Vision Data

Description:

Problem and Trends:

Today, there are millions of products available on E-commerce sites. Amazon has 368 million products[5] but searching these products with only text search doesn’t always return the right results. When a customer of any Ecommerce site wants to buy a product like “hand bag with heart design” or “shirts with Eiffel tower design”, E-commerce sites cannot understand these search terms. It is also very hard to express these features in terms of text. Customers buy products not only for its color but also for its design. Right now there is no option for customers to search based on design features of the product.

Another problem is that developers of the mobile applications collect a lot of image content from the end user but they cannot understand the image content and cannot get any valuable information from the images. Either they have to develop their own image recognition technology or have to do the manual analysis. Both will cost a lot concerning money and timefor small and medium-sized developers.

Solution:

VisionData will solve the problems as mentioned above through its image recognition technology, which can be used by E-commerce sites to add the visual search feature to their websites and mobile application. Customers of the E-commerce site can then search products using images and they do not have to express and search products by expressing product features in the text. And also developers can directly use our API for all kinds of their image recognition tasks.

Business Model

Value proposition

E-commerce Sites: Our solution will increase sales of E-commerce sites by providing better ways for the end user to get the product they need through visual product search. Providing the goods needed by the user will prevent the user from leaving the site and also retaining the customer at the E-commerce site. It will subsequently increase the revenue of the E-commerce sites. Also, features like visual product search provide the better user experience which will attract new customers and will cause the increase in sales. E-commerce sites will also reduce human effort by automating product tagging thus saving time and reducing labor cost. It will also save the time of the end user, which they were wasting for expressing the product features in the form of text.

Developers: We will provide a cheaper solution of image recognition as application programming interface(API) for developers. It will provide accurate results by reducing the error rate and also faster results with lower latency rate, we have benchmarked our product with the products of our competitors and our API is better in various parameters like price and quality of the product.

Customer Segments

Our customer segments can perhaps be broadly segmented into E-commerce sites and developers. The reason for choosing E-commerce sites and developers as our customer segment is the strategic decision made after serious discussions. We choose this customer segment keeping in mind the future roadmap of the company. VisionData’s vision is to become a leader in the image recognition technology in future. We want our product to be used in various business segments like E-commerce, security, satellite/drone image processing, etc. To scale our product to all these segments, we should not get tightly coupled with any particular segment. That is the main reason for providing our image recognition technology as an API. Thus, we provide our services to E-commerce and developers without getting bounded tightly with them.

All the services we built for both E-commerce sites and developers are developed on top of our core image recognition technology. So in the future, if we add more customer segments, our core image recognition technology will remain the same without any modifications. APIs for both, E-commerce and developers, are different in terms that their response is different. E-commerce API will return similar products found in the catalog while developers API will return the tags of the objects identified in the image. Specifically small and medium sized businesses are our focus because this customer segment requires our technology more than big businesses.

Revenue Streams

We will generate revenue from our product using the monthly subscription model. The monthly package bases on the number of API calls allowed per month. Both E-commerce API and developer API will follow the same subscription model.

Team

Manel Smine

Mukarram Ur Rahman

Valentin Gerard

Vinothkumar Nagasayanan