Big Data doyen guns for Disruptive Technology title
A Cambridge company raising millions to become ‘The Google of Big Data’ is bidding to win the Disruptive Technology category at this year’s Business Weekly Awards.
GeoSpock has massively refined its proposition, is hiring more heads for its city centre HQ and is on the cusp of raising a significant new cash pile to underpin a fresh spurt of international growth.
CEO Dr Steve Marsh reports increasing global interest in the technology as flow of data reaches tsunami proportions in government and corporate sectors.
GeoSpock’s revolutionary approach to indexing and visualising location and time-based data is set to transform analytics capabilities for organisations in swathes of multiple segments across the globe.
GeoSpock solves the problems associated with data analytics tools that struggle in real time when accessing several billions – sometimes trillions – of lines of data and incur significant data storage costs to run.
The technology enables the analysis of these enormous rows of data with sub-second interaction while saving clients money via a cutting edge data indexing solution.
Location and time-series data can be queried via the company’s natural language SQL or via a feature-rich and intuitive visualisation GUI. Dr Marsh said: “We are inventing new bleeding-edge capabilities that will solve future problems that will far exceed even the biggest of Big Data challenges we have seen in the past.
“Google gives you sub-second searches from the virtual world, but with our technology we can do sub-second searches of the physical world. Searching by time and location aligns very well for IoT use cases.”
Potential applications cover many vertical markets, including advertising, smart cities, healthcare and pretty much anything under the umbrella of the Internet of Things.
IDC forecasts worldwide spending on IoT to grow 16.7 per cent year on year in 2017 to reach $800 billion (£630bn). The analyst group expects global IoT spending to total nearly $1.4 trillion by 2021 as organisations continue to invest in the hardware, software, services and connectivity that enable an IoT world.
Dr Marsh welcomes the fact the discussion has shifted away from the number of devices connected to the true value of software and services combining to enable the capture, interpretation and action on data produced by IoT endpoints.
He notes: “GeoSpock has been solving these problems for four and a half years, before IoT was a thing and autonomous cars were still in people’s dreams – but I could see this evolution towards an explosion of realtime big data being produced by sensors in the physical world.
“None of the other technology out there was built to handle that volume, velocity and variety of data. We needed to fix that fundamental problem because until then all of these future use cases, such as dynamic fleet control of autonomous cars and management of smart cities, will remain unattainable.”
Forget big data; how do you manage extreme data? IDC suggests worldwide revenues for big data and business analytics will grow from $130.1bn in 2016 to more than $203bn in 2020.
The rapid growth of this sector and rising demand for tools to address big data challenges is attributed to growth in information, a new generation of technology and a cultural shift towards data-driven decision making.
“Without using big data, you leave an awful lot of value on the table and the simple fact is in the future you won’t be competitive because someone like Amazon or Google will arrive and disrupt your whole industry,” Dr Marsh says, adding: “It’s got to be a priority.”
GeoSpock’s technology goes beyond Big Data and moves into the realms of extreme data management and has the ability to shine a light on ‘dark data’ – unlike other search tools – according to Dr Marsh.
For details on how to enter the Business Weekly Awards and the full category list visit http://bit.ly/2ymheRb
• PHOTOGRAPH SHOWS: Dr Steve Marsh, CEO and founder of GeoSpock