Innovative water management technology start-up to monetize data with DataBroker DAO
DataBroker DAO and Belgian start-up Strategic Water are happy to announce that they have signed a letter of intent to utilize DataBroker DAO as a standard component in the water management platform of Strategic Water.
Strategic Water, a start-up grown out of the University of Ghent, is aimed at water technology providers, merging cutting-edge data science with water and wastewater treatment technologies in order to optimize performance and change the value proposition around data in the sector. Their mission is to use advanced data analysis and machine learning solutions to drive technology diffusion across the globe.
“Distributed and decentralized water treatment plants are expanding their services worldwide, but are difficult and expensive to maintain and manage — particularly when one expands operations. The outgoing data load of a network of units can be enormous, and engineers can wind up digging through data graveyards in order to optimize operation or counteract a failure. One CTO told me that it was starting to creep up to 50% of his work hours as the company expanded its services,” explains Stephen Andersen, founder of Strategic Water. “A compromised treatment unit or network can impact the local environment, the local industry and, worst of all, the health and wellbeing of the locals, while an excellent, high-performing unit can contribute to the local economy not just with clean water, but maintenance contracts, logistics support, and more.”
Strategic Water has come up with a solution to this problem by bringing data science to the table, incorporating advanced analytics at the edge of operation. The company’s innovative platform will allow central oversight across a network of treatment units, packaged into tailored modules, ‘Business Analytics for water’, as Andersen puts it. As a bonus, this data analysis process also allows water technology companies to isolate proprietary data from the multitude of non-proprietary data. “Rotational assets are a huge cost — imagine the value of knowing the quantitative performance history of a pump before you buy it. Imagine selling the data around your optimized strategy for cleaning fouled membranes. These are examples of the data we would love to broker to in order for our clients to tap an additional source of income,” Andersen adds. “And DataBroker DAO is the ideal platform to get this done.”
“We are regularly asked about the most compelling use cases for DataBroker DAO and to be honest, there is no right answer,” says Matthew Van Niekerk, CEO of DataBroker DAO. “The value of data is in the eyes of the buyer and I assure you, there are few types of data that are not valuable to the right buyer. DataBroker DAO provides unparalleled access to hard to get, streaming and processed data to interested buyers while providing a direct path to data monetization for sensor data owners.”
The Internet of Things (IoT) market is a huge global business, accounting for nearly 900 billion USD in expenditure in 2017, and there are nearly 9 billion sensors already deployed around the globe. “As you can imagine, the diversity in the types of sensors is extremely broad,” Van Niekerk continues. “Water management data is yet another valuable type of data that, before DataBroker DAO, remained locked in data silos of the sensor owners, or lingers in the data graveyard of the owner, as Stephen likes to put it. We have built DataBroker DAO to scale, so that the benefits of access to this data at affordable prices can be enjoyed by data sellers and buyers irrespective of the type of data. We are thrilled that Strategic Water will incorporate DataBroker DAO into their production platform and strengthen the 25+ member DataBroker DAO Alliance.”
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