Project description
Novel software platform to let everyone benefit from Big Data
Even though Big Data is available to all, few have the knowledge to take advantage of its benefits, especially SMEs. The EU-funded MyKite project will develop a software platform to make information found on social media, websites, blogs, forums and news easy to digest for businesses and individuals who don’t have the necessary know-how. This information will be available via a user-friendly web dashboard with easy-to-read widgets and engaging videos. For a very competitive monthly fee, users will have at their disposal comprehensive insights into the sector at any time. The project will carry out commercial and technical feasibility studies to prepare the product for the market.
Objective
"Nowadays, everyone has access to big data, but just a few are able to collect, store, elaborate and interpret them. Indeed, ""you almost have to get a complete education in analytics to choose your first monitoring package. A lot of organisations want to get into the game and make themselves competitive with the big boys. But the learning curve is horrendous"", Scott Robinson, SharePoint and BI expert, stated. MyKite aim to shorten the distance between media big data (social media and web) analytics and SMEs as well as unskilled people, so reducing the probability to face unequal access to big data with big companies leading the market and non-specialised audience falling behind. It offers the possibility to gain insights on sector observatories through a user-friendly dashboard, with easy-to-read widgets and engaging videos, visually summarising the main findings as a story. Moreover, people may have whatever sector insights and whenever they want for a very competitive monthly fee. Finally, the product can potentially create a new stream of services of market trends video-storytelling approachable by anyone.
So, to go ahead of competition, we need to speed-up our development and commercialisation. Through this Phase 1 we want to explore different commercialisation and IP protection strategies and identify key partners for a consortium. At Phase 2, we aim to successfully bring MyKite to the market by integrating the predictive and visual analytics algorithms and the video storytelling feature. We estimate a duration of 24 months and a funding requirement of ca. 850k EUR to reach a revenue of €16M in 2022.
Based on our market studies, we will initially focus on the Italian, European and North American markets, demonstrating a higher readiness to pay.
The capability and vision of the heterogeneous team to adapt to the new market challenges and to understand SMEs needs, and its knowledge in social media and web analytics are key features for the product success.
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Fields of science
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
37133 VERONA
Italy
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.