Dark data: Datumize helps businesses make sense of the 21st century oil
By Anais Masetti - 02 October 2018
It’s one of the most pervasive slogans of the past year: “data is the new oil”. And it’s not just a fancy buzz-phrase (even Intel CEO Brian Krzanich said so), as data really can better inform business and lead to greater sales results, not mentioning the increase in efficiency it can catalyse. Our societies are producing a phenomenal amount of digital information across all activities. Indeed, internet users globally produce 2.5 quintillion bytes of data each day, according to a study by Domo.
So, no one can deny that data – especially dark or hidden data- is a goldmine for business, but it doesn’t necessarily mean it is easy to tap into and turn it into actionable information. That is why the sector of Big Data is flourishing. Among the successful companies that recently arose in the sector, we find Datumize.
The Barcelona-based startup received a high rating of 79 out of 100 by Early Metrics in August 2018 which placed it in the top 10% of all our rated companies.
Datumize helps companies better understand their customer demand and day-to-day operations, by collecting and analysing dark data. This then provides powerful and actionable insights to boost sales and improve operational efficiency. For instance, the startup successfully enabled airline Vueling to detect new routes and cross-selling opportunities by analysing temporary data and the customers’ behaviour online.
Since its foundation in 2014, the company has managed to stand out from its competitors thanks to the innovativeness of its solution, which mixes both hard and software, as well as a fast time to market. Moreover, Early Metrics’ analysts saw a strong potential in this start-up mainly due to their in-depth market expertise and extensive experience developing enterprise software architecture.
According to our rating, some of the challenges Datumize may face in the future include an increasingly dense Big Data and IT market where big corporates are developing similar products. However, by keeping up their speed of execution and scaling their business administration skills, the company could very well continue to excel and secure its place as a key player in this ecosystem.
The startup wrote in its blog: “This rank is for us a recognition of the continuous effort of the whole team, and we are thrilled with the results of the audit and the growth predictions that the analysis confirms. Datumize has secured the Series A investment and increased the market penetration noticeably and is now growing the team to face the upcoming challenges.”
We look forward to seeing Datumize fulfil and even exceed its potential in uncovering the secrets of hidden data in the years to come.