A NYC-based company has been providing a consultancy on alternative data for many years. There is a lot of manual work involved, including having to review the data sets, connecting suppliers and buyers, and keeping up-to-date on all the interactions. They presented us with the idea of replicating this as a SaaS model.
Challenge
Everybody is generating data, and lots of businesses don't track it - much less monetize it. On the other hand, prospective buyers are its own breed: VC funds, institutional investors, bankers. The key to success was to speak each one's language so we could focus on the results and not the process.
Goal
We wanted to automate as much as we could: from both suppliers and buyers signing up, to reviewing the available data sets, requesting new products, and using the platform as a communication hub. Paying for them online, too. We even wanted to provide a test bed for analysts to run their scripts and qualify the data, in real time.
Solution
Inspired by the belief that we can always do things better using technology, driven by the insights provided by data buyers and suppliers, and the support and guidance from our investors and advisors, we built and launched the first fully-digital marketplace for alternative data designed by and for Financial Services companies.