$3.8m funding allows Digital Contact to invest in cutting-edge technology
Using the funding to turbo-charge its technology, Digital Contact has been able to increase the efficiency of its big data analytics engine – enabling the company to now process more than 250,000 messages per second – up from 55,000 – and more than 22 billion per day.
Since the company’s launch, it has gained support and funding from some of the most influential investors in the UK’s financial industry, including: Adrian Ware, CEO of Cavendish Ware; John Maltby, CEO of Williams & Glyn and Dave Wallace, CEO for HealthWallace Ltd – part of WPP Group.
Digital Contact CEO Gareth Mann, said: “This funding is a huge boost, and will go a long way to cementing our position as a leader in big data products and services. As a first step, it’s allowed us to invest in leading technology, processing billions of messages each day. We’re now in a position to move forward with our solution, to refine and improve our offering and translate the mass of information out there into something tangible that businesses can work with.”
Developed in-house and designed to be used across multiple sectors, Digital Contact’s proprietary big data analytics engine is able to scan any source on the Internet – including news sites, blogs and social media - collate and refine the data, using the company’s own exclusive algorithms, and then deliver it to the end-user in an easy-to-understand format, in real time.
The technology and sentiment tracking can search for any topics or conversations taking place online about a company or particular subject, and break that data down, defining whether what is being said is positive, negative or indifferent.
A substantial business benefit, companies can utilise this data to help establish a better relationship with customers, understand consumer needs, see the differing trends from around the world and help predict future trends in the markets.
The funding has led to Digital Contact establishing its own proprietary Hadoop cluster – one of the key tools utilised by big data companies. Having its own physical data centre means that Digital Contact has complete control over the technology and its security.
Due to be launched soon, Digital Contact’s first product is Trading.co.uk - a b2c financial services tool which enables traders to monitor financial news and live stock prices, for free.
Trading.co.uk allows traders to gain an edge with by delivering near-instant insights into the industries they care about. Its financial news stream gathers information from millions of sources, delivering near real-time news and analytics as it breaks about any financial topic or company, across any industry. Users can see the bigger picture and understand the smallest influences that might affect trading decisions; from global events moving the price of stocks or commodities, to local news and chatter impacting how a company operates.