If predictions are correct, global spending on big data will reach $125 billion in 2015 and so far this year there have been a number of product launches from start-ups that are proving to be extremely hot within the fast growing big data and analytics space.
The United Nations Economic Commission for Europe predicts that data growth will be 350 per cent higher in 2019 than it is in 2015, which means that this area is only going to get bigger and firms require technology solutions to help them effectively deal with and make predictions from such large volumes of data.
1. Big data and analytics company, Kyvos Insights, launched with a bang at the end of June 2015 with their solution named Kyvos and has already been named one of TRN Magazine’s coolest start-ups of the year during their tech mid-year review. The team behind Kyvos, which enables corporates to derive insights from any sized data, is made up of veterans from Yahoo!, Impetus and Intellicus Technologies.
2. Named by Analytics India Magazine as one of India’s start-ups to watch in 2015, Infinite Analytics is a predictive marketing and analytics company which was co-founded in 2012 by two MIT graduates and has its genesis in a class taught by Sir Tim Berners-Lee. Based in Boston and Mumbai, the team is made up of MIT graduates and advisors in the form of Berners-Lee (inventor of the World Wide Web) and Deb Roy (Chief Media Scientist at Twitter).
3. Another one of TRN Magazine’s coolest big data start-ups of the year is real-time stream data management company, Confluent. Founded in September 2014 by the creators of Apache Kafka, Confluent enables companies to gain business value from live data and at the beginning of July the company hit headlines for raising $24 million in Series B funding.
4. Medio is a B2B analytics provider based in Seattle. Acquired by Nokia’s mapping, navigation and intelligence venture HERE in June this year, Medio’s predictive analytics capabilities will be used to strengthen HERE’s platform and ability “to deliver more personal experiences in cars, on mobile devices and to businesses,” said Michael Halbherr, CEO, HERE.
5. According to CB Insights, banks are also investing heavily in the area of big data analysis and Goldman Sachs invested in a number of start-ups in this area. Two notable start-ups which gained investments from the bank last year are small US-based financial start-up Kenso, which received $15 million in an investment round led by Goldman Sachs and Context Relevant, a company that concentrates on big data analysis software, which raised $13.5 million in a Series B-1 funding round from big names such as Goldman Sachs and Bank of America Merrill Lynch.