Mumbai, Maharashtra, India
RecoSense, an innovative venture providing SaaS-enabled platform for Data Intelligence, has been felicitated with the ‘India OTT Video New Product Innovation Award’ at the 2016 Frost & Sullivan India Best Practices Awards banquet held in Mumbai on October 5, 2016. Its SaaS-enabled platform is built on complex Graph Computing, Analytics, and Machine Learning frameworks that can facilitate efficient personalization and customer engagement for rich media content.
Over-the-top (OTT) video delivery has opened up business opportunities for new entrants as well as existing media companies. Frost & Sullivan’s 2016 Over the Top (OTT) Video Market Update, India, 2016 finds that the OTT video market in India has over 20 market participants and could grow at a CAGR of 40% to 355 Million in terms of unique video viewers by 2020. As OTT video delivery becomes imperative for media companies, it is essential to understand the importance of customer engagement with insightful recommendations and content delivery. RecoSense provides a platform that uses automation and can help track user behavior across the Internet. It then interprets content recommendations suitable for a viewer and prolongs user engagement on a site with personalization. It also offers analytics with visualization and a content management system to enable OTT providers realize the efficacy of their services.
Congratulating RecoSense on winning the 2016 ‘India OTT Video New Product Innovation Award’, Ms. Vidya S. Nath, Research Director, Global Innovation Center and Digital Media Practice, Frost & Sullivan, said, “There are three inherent problems that exist for an OTT service provider — offering an attractive video library, which is easily searchable; understanding the behavior and likes of their target audience; and keeping them engaged on their site or application as long as possible. RecoSense’s service helps solve some of these challenges as it offers a customizable platform that helps in effective discovery, personalization of recommendations, and user analytics.”
Accepting the award, Mr. Amith Srinivas, CEO, RecoSense Infosolutions, said, “We, at RecoSense, are honored with this recognition from Frost & Sullivan. This award validates our emphasis on innovation as the core principle in our growth journey. RecoSense, as a young venture, will leverage this platform to pioneer data intelligent automations for digital content to reach the suitable target users. RecoSense will strengthen the indigenous Knowledge Graph IP and build expertise in the data science areas of personalization, recommendation, and analytics. We are grateful to our customers, our team for their committed efforts, and our investors for their contribution to achieve this milestone and seek continued support from the industry to reach higher goals.”
The award recipients were judged on a variety of parameters that included financial performance rate, addressed unmet needs, key achievements, implementation of best practices, customer service experience, and brand equity. It involved in-depth primary interviews of various industry participants and secondary research conducted by Frost & Sullivan. Frost & Sullivan’s Growth Innovation & Leadership Awards identify companies that exhibit exemplary growth potential, attributed to high quality solutions and superior service capabilities.
RecoSense uses artificial intelligence and machine learning to enable automatic keyword generation, effective meta tagging, and effective recommendation engine. OTT viewership in India is highly fragmented due to diverse and multiple languages and preferences. This trend has boosted the creation and aggregation of a sizable inventory of regional content. RecoSense’s clients are leading companies in the industry, both in India and abroad, providing Video Streaming networks, Digital Publisher networks, YouTube networks, Ad networks, and e-Commerce.
About RecoSense Infosolutions
RecoSense offers data intelligent platform for Metadata Generation, User Personalization, Content Recommendation, and Analytics. Given the exponential growth of digital media content across categories of Entertainment, News, Business, Sports, Music, etc., RecoSense focuses on intelligent data automation to engage users with the personalized content. RecoSense works with Online Content Platforms to help them achieve higher user engagement, watch time, and user actions resulting in better conversion to Subscriptions, Transactions, Ad Revenues, and, most importantly, retaining user loyalty.
RecoSense Infosolutions Pvt Ltd is a data science-led venture founded in September, 2014 and is based out of Bangalore, India. It has been backed by leading Angel Investors in the industry. RecoSense has achieved significant growth in market share, customer acquisition, and the volume of users to serve. It is also recognized as one of the Top 100 Asia Winners by Red Herring.
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