 "Companies such as Mu Sigma can only be built in India: Dhiraj Rajaram")
Dhiraj Rajaram, founder and chief executive of Mu Sigma, India's largest decision sciences and analytics services provider, doesn't portray himself as a conventional chief executive. Amid serious discussions, the former strategy consultant at Booz Allen Hamilton often cracks jokes. In a chat with Bibhu Ranjan Mishra, he talks about the analytics industry and its future course. Edited excerpts:
A lot is being spoken about big data and analytics. What has changed?
If you look at the last 100 years, we have moved from making big machines to developing mainframes, software operating system, databases, internet, search, social connectivity, etc. So, the next generation is not just about moving data, but also moving ideas, information and insights. That would require the ability to bring multiple disciplines together. That's why the whole area of big data, analytics and decision sciences is more important today.
Why is this being talked about so much?
As far as big data is concerned, do you think India has missed the bus?
No. In fact, we are ahead of the bus.
Do you think India would be able to replicate its performance in the information technology (IT)/business process outsourcing (BPO) services space in the 90s in the analytics space?
The IT/BPO space is different from analytics. This is because in the case of IT/BPO, one was doing things already done in the West. In analytics, you are doing things the West isn't able to. It is reverse globalisation.
Were you focused on analytics from the beginning?
We have been a decision science company from day one. Mu Sigma's business plan was written about 3,000 years ago, when we (Indians) decided to be good at mathematics. We are merely executing it today. For Mu Sigma, India wasn't an afterthought; it was forethought. In fact, companies such as Mu Sigma can only be built with an interdisciplinary experience of mathematics, business and technology. Only India can provide that kind of scale and capacity.
To boost growth, you raised $108 million from private equity funds such as General Atlantic about a year ago. What are the areas you are strengthening?
We are putting a lot of effort in innovation. We are scaling up our lab and the product group, which require a lot of money and effort. About 120 people are working at the product group, whose mandate is to build a lot of assets. What we are building today is a combination of man and machine.
What growth are you looking at?
Last year, we grew six to nine per cent a month; we nearly doubled our revenues. This year, too, we are seeing similar growth. We are hiring a lot. In a single year, we would add at least 1,000 people to our headcount of about 2,300.
Have you crossed the $100-million mark?
I wouldn't comment on that. However, I can tell you we are growing---growing at a faster rate. We work with over 100 Fortune 500 companies across 10 industry verticals. We work with the world's largest retailer, the largest software company and the largest publicly-traded insurance and pharmaceuticals companies. We also work with the largest airline in the world.
Are you looking at acquisition opportunities?
I think there are very interesting companies in this space. We will go for an acquisition at the right time.
A lot is being spoken about big data and analytics. What has changed?
If you look at the last 100 years, we have moved from making big machines to developing mainframes, software operating system, databases, internet, search, social connectivity, etc. So, the next generation is not just about moving data, but also moving ideas, information and insights. That would require the ability to bring multiple disciplines together. That's why the whole area of big data, analytics and decision sciences is more important today.
Why is this being talked about so much?
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Now, this issue is being focused on because it is perhaps time for a perfect storm. Incrementally, lots of small things have changed in many different directions, and all of these have come together now.
As far as big data is concerned, do you think India has missed the bus?
No. In fact, we are ahead of the bus.
Do you think India would be able to replicate its performance in the information technology (IT)/business process outsourcing (BPO) services space in the 90s in the analytics space?
The IT/BPO space is different from analytics. This is because in the case of IT/BPO, one was doing things already done in the West. In analytics, you are doing things the West isn't able to. It is reverse globalisation.
Were you focused on analytics from the beginning?
We have been a decision science company from day one. Mu Sigma's business plan was written about 3,000 years ago, when we (Indians) decided to be good at mathematics. We are merely executing it today. For Mu Sigma, India wasn't an afterthought; it was forethought. In fact, companies such as Mu Sigma can only be built with an interdisciplinary experience of mathematics, business and technology. Only India can provide that kind of scale and capacity.
To boost growth, you raised $108 million from private equity funds such as General Atlantic about a year ago. What are the areas you are strengthening?
We are putting a lot of effort in innovation. We are scaling up our lab and the product group, which require a lot of money and effort. About 120 people are working at the product group, whose mandate is to build a lot of assets. What we are building today is a combination of man and machine.
What growth are you looking at?
Last year, we grew six to nine per cent a month; we nearly doubled our revenues. This year, too, we are seeing similar growth. We are hiring a lot. In a single year, we would add at least 1,000 people to our headcount of about 2,300.
Have you crossed the $100-million mark?
I wouldn't comment on that. However, I can tell you we are growing---growing at a faster rate. We work with over 100 Fortune 500 companies across 10 industry verticals. We work with the world's largest retailer, the largest software company and the largest publicly-traded insurance and pharmaceuticals companies. We also work with the largest airline in the world.
Are you looking at acquisition opportunities?
I think there are very interesting companies in this space. We will go for an acquisition at the right time.