BIGDATAPUMP has been operating soon for four years. Over these years, the company has grown from “one man and a laptop” company to an organization employing 25 highly qualified data and analytics professionals and having an enthusiastic and highly loyal customer base. Until today, the company has worked in global projects while having physical presence solely in Finland. Now we are noticing, however, that the business environment is changing. It means we need to make a step change at BIGDATAPUMP.
How we got here - Market Making
Ever since the beginning, we selected a path the traditional data, analytics and BI companies did not: we started approaching our customers and prospects with “value from big data science” and “cloud first” agendas. Initially, that was a market with no or very little demand – no wonder others were not that interested! We have practically generated the whole demand funnel (awareness - interest - desire - action) from scratch in most of our customer cases. As you can imagine, it takes lots of time and sales effort!
Investments are also typically quite modest in the first phase. Especially in Finland, except for few early innovators. In other markets, the willingness and ability to invest in big data science innovation has been much higher. That is one of the reasons why we chose to be a born global company.
In spite of the necessary investments in the market-making, we have succeeded in establishing a profitable business. Of course, had the market for our services existed already, our business could have been even more profitable. Nevertheless, putting the business KPIs aside, I must say that it has been simply fun! Seeing how Martti-the-MD’s eyes are blazing when developing an analytics engine with a full scaled sensor system, piloting it and putting it in production, for instance, has inspired the whole team to test/bring their ideas for the customers’ benefit. Amazing ideas put into practice!
Where to go next?
In order to maintain and further strengthen our position in the changing market, we are focusing especially in gaining depth in the chosen segments, strengthening our international presence, and integrating analytics into everyday business management.
Gaining depth. As said, now the business environment has changed or at least is about to change. There is already demand – not initially generated by us – for our services in Finland. Customer need for data and analytics is moving away from fuzzy “what this could mean for us” to building real value adding services that have an impact on company top and bottom line. This means demand especially for the industry specific, end-to-end analytics solutions.
Going Local. In addition to Finland, there is now validated demand in the US and Western Europe for our services. 40% of our project work has been constantly international. In these markets, we don’t need to start the education process from scratch anymore. Also the velocity and pace of innovation for instance in the US and the UK are much higher than in Finland, which makes them attractive as target markets. MENA, with a market development velocity of about 1000 x Nordics, is certainly one of our focus areas. That joyride I am actually right now experiencing personally! Succeeding in international efforts means that you need to establish a local presence to the key markets.
Integrating analytics where needed the most. Data and analytics are valuable only when they are driving the decisions, either automated or human made. In order to drive decisions, analytics need to be readily available for the decision makers in the touch points they are visiting and/or using. In addition, the data need to be presented in a format that enables capturing the relevant data easily and fast. Those touch points can be mobile / tablet applications or intranet / extranet solutions.
All the above actions are in good progress already at BIGDATAPUMP. While developing the company further, we are determined to:
- have FUN
- INNOVATE even some crazy stuff
- GROW by picking the most competent and easy-going talent into our team
- stay GLOBAL
- use AGILE methodologies to maximize customer value
Wishing you a relaxing and inspiring summer period,