Now that cloud computing has made it economically possible to capture and collage large amounts of data – that is, “big data” – many organizations equally economical way to analyze and transfer data across various business applications. Trying to find
The rapidly increasing demand for powerful analytical tools to understand the meaning of old and new data streams is prompting many organizations to invest millions of dollars in data scientists and expensive consulting services.
Enter Algorithmia and Bedrock Data, two cloud-based companies offering online marketplaces to measure these earlier issues.
Algorithmia is bringing together the open source movement and the Amazon Mechanical Turk crowdsourcing developer Marketplace Idea to address the data analytics challenges facing organizations of all sizes.
Through their online marketplace, organizations can find proven algorithms that can be obtained on a pay-as-you-go basis and are quickly downloaded to meet a specific business need.
The idea of data warts where companies can acquire third-party data feeds has been around for some time. Algorithms are now making it easier to implement analytical tools for data to unlock their business value.
It has established a bounty system similar to many popular crowdsourcing services, enabling application developers to respond to specific requests for particular algorithms.
Bedrock Data has established a marketplace that makes it easy for users to acquire and install application program interfaces that allow standardized software packages to trade data.
This is not a new idea. For example, Dell acquired a data integration company that pioneered simple data integration mapping in the cloud, and there are plenty of places to buy APIs. However, simplifying the deployment process is no small task.
There are many API marketplaces that enable different applications to interoperate, but one step to make it easier to ensure data integration between bedrock data CRM, sales and marketing automation, customer support, e-commerce, financial management and other common applications going forward. .
The company’s founders first saw the challenges associated with the task when they worked at HubSpot and attempted to integrate their marketing solutions with other key business applications.
They have created a data integration platform and library of standard integrations with a lot of user friendly “how” documentation. The platform not only maps data across various applications, but also synchronizes it continuously.
Every layer of the cloud cake – SaaS, Paa and IaaS – is making it easier to acquire applications, development tools and computing power. Maximizing the value of those resources is also becoming easier as new generations of solutions take shape.
Iron is hot while striking
Cloud-based, on-demand services of algorithm and bedrock data are turning the old world of software development and data integration into point-and-click simplicity.
These companies are bringing their services to the market at the right time, as organizations are facing demands. Their innovations are making it easy to derive real value from the cloud through a broad array of business applications.