Bharat Phadke: Driving Enterprise Growth and Success with Innovative Data Monetization Frameworkby Analytics Insight December 23, 2020
Edgematics is a niche, all-in-data company that helps organizations monetize their data for internal and external stakeholders. Led by a leadership team with a cumulative experience of over 100 years in data analytics, data management, and technology integration projects, Edgematics executes data monetization initiatives in a most effective and value-driven approach. The company’s consulting services, technology partnerships, and unique IP frameworks and products are designed to deliver consistent value and quick wins to clients along their data monetization journey. Thus, clients can achieve business goals in time while delivering a greater customer experience.
Edgematics’ unique offering is its IP frameworks for data integration, master data management, and Advance analytics. Companies accelerate project execution and improve time to market using these frameworks. Buoyed by the tremendous success of its frameworks, the company has developed a proprietary ‘Analytics as a Service’ platform- PurpleCube. PurpleCube is secure, scalable, cost-effective with built-in industry-specific algorithms to help clients focus on their customer-centric use cases. The cloud-based platform utilizes machine learning to allow users to search billions of rows with a Google-like user experience for in-depth insights from their data. Purple Cube is aimed to make the data monetization journey for organizations more simplified and significantly more cost-effective.
A Pragmatic Leader
Bharat Phadke is the CEO of Edgematics. He believes in creating Edgematic’s growth roadmap, which is to built ground-up, giving a great platform for the entire team to engage collaboratively, demonstrate core expertise, and find a leader within.
Driven by madness and passion for creating possibilities, growth, and belonging within organizations, Bharat envisages company’s growth in next three years will come by focusing on three main aspects:- Acceleration of Revenue, Building A-Class team, and being Consistent in demonstrating the core values of Customer Centricity, Excellence, and creating Growth -Environment.
He thinks that by coming out of unprecedented and scary 2020, not just as a survivor but as a winner, while operationalizing offices in the UK, Germany, and India, and launching PurpleCube, an Analytics-as-a-Service Platform gave Edgematics further confidence in its direction and plans.
Bharat states that Edgematics is blessed to have some amazing talent within the company. He opines that the key is to have an avenue for the employees to grow along with the company as it grows. Edgematics have induced the learning mindset within the organization, which is complemented by its ongoing technical training, leadership programs, and workshops.
Achieving Balance in Business and Success
Bharat says that out of all the lessons he learned, only one lesson has stuck with him and has always helped him in his pursuit of creating growth. It is achieving the balance between the ability to rise above the current state of business, allowing oneself to imagine unimaginable success, and the ability to have a very clinical approach towards the execution of short-term goals and milestones.
Facing Challenges for Constructive Growth
Bharat says that when a startup is on a growth path, it faces what’s called the pain of growth. Edgematics is no exception to that. He thinks that the sudden ramp-up of the teams, infrastructure, additional increased investments in innovation and development certainly puts a strain on the cash flow.
Bharat observes that the exponential increase of prospects’ interactions and onboarding of new clients certainly pushes the bandwidth of the teams. As the new and existing teams blend in, it can sometimes put effective communication to the test.
Bharat opines that it’s all part of the game and the best way to minimize any negative impact of these challenges is to institutionalize the growth mindset within the organization; that way everyone has a sense of purpose and the motivation to use it as an anchor.
Innovative Solutions Powered by Data
Bharat states that the company’s latest product offering, the PurpleCube, is a perfect example of what Edgematics call an innovation with purpose. He views the reason for the early success of PurpleCube is because of the company’s 100+ years of experience in the field of data and core focus on data monetization. Bharat said Edgematics precisely knew what problems the company is trying to solve for the customers and at what price point the product would give the optimized ROI for the clients.
Bringing Balance Between New Edge Technologies and Usability
Bharat remarks that presently, humans are living in the most technologically advanced world, and the world is getting better at it every day. He views this advancement is changing human life from before. Bharat says that these are the exciting times to innovate lives, businesses, governments, and countries. With these possibilities comes great responsibility for those who are leading the way. He states, “In my view, leaders should bring a pragmatic balance in the adoption of new edge technologies and balance it in a way that adoption of the technology has usability; it’s commercially viable and, in a broader sense, socially uplifting. ”
Encompassing Transformational Leaders’ Attributes
Bharat believes that everyone is a leader in some way. “I think it all finally comes down to one thing: how humble, open, and trusting you allow yourself to be, so that people around you learn to find the leader within and lead the way”, he mentions.
Towards a Promising Future Ahead
The role of data in making individuals, organizations, and governments more customer-centric, operationally agile, and more secure will continue. Bharat observes that the data-centric solutions will become more cost-effective and easy to use, increasing the adoption rate within the SMB segment. In turn, that will bring out benefits of such solutions at the scale which Bharat feels is something much needed. He remarks that in any given country’s economy, more than 70% of organizations fit within the SMB segment.
Valuable Advice to Emerging Leaders
On advicing to budding leaders, Bharat says, “Fasten your seatbelts. You are up for the ride of your life! If you own a business, run a region for a company or you are a one-man army, what it requires is an entrepreneur’s wild spirit and the stamina to play the long game. Along with that, make it a point to celebrate the smallest wins as they fuel confidence and conviction.”