Today we’d like to introduce you to Archil Cheishvili.
Archil, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
Our team members worked at various companies ranging from Bridgewater Associates to Goldman Sachs and Google. In every single company we worked at, we found how hard it was to make accurate predictions about employees’ future performance and retention. It was extremely challenging to judge people’s potential and know whether they would leave the company or not. We merged our passion for developing next-generation AI technology with our desire to solve the problem and started Palatine.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
It has been roller coaster ride. High volatility. Volatility is one of the things that makes running a startup exciting. You get motivation through reflecting that you might create something that can transform people’s lives.
We had both technical and business challenges. For example, until the past July, our predictive analytics was not better than a random guess. Our vision always has been to create AI that is so smart that it could accurately predict employees future performance and retention. The fact that we could not deliver on our vision was terrifying.
We started to generate more data through increased user engagement and through acquiring multiple customers. Data helped us to adjust our statistical models that resulted in us making accurate predictions 75% of times, which is unparallel in the industry.
Palatine Analytics – what should we know? What do you guys do best? What sets you apart from the competition?
Our web-platform collects data about employees using 4 ways. First, 360-degree employee feedback. Employees at companies observe a colleague’s behavior and select the attribute they want to rate them on. A rating from 1 to 10 is entered into the platform, along with a brief description justifying the numerical rating. Second, employees set and manage goals. Third, employees answer survey questions about how they are feeling throughout the week. Fourth, employees and managers do one-on-one monthly check-ins regarding employee performance and morale. After collecting data, we analyze it and provide insights about employees current, past and future performance. Our predictive analytics is our biggest differentiator. It is unparallel in the market. We have developed a technology that, 75% of the time, correctly predicts whether your performance (quantified in a score) will be higher or lower in 3 months compared to your current score.
What is “success” or “successful” for you?
Success is all about getting what you want out from the life. And it is up to you to decide what that is for you. It does not matter whether you want to play video games all day or go to Mars. What is the most important is that you are clear about what you want and then you do everything to get it. You can get what you want out from life, by dealing with realities, being ambitious and being determined.
There are only two ways to be happy with the success that you achieve. First, you have high expectations and you strive to beat it. Second, you have low expectations so that your current condition is better than your expectations. Happiness is all about your current condition versus your expectations.
Contact Info:
- Website: www.palatineanalytics.com
- Phone: 617-922-4131
- Email: archil.cheishvili@palatineanalycs.com
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