6 Smart Big Data Startups
All six startups are graduates of the 2012 FinTech Innovation Lab, created by the New York City Investment Fund and nurtured by Accenture, Credit Suisse, Morgan Stanley, American Express, Bank of America, Barclays, Capital One, Citigroup, UBS, State Street, Goldman Sachs, Deutsche Bank, JP Morgan Chase and a host of venture funds.
The big idea?Produce a nearly frictionless means of allowing credit card holders to identify deceptive, erroneous and unauthorized line items on their bills and easily resolve any dispute with the merchant. The vendor helps card holders by compiling a big data base from crowdsourcing tweets, online discussions, complaint boards to identify repetitive deceptive practices. Adds data from banks. Helps merchants save money by pricing its resolution services below what they would have to pay to a credit card processor for chargebacks.
The big idea? Analyze links between different pieces of data. Finds relationships between particular people and particular activities. Creates interactive visual presentation of findings. Its form of link analysis. And the way it allows collaborative discovery of insights, from big data.
The big idea? Takes a time series of information say 90 days of the CBOE Volatility Index and looks for matches of the pattern in all available historical data. Then answers a query of exactly how much up or down the index (or stock or other security) can be expected to move in the next period.
The big idea?Creates dynamic, tactile maps of the stock market for iPad, iPhone and iPod Touch devices. Colorful, zoomable, fluid interface shows ups and downs of 1,400 stocks and allows user to tap into deeper levels of information on each one.
The big idea? Turns unstructured data into data that machines can understand. Deep processing of unstructured data. Assembly and organization of results. Analysis and uncovering of relationships.
The big idea? Creates interactive games that be played by user anywhere at any time on any mobile device that pose regulatory compliance issues in friendly fashion, links to policies, tests on results.
The financial industry is in the throes of coming to grips with terabytes and petabytes of raw, unstructured data ranging from email to internal documents to research papers to communications on social and mobile networks. And figuring out how to make money on it. Here are six smart companies to watch, who are grappling with solutions that search it, understand it, translate it, analyze it, present it and, ultimately, find ways to capitalize.
Top 11 Business Intelligence Software Companies
Avoiding 6 Big Data Storage Management Issues
Data Lakes Guide: 10 Requirements for Success
10 Phrases That Kill Big Data Projects
10 IT Security Books for Big Data Scientists
9 Business Intelligence Platforms for Midmarket Customers
10 Big Data Predictions
10 Chief Data Officer (CDO) Career Trends