As the volume of data generated by an enterprise’s day-to-day operations, not to mention IoT & other emerging tech that is rapidly swamping us with machine generated info, a way to figure out what can be done with it, besides paying for storage costs, is needed. This is where data analytics company like ‘Knoyd’ can come in handy.
Knoyd promises to be able to “separate fraudsters from reliable customers, determine music taste from brainwaves & tell people, where they want to travel next”. Other things that they claim to do are: find connections between people, find out what music people like from brainwaves & predict whether folks would like or dislike specific products, by using their customized data science solutions.
Knoyd’s methodology is best expressed in their Website:
- Opportunity – Find out what your data is capable of: Let us know what data you have & what issues you are facing, & we will tell you what questions to ask & what solutions to seek.
- Prototyping – See if the idea meets expectations: We come up with possible solutions to the issues you are facing allowing you to see what your data is capable of.
- Implementation – Make the new solution play nicely with what you have.
In a blog post, the main sentiment & philosophy of this startup is laid out. It states that intuition, although often useful, can rarely be relied upon to compete with data-driven decision making. Raw data, however, is not meaningful unless you can translate it into useful information regarding your company’s particularities & needs. Data, not only tell you something about the past, but can actually be used to “predict” the future. Things like the future behavior of customers & employees, as well as of prices (& much more), can be gotten at from careful analysis of past trends.
Knoyd was founded by a group of young, mainly Slovak data scientists & entrepreneurs, & is located in Austria.
– This post is merely a startup profile based on publicly available information & not a review. –
Image Credit: Knoyd