iPredict – Sports Prediction Engine
Prediction market is growing at a significant rate and even though sports minister equates that to betting/gambling, this space will witness more action in the coming days (as Indians embrace newer format/games and channels like mobile will play a big role in fuelling the growth of prediction industry).
iPredict is a prediction engine built by Bangalore based startup, EtchTech and the the product is being licensed to companies as a SaaS service (i.e software as a service).
iPredict’s predictive engine is built with analytical tools and algorithms (for instance, takes care of past data of teams, player performance in a particular format of game, location, pitch, weather conditions and given opponent etc) in a hosted services model.
The Service can be plugged into any partners offering i.e. games, fantasy sports leagues, simulation gaming, betting sites etc– and the team claims accuracy rate of 60%+.(overall effectiveness of Predictions of iPredict with real events has been at 78%.) 
Apart from sports, Etchtech also offers it’s analytical service to enterprises – Perforamance Score Card (PSC) and Employee Social Network Analysis (ESNA)
PSC helps companies capture the work / task progress on a regularity (Daily, Weekly, Fortnightly, Monthly, Quarterly) and measure the task performed against the pre-defined KRA’s / Targets on a regularity. The engine helps companies Identify and track the non-performers on a regularity.
Similarly, the company offers Social network analysis to enterprises to understand the connection between patterns of interactions among its employees and business outcomes
The startup doesn’t have a interactive consumer front end (which is alright, if they are sure of playing the enterprise route – read this: Consumer or Enterprise Service? Who do you want to be?) and is looking to sell it’s service to enterprises as well as charge users to access the prediction data.
iPredict has done pilot with a telco for their IPL sms game.
The biggest challenge for iPredict is going to be on licensing it’s IP to enterprises – they should start making noise about the data accuracy – in order to get their voice heard; otherwise selling this to enterprise market without a consumer face is quite a challenge (questions over credibility)
What’s your take on EtchTech/iPredict?
Similar startup: LordsofOdds
About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
iPredict scores only 3/10 matches in the recent past catergory!!
and the runs and wickets tally never matches may be 1/20. Sometimes they give scores for people who did not play in the match as well.
This is anybodies guess.
I just wasted my 15-minutes going through the pages.
Good to see, some one in India is working on high end algorithms.
Cricket is game of uncertainty and accuracy is always in question. Cricket is game where player current form is very important to consider, but in this case, not considered yet. Example Virendra Sehwag ;((
I m suspect, past is not always give insight about future. Analyzing past always give up to 60% insight, but what about rest. In current environment, we need more accurate results.
Lets take another example of this algorithm, consider Ashish is writing 5 blogs everyday with consideration of pluggd.in past performance, Timing of blog post, different competitor in same domain with same location (i.e Bangalore), pitch is Internet, weather condition considerably hot (lots of gyan, and startup info). Will ipredict predict, how many blog he will write next day and what time? my hand is cross
At last, Ipredict is selling this data to user with nominal fee. What user will do with this kind of data (betting with real money), that means he is encouraging bookies and betting. Is this ethically correct to do.
My son predict much better that ipredict, and most of time he was absolute correct.