DATAVLT – The Forefront of Data Analytics on Blockchain


We are an on-demand data analytics platform that empowers businesses to make informed decisions with enterprise quality insights cost efficiently, via secured decentralised ledgers and supported by Artificial Intelligence.“Roughly 2.5 billion GBs of data are created per day, and businesses struggle to keep up with this ever-growing amount of information. How is it possible for entrepreneurs to efficiently and effectively gain insights, when new research literature, videos, tweets, blogs and documents are created every day? Not only are businesses frustrated by the time that they are wasting trying to gain visibility into their data, but because approximately 90% of the world’s data has been created in the last two years, companies are constantly trying to catch up with themselves.” – IBM, 2016¹

DATAVLT has been created with this very conundrum in mind.

 

Data Analytics is the Baseline to a future of super information overload

Regardless of industry, quality analysed data is one of the most important factors needed to drive effective business manoeuvers. The use of enterprise grade analysis is evident in many large organisations, both commercial and non, for example, government bodies, the medical and science industries, the financial industry, the cryptocurrency ecosystem, etc. More recently, the reliance on data can be seen used in Alibaba’s ambition in expanding its logistics network efforts, Barrack Obama’s presidential election efforts and hugely successful ICO efforts, just to name a few. The lean on data analytics transcends locations, working cultures, structures, etc., and it should not be a tool only privy to organisations with deep resources. With the continual evolvement of technology and related consumptions behaviours, the need for analysed data will only continue to grow. According to IBM, 2.5 exabytes – that’s 2.5 billion gigabytes (GB) – of data was generated every day in 2012² and a report published by CISCO³ has projected that mobile data traffic alone will increase sevenfold between 2016 and 2021 – at a CAGR of 46%, reaching 48.3 exabytes per month by 2021. This staggering volume will only grow with another building reality – it is not only enterprises, but nations that are pushing for the adoption of smart technologies into the everyday routines. CISCO has been monitoring this growth and below is a projection of M2M connections by industries:


View source: Global M2M connection growth by industries “…At the moment less than 0.5% of all data is ever analysed and used, just imagine the potential here.” – Forbes.com

It’s about addressing processing shortages and efficiency issues.

As early as 2013, companies across the globe have already felt the challenges of a more data driven work culture. The issues are not limited to the requirement for data-skilled workers but also the lack of tool flexibility, inefficient turnaround and a ‘make-do’ environment that is subjected to human errors. Therefore, DATAVLT has been created to be a part of the solutions available to all levels of enterprises. Supported by a secure chain and democratizing data to the needs of solutions designers and decision makers, the DATAVLT platform aims to provide both macro and micro baseline perspectives of business, brand and industry developments and performances, with a self-service, on-demand offering. Artificial intelligence will also be heavily adopted into the platform development, pushing from descriptive to predictive capabilities.

Self-service analytics is an approach to advanced analytics that allows business users to manipulate data to spot business opportunities, without requiring them to have a background in statistics or technology.

 

Enhanced security on Blockchain

The key factors that Blockchain can bring to DATAVLT is enhanced security due to the integrity of the technology and as well as data quality. Blockchain is a distributed database system that serves as an “open ledger” to record and manage transactions. Each record in the database is called a block and contains details like the transaction timestamp as well as a link to the previous block. This makes it impossible to alter information about the records retrospectively. Also, since the same transaction is recorded over multiple, distributed database systems, the technology is secure by design. Blockchain can potentially be integrated into systems and processes to address some of the current concerns from professionals in the field;

 


View source: Security professionals’ biggest sources of concern related to cyberattacks

Utility-based Ecosystem and Applications

DATAVLT will be launching its utility-token (DVT) that allows for both traditional currency and cryptocurrency-enabled purchasing of services. The valuation growth for the DATAVLT token is highly reliant on the data transactions that will occur during analytics processes and delivery.

Initial application developments will be in these areas:
• Augmented/Virtual Reality applied to real estate properties (pre- to mid-build stages)
• Business to brand management tools including monitoring and tracking modules
• Online and mobile gaming customer service analytics

Read the DATAVLT whitepaper for more details. Find out more here.