This afternoon at the Disrupt SF Startup Battlefield, PatternEQ launched into private beta with an aim to help software as a service (SaaS) companies attack on of their chief foes: churn.
Call it data science for the common man. PatternEQ takes in data from a startup's various sources - MixPanel, for example - weaving the information into its own algorithmic tools to help a company make actionable sense of its data. PatternEQ has built a number of algorithms that it quickly checks against a company's data. It then selects the one that is most astute, and applies it to the collected information.
The company has bigger goals for its software, but it's starting with a focus on SaaS churn. That's a reasonable selection, given that the SaaS market segment is quickly growing and has cash to spend given the current fundraising landscape.
PatternEQ is predicated on the point that hiring a data scientist for your firm is expensive and slow. If you need results on your data quickly, you can't afford to wait for a service that you might not be able to afford. PatternEQ will cost about $1,000 per month, a sum that should be in the price of companies with enough subscribers to desire a deep look into their churn.
The company went through Data Elite Ventures and is looking to raise more capital to hire additional engineers.
Founder Uzma Barlaskar told me that the product can accept any data set from a user and run its algorithms against the information. Barlaskar also indicated that the company is building a number of templates that will help the less technical user better parse their results. Those templates will be ready in the fourth quarter of this year.
In short, PatternEQ wants to become the nexus for all your company's disparate information sources, bringing them together and spitting out insights that were previously obscured from sight. If PatternEQ can pull off its vision, it will be cheap at 10 times the price.
Data science has almost joined big data and cloud in the pantheon of terms that are so overused that they lose all meaning. But in the case of PatternEQ, its premise - helping SaaS companies cut churn - is constrained enough that its effort to democratize data science is a reasonable use of the phrase.
When PatternEQ releases its templates product, we'll check back in with the company to see how quickly it is growing.
Entities 0 Name: Data Elite Ventures Count: 1 1 Name: Disrupt SF Startup Battlefield Count: 1 2 Name: Uzma Barlaskar Count: 1 3 Name: Barlaskar Count: 1 Related 0 Url: http://ift.tt/1q9IvfZ Title: How the data revolution will change the world - Forum:Blog Description: The television show Star Trek gave us much to look forward to: teleporting, food "replicators" and that other far-fetched creation - the data scientist. The show also introduced us to Data, an android who could access every piece of information ever generated, while Spock himself wasn't just a pointy-eared Vulcan, but the logic-loving prototype for a role that taps into the power of information in unprecedented ways.
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