Kindly share your feedback on how GoodFirms has been doing so far in increasing your visibility among potential clients.
We have been trying to improve our visibility through GoodFirms since March. It's been an interesting process and so far we are noticing people from other countries entering our website. We are looking forward to more visibility through GoodFirm and to get more clients around the world.
Please introduce your company and give a brief about your role within the organization.
Indicium is a Data Science as a Service company based in Florianópolis, Brazil. Since 2017, our company helps businesses of all sizes to transform data into actionable insights and opportunities.
As Indicium's CEO, I´m responsible to ensure a high quality service and to keep moving forward by understanding the market, thus creating innovation and new services.
What is the story behind starting this company?
The company started in 2017, however, its idea emerged almost a year before that.
Most of the Indicium's co-founders are childhood friends including me, Daniel, and Vitor. In 2016, we were headed to different directions until we occasionally met during an Innovation Acceleration Program from UC Berkeley at Florianópolis. It was a fast encounter, where some business ideas came up, we even talked about starting a project together, but nothing promising.
At the time, I had recently graduated from my Masters in Project Management at the University of Southern California and was particularly interested in the rise of the "data revolution" - something that was not so trendy in Brazil yet.
With that idea in mind, I pitched Indicium's first business model to investors and soon-to-be co-founders. By then, Indicium's name did not even exist, but its value proposition was simple: using the power of data to predict businesses’ future.
Right after that, we got investments, partnered up, and started our journey. During the first few months operating, we came to understand that the Brazilian market was not ready for our proposal. Hence, we pivoted and became Indicium, data science as a service company.
What are your company’s business model – in house team or third party vendors/ outsourcing?
Our business model relies on an in house team to provide data science and big data analytics services to our clients.
How does your company differentiate itself from the competition?
Indicium not only sells solutions but also delivers customized alternatives and personalized services to suit our clients' goals and needs. We care about our clients and strive to extract the power of their data to maximize results. As a result, we provide better quality, faster deliveries, and better results.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Currently, we provide services to a big range of industries, from real state to the energy sector. Nevertheless, we have a few special products towards real estate, logistics, manufacturing, eCommerce, and the energy industry.
Considering that data science is our powerhouse, we are able to provide high-quality services for different industries and sectors. We are primarily focused on the size and data maturity of potential clients as opposed to the sector they operate.
Our long-term goal is to prove services to a broad range of industries as well as to create specialized products for certain industries.
Please share some of the services that you offer for which clients approach you the most for?
We have two lines of services:
a. Data 360º: a strategic data consulting program, divided into 4 sprints with 8 weeks of duration. Data 360º’s main goal is to support mid to big size companies in identifying their data maturity to further implement actionable data-driven strategies and optimize business results.
b. Hands-on consulting services: An end-to-end consulting that implementing a data-driven approach to organizations through:
i. BI implementation
ii. Big Data consulting
iii. Data Warehouse setup
iv. Forecasting modeling
v. What-ifs Data apps
What is your customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?
Our customer satisfaction is very high, not only considering my perspective but also feedback on renowned websites like GoodFirms.
Furthermore, in order to calculate our customer's necessities, we analyze indicators such as churn rate and our upsell rate. We are proud to have low churn rates and high upsell indicators. The great majority of our clients start with a simple project; however, they comprehend the complexity and importance of data projets and keep hiring for more. For instance, we have clients that are still with us since 2017.
What kind of support system do you offer to your clients for catering to their queries and issues?
We rely on several softwares and invest in high-end training to cater to our clients’ issues. Internally, for instance, we use a few management software (Bitrix) to ensure high quality and productivity during the development process. We also use google meetings on a regular basis to communicate with our clients. In terms of the development software and tools, Indicium uses a full range of systems and processes, ranging from data collection (Fivetran, stitch) to data warehousing (AWS redshift) and data visualization (PowerBI, Tableau, Metabase…). However, considering our consultancy status, we tailor our clients software needs to their own projects. Therefore, everything depends on our client's data maturity and their structure. We usually set up the services and the systems to ensure that we achieve the requirements.
What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)
Usually, we set up an amount per hour and a number of hours per month. In this sense, we are able to be more flexible and transparent with our clients.
Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?
Yes, we have a minimum amount of hours per month and the minimum value per hour. The combination cannot be less than R$ 5.000 per month.
What is the price range (min and max) of the projects that you catered to in 2019?
We had projects form R$ 8.000 up to R$ 350.000. Usually, higher costs projects refer to longer projects (e.g. up to 12 months contracts).
Where do you see your company in the next 10 years?
We see our company with 500+ employees with offices around the world, delivering high-quality data science and analytics services.