Impact’21 | Vas Bhandarkar, CEO of ScoreData

https://groco.com/featured-guests/impact21-vas-bhandarkar-ceo-of-scoredata/
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Transcript:

Alan Olsen: I visiting here today with Vas Bhandarkar. He’s the founder and the CEO of

Vas Bhandarkar: ScoreData Corporation

Alan Olsen: ScoreData Corporation. And ScoreData Corporation (for the listeners) does what?

Vas Bhandarkar: ScoreData Corporation builds, helps businesses build predictive models, but not but goes beyond just building the models, but helps companies monitor the models after they are running into production. And we do that by monitoring the data that went into building those models, and helping understand how the scores change as a result of the data change, and what impact that can have on the business outcomes.

Alan Olsen: So what inspired you to start the company?

Vas Bhandarkar: Well, I was fortunate to have been a founder or early employee of Remedy Corporation and Scoredata and Selectica, which were both AI companies. And in those days, 20 years, 20 plus years ago, we had AI, but we didn’t have ML. So the ma-, the models were built manually. And so I saw a need where businesses need to have a platform to build predictive models, machine learning, using the data sets that will that businesses use to guide their AI. And that was the inspiration. But now what we realized is it’s not enough to just have the models in production, it’s you also need to monitor them. So for example, companies like DoorDash, which deliver food to, to their customers, if if they’re going to arrive at a certain time, and the traffic patterns change, we can monitor the traffic power pattern changes and and inform doordash that they need to readjust their models. Same with a Citibank. We’re just collecting money from loan portfolio companies, we can predict which company customers, we can they have models that predict which customers are likely to pay. But if interest rates change, or market conditions change, those, the ability for those customers to to pay will change. And so we help Citibank, rebuild the models, and so on. So there’s a number of different use cases that we’ve, we’ve experimented with and insurance and in healthcare, and in the refining, industry and manufacturing.

Alan Olsen: At a state of the world right now with the rapid change and COVID. And everything going on. How is your company fared?

Vas Bhandarkar:Well, it’s been difficult last 18 months, for a number of reasons. But I think we are coming out of it. We just signed a a very large contract just this morning, a few hours before this conference began. So things are beginning to look up. I think the double vaccinations have helped. And there’s a lot of interest in our drift monitoring tools. We call them intelligent Model Management as a service imass. And there’s a lot of demand for imass now.

Alan Olsen:  When you’re looking at that, the into the future, what’s ultimate goal for your company? How big you want to be?

Vas Bhandarkar:I was fortunate to be part of two companies that went public after founding. But it’s important for entrepreneurs not to have unrealistic goals. For now I just want to get to profitability, and then we’ll decide after that.

Alan Olsen: So are you a seed stage still? Are you serious?

Vas Bhandarkar We’re a series A company

Alan Olsen: Series A

Vas Bhandarkar:Series A

Alan Olsen: And, how many employees are with the company right now?

Vas Bhandarkar: We have eight full time employees and a lot of contractors,

Alan Olsen: Okay, so Vas if a person wants to get more information on your company and becoming a client. How are they go ahead and do that?

Vas Bhandarkar: Well, you can go to our website, www.scoredata.com. We have two products listed there Score Fast, which is a Model Management Framework, which any company can can acquire and, and install and help build their AI models. Or you can go to our website and get imass get signed up and they can start downloading the the tool and start monitoring the data.

Alan Olsen: Vas, I appreciate you being on today’s show.

Vas Bhandarkar: Thank you very much.

 

 

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