PAW 2019 Conference Series - Krishna Kallakuri - diwo

Welcome to the 2019 Predictive Analytics World (PAW) Conference Series. Recorded live in Las Vegas, this series is bringing interviews straight to you from exhibitors and speakers at this year’s event. In this interview, host Jamin Brazil interviews Krishna Kallakuri, Founder and CEO of diwo. Find Krishna Online: Email: [email protected] LinkedIn diwo [00:02] You’re listening to the Happy Market Research Podcast.  I’m Jamin Brazil, your host. We are live at Predictive Analytics World, Marketing Analytics World.  There’s lots of worlds. I think there’s nine. Anyway, there’s health care.   [00:14]   Quite a few. [00:15]   Yeah, quite a few.  My guest today is Krishna.  He is the CEO of diwo. Tell me a little bit about what diwo does. [00:24]   Diwo is a cognitive decision-making platform.  So, the word “cognitive” means the whole idea of how can you take the knowledge aspect of your data, teach it to a machine, and can the machine help the humans with their decision-making process, can it augment.  When the human is confused, can the machine help him or “This is a better choice for you today,” “This is how you should react in your business,” and “This is the possible outcome.” So, that is the whole motion around diwo.  That’s exactly why we call it “data in, wisdom out.” We want to help the business community with the decision-making process where we are able to reduce their cognitive load of their human brain, reduce cognitive confusion and, most importantly, augment the decision-making process.     [01:10]   That is really interesting.  I like the way that you’re framing that out:  basically, making decisions a little bit easier while still using insights as the premise.  So, when did you guys start the business?   [01:24] So, it’s about four-and-a-half years ago. [01:26] Fairly recent.  You have a favorite customer story? [01:29]    Yes, I do.  We actually started our first engagement with a fast fashion retailer.  When you look at the process that they had on how they were managing quite a few of their stores across the country, one of their biggest challenges was which product needs to be on the shelf at what location and at what time.  When you look at these simple questions, you may think the retailers have figured it out, they have so much experience in business. But the real problem that this customer was facing is they can’t put the right product at the right time at the right location because the customers are not reacting to it or either the product is not on the shelf at the right time, right?  So, when you look at the whole business model, it was directly impacting on the revenues because, if a product leaves a warehouse, it’s never coming back. Either you sell it or you promote it or you throw it. So the challenge that we were asked to solve for them is how do we allocate the right product at right location at the right time for the upcoming season. So, diwo, as a platform, it was able to really consolidate the customer behavior, the product behavior, the location behavior and, most importantly, it was able to embed the complete business process around it,