Listen to this articleDecisionHawk is one of the first decision analytics platforms that solves businesses growth challenges. DecisionHawk’s proprietary intelligent decision engine fuses machine learning, big data and predictive analytics to deliver optimal choices, recommendations, insights and much more. To find out more about their platform we sat down with Dave Wolcott and Navin Maganti, Co-founders of DecisionHawk:
Q: What was the inspiration behind building DecisionHawk?
A: The last 10 years have seen us go from an idea, to an opportunity, to running a successful business. Along the way, we have faced many challenging decisions – What is the right capital for our business? How do we scale the team and capabilities? When do you bring on a CFO? How do you best allocate the capital raised? Should you insource or outsource payroll? and others? In addition, we have advised many entreprenuers in multiple industries and realized that growing businesses face the same challenges.
Typical approaches that we and other growing businesses take to addressing these challenges are google searches, reading articles/blogs/books, experience, listening and learning from experts to name a few. There are many shortcomings with all of these approaches including:
• Lack of context and bias,
• Little to no data/insights to make the right choices,
• and of course the lack of time and resources a business needs to research, understand, and apply.
So we set out on a yearlong journey to empower other business owners and decision makers to make these critical decisions, reduce risk, and improve business success. DecisionHawk is a culmination of these experiences for other entrepreneurs and business owners to make the right financial and operational decisions for their businesses through data insights, education, solution provider matching and engagement.
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Q: Who are the primary clients of DecisionHawk and what are some of the key challenges you are helping them solve?
A: DecisionHawk clients consist of entrepreneurs and small business owners from 2-100 employees that are scaling their businesses. The problems we solve are making critical decisions in the areas of finance and insurance such as raising capital for the business, finding the right financial resources and services for the business, insuring the business adequately to buying and leasing assets. We are in the midst of working on developing other functional business areas including: Human Resources (HR), Legal, Sales & Marketing, and Strategy.
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Q: What is unique about DecisionHawk and how does it stand out from competition?
A: The DecisionHawk platform is differentiated by being the first platform to address the entrepreneur and small business growth challenges through data analytics, education, and solution provider marketplace. It is the only platform that is focused on solving small business and entrepreneur challenges through the context of “evidence based decisions”, takes the “subjective nature” of small business and entrepreneur business challenges to “data driven decisions”. Further, it is a qualified lead generation platform for small business and entrepreneur vendors and solution providers.
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Q: Can you give us more insights into your platform?
A: DecisionHawk moves the needle from search to suggest:
• recommends the best course of action for your business need
• matches your needs with disruptive solutions in the market place
• provides the opportunity to engage solution providers
• compares similar businesses to provide insights
• Improves your skills through knowledge and analytics
Q: What can we expect from DecisionHawk in next six months?
A: Overall, DecisionHawk is focused on customer and vendor acquisition, channel alignment, white label resale and a capital raise. The product roadmap consists of additional Finance and Insurance modules to be added to the platform, a mobile IOS application, and white label implementations.
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