The 15 in Arctic15 stands for 15 finalists of the pitching competition. We will introduce them all over coming days in reverse alphabetical order. This is the second of the 15 articles.
Streamr is a cloud-based platform for easy automation of any kind of real-time streaming data. The team’s background is in algorithmic trading, combining a unique set of skills from deep technical ability to proven PhD-level algorithmic modelling.
The Finance sector has already been utilising real-time data processing models over several decades. Now there is an explosive need for the same kind of real-time data processing systems in other sectors (e.g. IoT). A lot of value can be created by reacting to data as it’s happening.
A potential developer of any real-time data app faces a challenging task as they would need to build a robust and scalable streaming back-end, find and integrate all the data sources they might need, create and test the right algorithms, and build all the controls and streams needed to actually power the app.
To solve this pain of lost time and lost resources Streamr provides a ready-to-use, tested and fully scalable service for real-time app creation. The service contains “all the data in the world” that is readily available and provides an effortless way to integrate your own proprietary data, combined with easy-to-use tools to operate the data – i.e. total framework real-time data to powering user-generated apps and services.
Streamr runs on Amazon, which means adding scale is not a production cost issue but merely a marketing play. The business model scales alongside with growing user numbers – a minimum platform fee added with (variable) data throughput volume fee, while third parties can also sell their data or algorithms.