One of the biggest buzzwords in venture capital and startup circles is the concept of big data. Big data is all about the data aggregation of the activities of a lot of people and big trends and converting that into information that businesses can use. Big data is obviously quite expensive since it pulls a lot of data from all sorts of sources and feeds this to sophisticated software models.
Big data makes a lot of sense if you run a research company and you’re selling white papers, position papers and customized data for business plans. Big data is great if you’re a bank or investment firm looking to make key decisions. With that said, big data seem limited to certain key players and industries. In terms of consumer interaction with this data, it’s probably through a secondary source once it has been filtered and picked over.
Despite all the hype and buzz about big data, there is quite a bit of opportunity in going the other way- small data. In other words, by looking for specific data, changes across specific sets of people, institutions and companies, businesses can make informed decisions. This is the thesis behind the startup TaDaweb.
TaDaweb helps businesses get information from data feeds and present it in a very easy to understand format. The great value proposition for TaDaweb is it is able to help consumers and small businesses do this data presentation without any technical scales or knowing a line of code. For example, if you run a small business and you need to keep tabs on your competition’s changing prices, you can use TaDaweb to get data feeds and organize those on your competition’s prices. This is a great data monitoring product for certain companies and types of consumers. There is definitely a market for it and it’s interesting to see startups target small data instead of getting all caught up in the big data hype.