Data Is King!

Photo credit

In today’s global business landscape the ones at the top can keep their momentum only by leveraging data. Every device or gadget today generates some sort of data that in its turn can be stored transformed and fed into advanced machine learning and Ai algorithms to provide critical insights that usually drive the business to a whole new level. Companies like Facebook or Google know this well, by providing you with a seemingly free service they get in return tons of data about your internet habits related to social interactions, purchasing patterns and overall internet presence.

Given the fact that most businesses rely on the internet to grow, having this data at your disposal translates into the competitive edge that these big companies have. Information is captured in various ways, and one of the promising mediums is via IOT (Internet of Things) sensors. Every mundane home appliance can incorporate such a sensor and thus creating datasets regarding a wide range of information.

From temperature data to electricity consumptions, taking it a step further cities can implement networks of IoT sensors to measure city-related data like pollution, weather forecasts, crowd-related stats that once put together by highly trained individuals can translate into actionable information that’s useful to the community. Currently, such networks of sensors are deployed only by specialized companies or organizations that usually store this data in massive secured silos with limited access only.

Power to the people through data

Collecting useful data via networks of IoT sensors is no easy task. The investors are aware of this given the deployment and maintenance costs of such networks it’s only natural that they don’t want to share the collected data with anyone.

DatabrokerDAO (https://databrokerdao.com/) proposes an attractive solution to this issue by building a decentralized marketplace where Data Collectors will meet the Data Buyers that cannot afford to maintain such a costly hardware network. The benefits of such a platform are more than evident for all parties involved:

Data Collectors

As the cost of running the IOT networks is currently pretty steep, the data collectors will finally have the opportunity to sell their collected data safely and reliably via the DatabrokeDAO ecosystem. This will not only lower these costs but it will also incentivize other organizations to start collecting data as the barrier to entry diminishes even more.

Data Buyers

It’s no secret that business decisions need to be acted upon fast or you might lose your advantage to the competition. Deploying a hardware system to collect useful data might take a while so having a place that’s a one-stop shop for all your data needs will streamline the business process for small and medium companies as well.

Data Processors

Not all companies have the capabilities to make sense of the collected data so the DatabrokeDAO might be the perfect environment for highly trained individuals in data interpretation to thrive. They might buy data for the specific purpose of enriching it and then selling it back to companies that need actionable insights right out of the box.
Telegram
ANN Thread
BOUNTY Thread