A year ago DataStreamX made their inaugural entrance into Echelon, presenting in a breakout room on “Data Monetization; Opportunity, Myths and Design”. They were yet to launch their full platform but garnered a standing room only crowd of eager participants looking to understand how to monetize their data assets.
“Echelon 2015 was a great experience for the team. Not only did it launch DataStreamX into the wider Singapore start-up scene, it gave us exposure to the large corporations walking the floor,” recalls DataStreamX founder Mike Davie. “We were able to hear firsthand from across industry verticals on the data being collected and the difficulties monetizing it.”
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The inspiration for DataStreamX came from the founder’s exposure to telco data over the last decade. “There is so much that is underutilized and wasted” reminiscences Davie. “Telcos from North America, the Middle East and SE Asia all shared the common belief; they weren’t doing enough to monetize their enormous data volumes. Once we launched DataStreamX we quickly learnt it isn’t only the telcos who are facing this predicament.”
And expand the marketplace has. Leading organizations from across finance, supply chain, retail and mobile are all working with DataStreamX. “We are only at the tip of the iceberg with the data that is live,” states Navas Khan, Marketing Lead and Employee #1.
If the line-up after the presentation was any indication, DataStreamX is on to something. “What was clear is that many organizations, big and small, are looking to tackle this issue”, recalls Davie. “But many companies still lack the know-how to do so.”
Where there is lack of maturity there is opportunity. “The great part about being in the forefront is that our booth was never quiet,” recalls Khan. “When it comes down to it, data use cases are globally applicable. So with are global reach we are able to identify and support regional companies on their path to monetization.”
After the dust settled from the conference, the reality set in. “We needed to address the issue of maturity,” states Davie. “We found ourselves consulting everyone from small two person start-ups to multinationals with tens of thousands of employees.”
DataStreamX’s services can take any company from zero to monetization. “Creating a new revenue stream from your data assets doesn’t need to be complex, and we are able to walk companies through the process in a very structured manner. Starting with a data audit, we identify the use cases, consult on how to package data and guide on pricing.”
With Echelon 2016 just around the corner DataStreamX claims to have some big plans ahead. “We are entering the next big phase which includes expansion here in Singapore”, says Davie.
“Alongside Singapore’s drive to become a Smart Nation, DataStreamX looks to ensure Singapore is the place where the region’s data transacts. We will to continue to support Singapore’s ambitions by pushing in new areas of Research and Development”, says Davie.
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When asked where this will take the team, “Expansion of our data science work is next”, states Davie. “The best part about DataStreamX is that we work with some of the world’s most diverse data sets and we look for those who share our passion; to learn from data and apply these lessons to organizations around the globe.”
And regarding Echelon’s Top100. “It was a pleasant shock to be selected as one of Singapore’s representatives and we are grateful for it”, adds Davie. “We look forward to representing Singapore well and helping make the event huge.”
Want to see more of DataStreamX? Come on down to Echelon Asia Summit 2016 to meet them and 99 other startups live! Secure your tickets now with an e27 reader special: Simply input promo code SUMMIT20 to claim a 20% discount. See you at Echelon this coming June!