The Mango Data Model

Sometime in 2025:

Hi - This is Chandan. I am going to tell you a story. Five years earlier when COVID -19 spread in India along with the entire world the economy was stuck. Many of us loses jobs too. Since almost in all industry human labour is one of the most important thing and the entire species was locked down in their home to get rid of the virus - the world economy got standstill. 

Financial institutions pushed money into the system - banks were eager to give loan but they needed collateral. And look at any bank back then it was old product they had to offer like collateral-based loan product.  

Then some of the company came up with new ideas with new product backed up with predictive analytics which I call a mango model. Well, it started this way. 

At the summer of 2020 in India, they grew a lot of mangoes and it is a perishable good. Farmers started to tweet and send posts on Facebook to collet 5Kilo packet of mangoes and order in bulk. They would come down and drop the mango in the doorstep. 

The farmers have the mangoes, but what they did not have was the knowledge of the market. They did not know the average consumption of mangoes of the families. they needed a transport system, a delivery system to deliver and for that, they need money they needed a loan from a bank. 

Back then few of the startups came into the picture. They put whatever sale information they have into a machine learning tool like watson and do some predictive analysis. They bring that model to banks and bank validated the data. That was what treated as the collateral. It was a risk for the bank but anyway they already had huge money which needed to be disbursed. This brings a new product to the bank, which treats the data and predictive analytics model as the collateral. And that worked. Slowly the consumption of mangoes by the people was tracked more regularly and after a couple of years, it became popular. 

Now the after 5 years, the mango model did work for us and bank came out with new new products where all that you need is to provide data and proper data with the predictive analytics tool. 

These years you can find Startups working fine with fruit business and many more. 

This was the story how the world changed after COVID -19 and farmers got the actual price of their product directly from the farm. 

If you like my story of mango model let me know if this is what should have happened five years back in 2020 when India was fighting with COVID -19 ? 

CHANDAN NANDY 

For further detail understanding the original idea please look into the below link:

https://www.garudax.id/pulse/accelerating-financial-inclusion-analytics-cloud-surjit-das/?trackingId=RK3aCrlhQuGYxuZsREg52A%3D%3D