In today’s world, most of the businesses that make a mark are the ones which are ruthless with their competitors in product development, pricing strategies, marketing techniques and all other areas of importance. A key tool which can give them this advantage is research; Data-driven, objective oriented, all-encompassing comprehensive research. Not only does this allow them to beat their competitors, it at times gives them a chance to compete with themselves. One startup that is constantly working at bridging this gap between the companies and market is Market Data Forecast.
Founded in the year 2016 and based out of Hyderabad, touted to be the future Silicon Valley of India, Market Data Forecast has a global reach in the areas of market research, business intelligence and consulting across various business domains catering the needs of both individual and corporate clients. Some of the key business areas that they handle include business process improvement, assisting in developing an appropriate strategy and decision-making, providing consultancy based on extensive market research.
The prime area of their focus is evolving their client’s business by reducing cost by leveraging technology to improve their internal performance using statistical applications of market research. In addition to this, their process includes a review of the huge amount of complex data and ensure that their clients get the final product based on reviews and analysis by industry experts, thus providing them with a flawless service. In short, they are a one-stop solution in the field of business intelligence and market research.
Today, with 1500+ research reports across multiple domains, they offer syndicated and customized research services. Some of their clientele includes world renowned consultancies like PWC, McKinsey, ZS Associates, Booz Allen Hamilton etc. while they are also associated with multi-billion dollars global giants like Coloplast, Merck, Bayer, Syngenta and many more. But, according to them that things that they cherish even more are helping small-scale individuals. Getting positive feedback from a student in Berlin, Germany doing his masters in F&B management or a noble researcher with PhD in Pharmacology whose aim is to eradicate all animal diseases from Africa, and many other individuals who are helped in their own ways with MDF’s customized research services are the ones that truly satisfy them.
One might think that to run a startup of such complexity, scale and logistics you’d have a room full of wizened old men. However, you’re in for a surprise when you only see a handful of ragtag bunch of college graduates. At the outset, they may not look like it, but their team consists a bunch of closely knit, like-minded and goal driven individuals graduated from on India’s premier institutes, BITS Pilani. Like them, their fields of knowledge vary (B. Pharm, Civil, Mechanical), yet they share a similar thought process and are passionate about our goal to run a million dollar company before the turn of next year.
In their words, you need a solid team that has the potential to adjust to the changes and the give the startup and edge in the market. It is the team really that determines the fate of a startup, and even the best idea stands to fail in the absence of a team with the right capabilities to execute it. You definitely need someone in your startup to share your passion with, and who better than your core team to share it with. After all, they are the ones who will celebrate when you are doing well, cheer you up during the tough times and constantly work to support you and your dream startup. All startups at some point of time face unexpected setbacks and our startup is no exception, be it related to product development, delay in funding or a cash crunch, and this is when your core team will come to your rescue. You need to have a good team that stands by through the testing times and serves as an anchor for your ship to stay afloat. No idea can be greater than the team that executes it, since without the team it will remain just an idea and not take a larger shape. Therefore, a great team is truly the biggest ingredient for success. It is the pillar on which a startup is built.
When asked about their journey, the team says “One late night, perhaps early morning for the normal world; it finally dawned on us. We’re going to be thrown from the real jungle into the corporate jungle. We, fortunately, had experienced it, thanks to our previous internships but questions lingered. Unlike an internship, this time it was for the long run, and unlike previous stints, there were going to be a multitude of responsibilities on our shoulders. After discussing these fundamental questions that would eventually shape our futures, we all reached a conclusion. We all wanted to work, but we wanted to work in our own way and on our own terms. Inevitably, with the strong tradition that our college had inculcated, we had only one answer for all those questions – A startup.
In retrospect, all questions and doubts were answered. We have shown passion and dedication in serving our clients and leading the company, we have upheld the responsibilities that donned on us and we are surely in it for the long run. These are exciting times for Market Data Forecast, as we look forward to expanding our services and assist more clients in fulfilling their research objectives. “