Omega Point was started as a direct result of the problems encountered by our founding team – the pain of acquiring and analyzing hundreds of data sets to forecast and monitor companies, sectors, and markets.
New unconventional data sets (e.g. satellite imagery, hiring data, sentiment data) are extremely insightful and have tremendous forecasting value. However, identifying, onboarding, and analyzing these data sets is extremely difficult.
Some of the hurdles include:
- New unconventional data is increasingly difficult to find as there is no standard search in the growing and fragmented market of “big data” – It should be easier to answer questions like “where can I find foot and web traffic into my competitor and does this data correlate to their revenues?”
- Data is costly to onboard and acquire due to bundled pricing and long compliance processes – “How do I know if this data set is legally obtained and does it meet compliance standards? Can I just access data on the companies I am interested in as opposed to purchasing the bulk packaging?”
- Data is difficult to analyze as data increases in volume and complexity. At the same time data scientists are scarce and most analytics technologies are insufficient – By 2018 there will be demand for 490,000 data scientists with less than 200,000 data scientists available.
The Omega Point team comes from companies at the cutting edge of harnessing value and insights from data. Throughout our careers we have experienced all of the data frustrations listed above and found effective solutions along the way.
Now we are bringing together those best practices, technologies, and philosophies to solve your data problems.
It’s my pleasure to introduce Omega Point.
At Omega Point we aim to put the world’s data in your decisions. We build products that help strategy and finance professionals unlock valuable financial and economic insights without having to build their own complex analytics infrastructure, find and purchase large numbers of individual data sets, and hire teams of data scientists.
Businesses, governments and the global community are going to need solutions to make sense of and utilize all of the world’s digital exhaust. I’m excited to be building a part of the solution with the rest of the crew here at Omega Point.