Meet the team: Nikhit Ranjan
“The BI Manager is, or should be, the proverbial “purple person” – not business “blue” or IT “red,” but a blend of each.”
Business intelligence involves the delivery and integration of relevant and useful business information in an organization. In my role, it becomes vital to understand the investment deals, the terms of the deals, and the data pertaining to them. We utilize business intelligence to recognize key events and track business trends to respond fast to any changes. Developing a Business Intelligence (BI) solution aids in the production of reliable reports by collecting data directly from data sources that investors may utilize to speed up the decision-making process.
The objective is to eliminate the scope of error by providing precise data to the deal team so that they can make better judgments about what is going on now and in the future. With the amount of data kept by businesses increasing exponentially, it’s no surprise that finding the correct data management solution remains a top issue for businesses.
2. What attracted you to working at B Capital?
Joining B Capital is a unique opportunity to leverage my experience to support the firm’s transformation into a global technology leader. The opportunity is to build BI solutions from scratch.
B Capital has a team of platform specialists who focus on the portfolio company post-investment. I liked that this team goes all-in with their portfolio companies, helping them scale and build the business.
The core values of a company are also extremely important to me. B Capital’s culture is elegantly reflected in its core values: Honest, Open, Trustworthy, Humble, Collaborative, Bold, and Persistent.
3. What is something someone might not know about non-investing roles at a VC firm?
A venture capital firm is a partnership, so it’s less about getting a job and more about teaming together for mutual profit where portfolio companies succeed with our support and we benefit from their success where technology is advanced and limited partners see return on investment As a result, the only way to be qualified is to demonstrate that one provides and produces exceptional value.
Many venture capital returns come from backing single outlier companies that often look like the anti-pattern in their early stages. Playing a non-investment role at a VC, it becomes quite interesting to possess the domain knowledge over time and understand key points like:
- What does it take to launch a venture firm?
- What does it take to become a general partner at a venture firm?
- What are the roles and responsibilities of the people on an investment team at a venture firm?
- How do you finalize deals and onboard the portfolio companies?
- Using Business Intelligence and Analytics tools to uncover top performers is the next big thing in a VC firm. However, even if a machine learning algorithm can evaluate hundreds of data points to offer suggestions on a company’s potential, a venture capitalist’s intuition-based involvement is still required.
4. How have you seen technology innovation impact your function or field.
For me, the future of Business Intelligence is an increase in features that enable simplicity of use while still having streamlined workflows and predictive capabilities. More collaborative BI tools would be available, facilitating teamwork and simplifying and integrating data sources. Analysis and predictions would be provided by a combination of artificial intelligence and machine learning technologies.
In the foreseeable future, data is predicted to expand tenfold globally, and if the possibilities presented by this data are properly applied, they can bring an infinite number of benefits. We can make our operations more efficient, uncover new income opportunities within current business operations, improve customer service, and boost the bottom line by wrangling data and leveraging its potential. We get a substantial competitive advantage over the competitors by becoming data-driven.
To be able to drive these changes, we must continue to upgrade and educate ourselves on the technologies. Adopting a data-driven culture would include allocating all resources to incorporating BI into daily operations.
5. If you weren’t in this career, what would you be doing?
I would have pursued my dream of getting into the hospitality sector and operating a restaurant/café! Being a restaurant owner is a difficult path to choose, but successful entrepreneurs discover that their efforts are rewarded. The financial benefits, as well as the enjoyable aspects of the business, are undeniable. The most rewarding part is beginning, running, and growing a food-service business.
Connect with Nikhit on LinkedIn!