SMEs to get new technology to handle '˜big data'

The Datashed, based in Leeds, works with companies including Provident Financial, Hermes UK and Qantas, to help them understand their customers better through the ‘big data’ they hold.

Since the company launched in 2012, it has created a data store to keep all Qantas’s booking and flights information as well as analytical systems to track Provident’s online loans.

Managing director Ed Thewlis said: “Companies tend to focus on technology separately to business.

“The key aspect to every project we take on is to make sure the person building something is sitting next to the person using it.

“We are interested in driving the maximum value out of their data.”

Big data is high-volume, complex data that needs innovative processing and interpretation before it can offer valuable information, such as insights into consumer buying behaviour.

In 2013 it was identified as one of ‘eight great technologies’ to benefit from £600m in government funding to improve data processing.

Mr Thewlis said: “Big data is one of those terms that people overuse and never understand.

“Back in the 2000s the term meant lots of data but that’s not the case now it can also mean different types of data. It has become more complex.”

The Datashed has been working on building analytical technology to roll out to smaller firms for the last three years.

It plans to test it on a small group of firms in the next six months and roll it out more widely within a year.

Mr Thewlis said: “We find that smaller organisations have no hope of taking on big data projects because they are expensive so we are building a software service application specifically for smaller businesses.”

The firm is building single customer view technology to enable small companies to get a more detailed view of their customers.

The service, which will initially be free, aims to help businesses launch more personalised services to track customers and their communications across every channel.

Mr Thewlis said: “This is a key area that is complicated and can be expensive for smaller companies to do.

“Some larger companies and credit agencies are doing a similar thing but it is not free.

“I know an organisation which spent £3m building something very similar to what we’re doing.

“This is something that should be available to smaller companies as a matter of course.”

Yorkshire is a particularly strong base for data companies.

“With two out of three credit agencies, Callcredit and Equifax, in Leeds and Bradford we have more data in this region than in most of the rest of the country put together,” said Mr Thewlis.

“There are lots of interesting projects happening on our doorstep. We want to expand people’s awareness of big data and make everyone aware of the value within their data.”

A key area for the future of data is science, which could identify the spread of diseases and predict patterns of human behaviour to aid evacuation in major events such as terrorist attacks.

“It’s an exciting time for the industry,” said Mr Thewlis. “Most of this technology is open source, meaning it is shared so everyone can benefit from it.”

The company has also received support from Leeds Beckett University.

It was based at the university’s Enterprise and Innovation Hub until last year.