1. What problem are you solving?
Using AI/Big Data, we provide restaurants with accurate demand forecasts to innovate, increase efficiency, and facilitate effective decision-making.
2. What drives you?
Combining our diverse abilities and backgrounds, we are jointly passionate about the development of new technological services that address current challenges, and the improvement of the hospitality sector. Our mission is to provide accurate forecasts as a service that addresses the uncertainty of business owners with accurate data of their business, this can be used as a tool to optimize the efficiency of their operations. The hospitality industry is a forgotten industry that is in need for innovations to address modern-day challenges. Our intention is to make business owners conscientious of their operations and innovation in the hospitality sector, and provide them with the tools to adapt effectively to new challenges.
3. What support did you get from Mercator Launch?
With the aid of Mercator Launch we were able to discern what to focus on first, so that we could develop a well-organized foundation for our business. Additionally, we were able to develop a solid business with the multiple specializations and experience of the mentors of Mercator Launch. The business plan is crucial for the expansion and exploitation of the business model since we aim for investment.
4. What are the future plans for Data Origins?
In the next 3 years, we aim to acquire around 500 customers, and deliver a forecast based on their specific restaurant data with an accuracy of 80% or above. We expect to establish strategic partnerships with POS system providers, which will extend our customer reach, and compatibility of data processing. This should increase our customer acquisition rate substantially.
5. What do you need to make this happen?
We have three main focuses to make this happen: the processing of data in an automated manner, to enable us to scale and acquire thousands of customers; increasing the accuracy of the forecast; and provide an easily interpretable and traversable User Interphase (UI) for our clients.
6. What tip would you offer other entrepreneurs?
Newly founded businesses have three main success factors, problem-fit solution, timing (in terms of environmental movement/perception), and a solid and complementary core team. These factors, when properly aligned, can strongly boost your success. However, the crucial ingredient is strongly believing in your business and having the unbreakable desire to succeed, since you are going to often experience ups and downs. The satisfaction and gratification that you receive is unmeasurable upon success.