We live in world that revolves around big data, and its only going to become more dependent on data as time goes by. Even so, the process of buying and selling data is annoying even in the best circumstances, especially real-time data. This is something that a Singaporean startup known as DataStreamX wants to change and it just received the funding it needs to do so.
Big data is supposed to change the world. In some sense, it already has. Amazon, Samsung, and Netflix use data to recommend content or products to you. Apple harnesses your app usage behavior to improve their software design. Big data goes as far back as Google using its massive data trove to determine the search results you see. A study by Bain shows that companies which adopt big data can leapfrog their competitors. You either join the rest or lose out. Yet the process of buying and selling data – and real-time data in particular – has been painful, says Mike Davie, founder and CEO of DataStreamX, a Singapore-based company that wants to make these transactions dead simple. He tells Tech in Asia that the startup has just closed a S$500,000 (US$368,000) seed round from undisclosed private investors to realize its vision.