ByteIQ: Service Vs. Product or Survival Vs. Democratization?

In May 2019, ByteIQ Analytics was formed in India, with the idea to revolutionize finance through the potential of data. In the beginning, ByteIQ offered data science and analytics capabilities in the form of various services. But the founders aspired to make ByteIQ a product company so they created their first product, BankStorii, in December 2021. BankStorii was designed to aid financial customers to select the best banking products. ByteIQ’s chief executive officer had two choices in selecting a suitable business model for BankStorii: make BankStorii available to the country's masses free of charge through a website platform or make BankStorii a proprietary software and license it to banks.

This case can be taught in the middle section of courses on information systems, business analytics, or entrepreneurship. It is suitable for students in their junior or senior years of an undergraduate business administration or management program, and students in the first year of a postgraduate or master’s program. The case provides an opportunity to explore different business models. It also opens the doors toward analytics and data science, which have become a key ingredient in offering information systems and business education in general. After completion of this case, students will be able to:<ul><li>classify concepts of data analytics, data science, machine learning, deep learning, and artificial intelligence;</li><li>understand stages of developing analytics-based data products;</li><li>execute the concepts of democratization of technology, finance, and artificial intelligence;</li><li>evaluate proprietary software licensing and platform business models for software companies; and</li><li>develop possible business models for a new entrepreneurial venture.</li></ul>

• Data Analytics
• Data Product
• Machine Learning
• Artificial Intelligence
• Business Model
• Democratization
• FinTech
• Start-up