Mind in Motion to study buying habits
G. BALACHANDAR 11/12/2014
Big Data analysis has made an entry into the two-wheeler business with the launch of a portal - choosemybike.in - and a data analytics firm by an industry veteran with a team of young professionals. The man behind these ventures is R.L. Ravichandran, who has held top positions in TVS Motor, Bajaj Auto and Royal Enfield. The data analytics firm - Mind in Motion - has developed a statistical model and an algorithm to capture the relationship between online search trends and actual market trends. The portal, choosemybike.in, seeks to help prospective two-wheeler buyers to research online for their vehicle purchase. The team says it has built capabilities to extract buyer behaviours and predict market trends using the data generated by the portal. "The kind of data generated by the users during the search on our portal led us to venture into consumer intelligence in the big data space. Over the past two years, Mind in Motion has been in the process of validating their results by comparing with actual market data," said R L Ravichandran, Chairman and Chief Mentor of CMB Portalogic Solutions, which owns the portal and the data firm. There were some variations in the beginning. But after improvements in the methods, they reported to have arrived at reasonably close correlation trends and clearly tell brands about their positions and sales trends in the market. "Digital domain is an important thing now as everyone builds portals. But interpreting consumer behaviour will be the next big discovery that is going to happen in our country," said Mr Ravichandran, who is now on the board of Eicher Motors. The portal choosemybike.in is neither an e-commerce nor a vehicle rating one. It just seeks to provide accurate actionable information on two-wheelers. "We are not going to claim Number One or top position in terms of traffic, but will position our portal as an accurate and unbiased one for two-wheeler information," said I K Rohit, CEO and Managing Director, CMB Portalogic Solutions, which has got angel funding from three HNIs (High Networth Individuals).