Bangalore-based start-up Redwood Associates is set to launch ‘LookBeyondResumes', a data analytics-based B2C job search portal.
The portal targets employees with over three years of work experience or those at middle management levels, and blue chip companies that recruit in large numbers.
The portal goes ‘beyond resumes' and matches job seekers with available jobs using mathematical analytical solutions and probability techniques, rather than matching ‘keywords' in job seekers' application and employer requirements.
Free flow data
The company uses free style written information rather than specific psychometric tests or skill sets fed into the portal by the candidate to match job requirements, according to its CEO, Mr Gautam Munshi.
“Free flow written information about employee requirements are given by the company, the candidate similarly feeds in free-flow information about the kind of job he is looking for — not just skills he possesses or his qualifications. The data analytics technology then matches the right candidate for the right job,” Mr Munshi said.
“The technology we use is similar to analytical solutions banks use to assess risk levels while giving out loans,” he pointed out.
According to him, the free flow data helps the company customise the job search, and increases possibility of recruitment and suitability in the job. “It helps in bringing out information that one would otherwise only get during a personal interview,” Mr Munshi said. Redwood is looking for ‘monetary and non-monetary' partners to develop and promote the product, Mr Pavan Bhat, COO, said.
The Rs 3.6-crore company entered the data analytics industry in 2008 with a training institute, and has trained about 10,000 people in analytics so far. With the launch of its first product, the company now plans to reposition itself and expects over 90 per cent of its revenues to come from the portal next year onwards.