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Data is growing exponentially and is integral to the operation and success of many industries around the world. Data allows organizations to establish baselines and benchmarks and set strategic goals. Additionally, data allows leaders to uncover meaningful patterns and make more informed decisions. With this in mind, Shub Bhowmick, Shashank Dubey and Sumit Mehra founded Tredence in 2013. The company was created out of the realization that Fortune 500 companies were examining their business models to harness the value of data, create non-linear revenue growth. and compete with digital-focused organizations.
“The last mile problem in AI refers to the gap between determining information and unlocking the value of that information. The last mile is a critical step in operationalizing AI models and can be hard to do right,” said Shub Bhowmick, co-founder and CEO, Tredance.
Analytics was a central part of the multi-layered transformation puzzle that companies were trying to solve. Transformation required partners who could extend data initiatives within existing and new initiatives and craft a value system aligned with business objectives and goals. The founders saw an opportunity to fill the relevant need and launched Tredence. The company offers solutions in artificial intelligence consulting, data science, data engineering, sustainability, supply chain and customer experience.
The company believes that the AI and data science revolution must happen at the local level, helping frontline decision-makers make data-informed decisions to gain efficiency. Data science solutions enable shop floor managers to maximize capacity utilization and production, help store managers implement optimal inventory management, enable supply chain managers to forecast accurately asks and gives health workers prescriptive recommendations for patients.
“In our quest to improve the value and impact of our offerings for customers, we have placed innovation at the heart of all our solutions, making it the backbone of our business model. Tredence invests 10 % of its revenue in R&D AI solutions are adopted by leading companies in retail, CPG, telecommunications and manufacturing, solving some relevant issues in supply chain, personalization , marketing, revenue growth management and trade promotions,” said Sumit Mehra, co-founder and CTO, Tredence.
“AI is an indispensable value stream that enables companies to monetize data and create new revenue channels. By facilitating and accelerating data transformations, we want our customers to traverse and conquer the full potential of the “AI and its ability to bridge functional silos within enterprises. The journey to extract value from data is not a sprint but a marathon. The only way to thrive is to have a long-term mindset. term, to invest in your capabilities and people and let the power of value realization take over,” said Shashank Dubey, co-founder and CRO, Tredence.
In the past, Tredence’s business consisted primarily of analytical services. Over the past two or three years, the focus has shifted to AI products and data science solutions. The company has experienced a compound annual growth rate of 50% since its inception. In 2021 Tredence grew by 65% and in 2022 the company expects 90-100% growth.
In a bid to boost enterprise adoption of AI, Tredence is doubling down on ATOM.AI, an intelligently designed AI platform that guides enterprises from design to experience to value. The company is a strong supporter of the AI Exchange model which aims to deliver shared values and results in close collaboration with customers, partners, researchers and universities.
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