At Narrative I/O, our mission is to maximize the value of data for our customers. It has often been said that data is the new currency and there is a lot of truth in that statement. Unfortunately, extracting the value of the data and therefore maximizing that currency is often easier said than done. At Narrative we strive to build products that make that value extraction easier for our customers. While the ways we do that will evolve over time there are some core principles that will remain the same.
- Eliminate Complexities: Increasing amounts of data produced with little structure. While unstructured data allows for richer data sets it makes it harder to use by the business because it lacks that structure. Our goal should be to minimize the complexities that come with large unstructured data sets without losing any of its value in the process.
- Standardization: One challenge in the data economy is that there are little in way of standards. From format, to licensing, to delivery mechanisms everything is custom across different partners, products, and platforms. We believe that standards will bring more users to any data application.
- Discovery and Forecasting: It is our belief that there are a number of different types of data consumers (analysts, data scientists, product developers, etc) and that those consumers often are in search of data sets but with no easy way to discover them. A core part of our offering will make it easier for people to procure data on demand based on their evolving needs.
- Pricing: While data might be the new currency, no efficient pricing mechanism exists for data. We firmly believe that the market should determine what data is worth and we are committed to building products and features that help develop that market.
How we do it
To realize this mission, we are building a data streaming marketplace that makes it easy to buy, sell and win.
We do this by creating tools that reduce the friction and increase transparency in the data buying process, creating a win-win relationship between buyers and sellers.
There are currently two ways data is transacted in the industry:
- Via individual point to point integrations, which carries a lot of overhead in both business development and technical integration efforts.
- Via big data aggregators that introduce opacity in the pricing and provenance of the data.
We aim to combine the best of these two approaches: make it both effortless and transparent to transact data.
Our product currently focuses on the adtech niche, and we are building on this success to make it possible to transact any other kinds of data.
You can check our website.