also has plans to implement some AI functionalities and security features as part of the solution. Apart from that, STATCRAFT is also working on making the tool more scalable to handle more users.
