India, Aug. 17 -- Data is the new oil- famous words spoken by British mathematician and data science entrepreneur Clive Humby are proving more valid than ever in the modern-day environment. Effective data gathering and intelligence impact are not limited to well-established and giant companies.

In fact, it is equally crucial, if not more, for Micro, Small, and Medium Enterprises (MSMEs). This is primarily because MSMEs are often unrated; therefore, opacity increases borrowing costs or imposes collateral requirements. As a result, MSMEs end up having only expensive financial options, which given their size, is not optimal, to say the least.

Apart from that, MSMEs are usually founded by skilled entrepreneurs but with small-scale capital. ...