News

7) What is your vision for DigiMine? How it would become profitable?

The vision of digiMine is to make data warehousing, mining and business intelligence usable by business people and more affordable by businesses and organizations.  Currently, many companies are prevented from tapping into the valuable intelligence their data holds because managing and analyzing the data is too complex and expensive.  We want to resolve that by taking on the complexities of data warehousing and mining in a hosted service, and presenting the analytics to business people in a format they can understand and use.  We also package and build business applications that utilize data mining and the data from the warehouse: real-time cross-sell, up-sell, prediction, and segmentation technologies. There is a tremendous market for this type of solution, across many industries and all sizes of companies.  Our plan at digiMine has always been to be profitable by the end of 2002 and we are still on course to reach that goal. 

The solutions we offer can cost 10 to 100 times more if companies attempted to build them in-house instead of using digiMine's offering. They also would require hiring very rare talents: database developers who understand data warehousing and data mining.  Large data operations teams to manage teh ever-evolving data warehouse are hard to build and keep.  The trick is to balance growth and expansion into multiple market segments, with the need to meet profitability goals.

Of course, we all know that at the end of the day, technology and a great business model are not enough. Marketing and Sales play a huge part. Getting market mind-share and awareness is a crucial challenge. We've had an amazing and outstanding start, but we need to keep executing to meet our goals.

8) What is a recent book that you read and liked?

The Monk and the Riddle, by Randy Komisar.  It's an insider view of the world of Silicon Valley VCs.

next questions