EXL: Unveiling the True Meaning of Big Data

Rohit Kapoor, Vice Chairman & CEO
“Everyone is moving in the direction of using Big Data to get to meaningful outcomes,” observes Vivek Jetley, Senior Vice President, Co-Head of EXL Analytics and Head of Corporate Strategy.“It is not about having data for data’s sake,” he remarks, noting that there are three important components that need to be addressed for companies to make the best use of big data in their business operations. First, is to ensure that organizations leverage the big data that resides within the company and start using it.The second part is using external data and to combine that with internal data. Alongside, organizations must use the data to generate some positive business outcomes. “Today, it’s about using these three components in combination,” Jetley adds.

New York based EXL Analytics addresses these challenges upfront. At first they created tools and techniques that allow clients to utilize data from non-traditional data sources. Then they linked up vast variety of data providers like consumer bureaus and others to create linkages between what is in the consumer world and the digital world. The idea is to implement the already existing analytics of an organization into its day-to-day decision making. “EXL is organizationally built up to help companies integrate analytics and business operations,” expounds Jetley. “Our ability to think of data science not as a horizontal but as a vertical makes us stand above our competitors.”

The company offers MicroAnalytix Automated Modeling Solution, a proprietary decision analytics methodology and platform that simplifies and automates clients’ abilities to prepare data, create, and reduce variables. MicroAnalytix has advanced in-built procedures to compare with past data set to make sure the input is accurate. Secondly, it provides business intelligence and advanced analytics insights for clients.Thirdly, it provides domain and function-specific benchmarking—like quality check and validation is conducted by the tool, leaving more time for analysts and supervisors to drive better business outcomes.
EXL aims to merge statistical data mining with a consultative approach and modeling tools. Shedding more light on the company’s products and services Jetley recalls a case in which EXL assisted one of the large U.S. based Property and Casualty (P&C) Insurer with its claims fraud detection. EXL’s data scientists developed a data management solution—a fraud data mart, collating claims and staffing data both internal and external into a database. EXL leveraged Social Media Analysis, Text Mining and Network/ Link Analysis to detect fraudulent applicants. The P&C Insurer witnessed an average increase in detection of Auto & Workers Compensation Fraud by 15 percent. The client’s annual cumulative savings were also in the range of $20-30 million.


EXL is organizationally built up to help companies integrate analytics and business operations


The company boasts to cover a versatile range of functions and industries. As the demand for analytics is exploding, Jetley points that, “Industrializing the technological products is the need of the hour.” In this light, EXL is currently engaged in developing products in emerging areas like Internet of Things (IoT), Machine Intelligence, Pattern identification, Robotics and Automation. Adding to these ventures, the company’s recent acquisition RPM Direct productized marketing analytics for better accuracy. As stated by Jetley, “Analytics now is no longer a fashion trend but critical for success.” Having set foot in potential markets like South Africa and Latin America, EXL is anticipating a sizeable growth in these geographies soon.

Company
EXL

Headquarters
New York, NY

Management
Rohit Kapoor, Vice Chairman & CEO

Description
Provides operations management, decision analytics, and technology platforms to organizations in insurance, healthcare,banking and financial services, utilities, travel, and transportation, among others.