Startup-Circle: Naren Vijay, EVP - Growth, Lumenore

Lumenore is an end-to-end decision intelligence platform that drives business growth. it helps you build a single, reliable source of truth that delivers actionable business intelligence anyone in the organization can use.

Lumenore is that we offer complete one-stop solution for all data-related requirements with the preparation of Data Universe. It is an all-in-one data service through which consolidated data is taken through various processes, including data lineage, creating a lakehouse, and data engineering. It is also sealed and secured with robust IP compliance and making it ready to derive action-oriented insights.

Speaking to CIOL, Naren Vijay, EVP - Growth, Lumenore has shared his views on the the current scenario of Big Data Analytics and its future. He talked about his startup journey and also, and he speaks about the growth plans he has for Lumenore.

Tell us about Lumenore and your offerings. Tell us about the team.

Lumenore is a powerful BI platform that helps businesses turn data into actionable insights.  We use technologies like artificial intelligence, machine learning, and natural language querying to make sense of data. Lumenore also ensures seamless data integration, enables modern business storytelling, and encourage advanced insight discovery.

Through self-service analytics, conversational intelligence and predictive analytics, Lumenore accelerate data-driven decision-making skills in an organization.

Another unique feature of Lumenore is that we offer complete one-stop solution for all data-related requirements with the preparation of Data Universe. It is an all-in-one data service through which consolidated data is taken through various processes, including data lineage, creating a lakehouse, and data engineering. It is also sealed and secured with robust IP compliance and making it ready to derive action-oriented insights.

• Lumenore Connect allows you to bring data from multiple sources in a single repository.
• Lumenore Data Layer allows data engineering and data modelling to define data processes to streamline the data journey for analytics.
• Lumenore Self-Service helps business users build dashboards and reports on the no-code framework.
• Lumenore Ask Me is a conversation analytics module that allows instant analytics using natural language querying.
• Lumenore Do You Know is an augmented analytics enabled on no-code to create meaningful insights like predictions, correlations, trends, and outliers using the ML Algorithm without writing even a single line of code.

In short, we aim to increase business growth and team productivity by streamlining organizational decision making with future-ready business intelligence.

Kindly share your point of view on the current scenario of Big Data Analytics and its future.

The industry has warmed up to the basics of big data analytics and is now looking at ways to use big data analytics in various parts of the business. Several industries like banking, automotive, telecom, retail, healthcare, and e-commerce are using big data and analytics in a big way in their business operations.

As big data has proven its worth, businesses are focused on effectively utilizing data using big data on a day-to-day basis. An increasing number of practical solutions are entering the market, helping companies make data-driven decisions quickly and create a more substantial impact.

What are the key trends driving Big Data analytics/AI growth?

The increasing amount of data generated and the reduced business margins are compelling businesses to harness modern solutions like big data analytics and artificial intelligence to make the right choices. More companies will rely on these solutions to achieve data-driven decision-making and use modern solutions in long-term business strategies.

Agile BI and composed analytics with interactive dashboards will be more important in business processes in this digital era. As automation, augmented analytics, and predictive intelligence gain prominence in business, big data analytics and artificial intelligence will play a critical role in achieving a competitive edge in the market.

How is Lumenore tapping these market trends for growth?

We provide custom-made solutions to increase data-driven decision-making in the business. As we provide end-to-end data solutions, we help businesses in all stages of data management – from consolidating data to deriving actionable insights.

Our focus has been to help organizations build a data universe and ensure that the repository of data-driven insights is accessible to the decision-makers in the organization. This approach has enabled us to handhold companies on their data journey and brings a meaningful change in business processes.

What does your technology and business roadmap look like for the upcoming year? Any changes for Lumenore?

We plan to focus on building a sales team in North America and expand our presence in APAC and EMEA regions. Our approach is to create industry solutions that are product-led and targeted at the end users. We plan to continue to provide end-to-end data solutions and handhold companies in their data journey with customized solutions.

We understand the changing business requirements and plan to provide future-ready solutions like augmented and conversational analytics and build a data universe that handles end-to-end data requirements. We are also initiating Product Led approach by building more solutions for end users.

How has your revenue grown with the brand evolving during the pandemic?

The pandemic helped us realize the importance of technology, with business intelligence, automation and artificial intelligence playing an ever-important role in business. Rather than relying on data to find solutions to challenges, the companies were looking for insights on a real-time basis.

The increasing importance of data and the need to extend its accessibility in a remote working model has helped us get closer to our target customers and create an impact in a short period.

As the demand for BI increased across industries, we focused on making our product as accessible as possible and educating the customer on the most effective ways to utilize the capabilities of our solutions.

What has 2021 changed for you? How are things now?

2021 has been a great year for us. We will continue to focus on providing end-to-end data solutions for our customer and utilize every opportunity to help industries with robust BI solution in North America, EMEA and APAC.

What are your growth priorities for 2022-2023?

We plan to develop new and powerful visualizations and out-of-the-box industry solutions app marketplace to drive business growth in 2022-23.

All these additions are expected to drive business interest in the coming period. We are confident that automation and customized business intelligence will continue to gain more importance in the future. As a result, we are focused on becoming a long-term partner for our customer’s data requirements.