In this Leading with Data episode, Rajan Sethuraman, CEO of LatentView Analytics, discusses his journey from Accenture to leading a fast-growing analytics firm. He highlights challenges in transforming LatentView, stressing generative AI, talent acquisition, and geographic expansion. Rajan shares insights for those starting careers in data analytics.
You can listen to this episode of Leading with Data on popular platforms like Spotify, Google Podcasts, and Apple. Pick your favorite to enjoy the insightful content!
Key Insights from Our Conversation with Rajan Sethuraman
- Analytics firms’ shift from execution to strategic partnership is vital for delivering enhanced client value.
- Talent acquisition should prioritize a blend of technical, mathematical, and business skills, fostering a culture of continual learning.
- Generative AI is revolutionizing analytics, opening avenues for personalized and efficient solutions.
- Strategic geographic expansion and inorganic growth are pivotal for analytics firms to broaden market reach and boost capabilities.
- The swift growth of the data analytics market demands firms to adapt to emerging trends and explore adjacent opportunities.
Now, let’s look at the questions asked by Ranjan Sethuraman in the session and how he responded!
How did you start your journey into analytics and data science?
I joined LatentView Analytics in June 2016 after over two decades at Accenture and a year at KPMG. LatentView appealed to me, combining my background in management consulting, extensive analysis, and later expertise in talent acquisition and predictive modeling for hiring and attrition. This blend of business consulting and analytics is what attracted me to LatentView, where we address complex business problems through data analytics.
What was the transition like from Accenture to LatentView Analytics?
Moving from Accenture to LatentView was a significant change, given the size difference between the two companies. I was attracted to the potential impact I could have in a smaller, dynamic company like LatentView. The culture at LatentView was vibrant, with intelligent people working on challenging problems. My role evolved from Chief People Officer to CEO, and my focus has been on transforming LatentView from an execution partner to a strategic thought partner for our clients.
Can you elaborate on the early priorities and challenges you faced as CEO?
My primary goal has been to pivot LatentView from being an execution partner to becoming a strategic consulting partner. This involves helping organizations think through their analytics strategy and how it ties to their business goals. To achieve this, we’ve been building deep industry and domain expertise, developing domain-specific solutions, enhancing our consultative problem-solving skills, and leveraging external advisors’ expertise. Additionally, geographic expansion and exploring inorganic growth opportunities have been key priorities.
How has LatentView’s talent acquisition strategy evolved?
We’ve always focused on hiring a mix of technical, mathematical, and business domain skills from top-tier campuses and through lateral hiring. With the IPO, our visibility in the talent market has increased, allowing us to attract high-caliber candidates. We emphasize a culture of learning and agility, where employees are encouraged to take on new challenges and continuously upskill themselves.
How is LatentView adapting to the rapid technological changes, especially in areas like generative AI?
We prioritize hiring for fundamental skills and providing an environment for continuous learning. Our culture encourages tackling tough problems confidently and learning on the job. We have institutionalized mechanisms like internal hackathons and client-related innovation exercises to foster a culture of learning and staying at the forefront of analytics.
What were the organizational changes and outcomes leading up to the IPO?
Preparing for the IPO didn’t require significant changes, as we already had a culture of discipline and governance. Our focus was on profitable growth and strategizing for the future, including identifying key sectors and geographies for expansion, and considering inorganic growth to enhance our capabilities and market presence.
How is generative AI impacting LatentView and its clients?
Generative AI has created a buzz, with clients eager to explore its potential. It has democratized the understanding of what’s possible with analytics, leading to a surge in demand. We’re taking a three-pronged approach: developing core generative AI-based solutions, creating generative AI wrappers for existing solutions, and using generative AI to enhance our internal productivity.
What is LatentView’s approach to geographic expansion and inorganic growth?
We’re committed to expanding in Europe and exploring opportunities in India and Asia Pacific, focusing on Fortune 500 companies and leveraging advisors’ expertise. For inorganic growth, we’re looking at acquisitions that can help us leapfrog in key sectors and capabilities, with a focus on companies that bring additional IP and non-linearity to our services.
What is your vision for LatentView in the coming years? And what trends do you foresee in the data analytics domain?
The data analytics market is expected to grow significantly, and we aim to quadruple our revenue in the next four years. The shift from systems of record to systems of decision-making presents immense potential for data analytics. We’ll also explore adjacencies in industries, geographies, and types of work that align with our current offerings.
Any advice for individuals starting their careers in data analytics?
Be resourceful, agile, and willing to learn continuously. The ability to seek help, move quickly, and adapt to new skills is crucial in the dynamic field of data analytics. Keep learning and reinventing yourself to stay relevant and ahead in your career.
Summing Up
Rajan Sethuraman’s journey exemplifies the evolving dynamics of the analytics industry. From talent strategies to embracing generative AI, LatentView’s transformation into a strategic partner underscores the industry’s shift toward decision-making systems. As they eye geographic expansion and inorganic growth, Rajan envisions quadrupling revenue in the next four years. Strategic evolution, talent agility, and adapting to emerging trends—serve as a compass for navigating a career in data analytics.
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