In the technologically advanced era, data is becoming a major asset for everyone whether it is an individual or for any organization. The data is being generated swiftly and in a huge amount that too on daily basis. But to manage that unstructured data always remains challenging. Organizations are putting huge efforts to make the data accessible to all in an effective way. Data security also becomes an important aspect in the wake of rising cyberthreats. SocioRAC’s HyLyt app is one of the platforms to host and access such valuable data. Rajeev Ranjan, Editor, Digital Terminal held an interactive chat with Rajat Singhania, Founder, HyLyt by SocioRAC. Mr. Rajat shared insights about the HyLyt app, data security and how this app resolves the issues related to data management.
Rajeev: Can you please brief me about HyLyt app? How does it simplify organizational data management?
Rajat: HyLyt is a platform that offers a unique value to both individuals and businesses alike. With the use of digital technology, the app's goal is to organize and categorize the massive amounts of unstructured data generated by users across all platforms they use, and to serve as a central repository for keeping pertinent sensitive data in a secure manner.
HyLyt’s sole focus on superior data management has resulted in a platform that is extremely user-friendly. Secure communication is one of HyLyt's primary characteristics; note-taking and sharing are all done in one place. Files can also be shared (images, video, and all others).
Users can use the app to plan and schedule meetings, which simplifies the work of communicating meeting data. Password-protected conversations and the ability to restrict others from sharing and forwarding your messages are two of HyLyt's strongest features.
Rajeev: How do you leverage digital technology in the app to systemize the enormous amount of unstructured data generated by users?
Rajat: On HyLyt the platform comprises of a 3- dimensional and matrix structure for connecting the different pieces of information. Every piece of information besides being connected to a folder can be connected to multiple other pieces of information across multiple folders. You could have a hundred pieces of information in ten folders of ten different formats which can be interconnected and there could be ten such inter-connection available for each piece of information. This helps you make your data ten times more powerful.
Rajeev: How do you assure data privacy in HyLyt App as it is something which organizations care about most?
Rajat: All data on HyLyt has end-to-end encryption. Even at the device level, it can be decrypted and viewed through HyLyt only. You can host the entire data on a server of your choice anywhere in the World. HyLyt gives you patented options to restrict people from sharing and forwarding information received by them and to remove all information from any user once they leave the organization or to transfer to a new user who joins. Infact all these options are not available on the current products used by them.
Rajeev: What according to you is a major challenge for Data management market? How do you address such issues?
Rajat: We see new products come out everyday. In fact studies show an average user uses 12-16 products/ apps on any given day. One common result is data output by all these products. The concern is how do users manage all this data sitting in multiple places which is useful to them. This only adds to the problem of data management. This will only become worse as we move forward. AI is here to help us do some things and manage all this data, but it will be some time before AI can help us to the extent required. This is where HyLyt comes in, it gives users the power and tools needed to mitigate the problem and have better and smarter ways to manage their data that matters.
Rajeev: What are your growth roadmap for year 2022? What all plans do you have for further expansion?
Rajat: We are working on our roadmap to generate 2.5 billion man-hours of additional productive time by 2025. Besides that, we are striving to go global with our technology and service offerings. New offerings in the works are Integrations, voice based functions, AI/ ML, Blockchain, etc.