Big Data Analysis Identifies Entrepreneurs

Posted in Databases

young surprised businessman holding money

A venture capital company identifies entrepreneurs and offers them funding even before the entrepreneurs know they are entrepreneurs!

Imagine you are sitting on your front porch when a dump truck rolls up. It backs into your driveway and dumps a mountain of $100 bills onto it. Then the driver walks up to you and says, “The venture capital fund Bloomberg Beta has determined from data analysis that if you start a tech company, it’ll be a blast. Here’s $5 million to get it started.”

This isn’t a daydream, folks, it’s really happening. Bloomberg use data analysis technologies for mining tweets and information on Twitter, Facebook and LinkedIn to identify 1.5 million professionals connected with technology and startups. Then they selected those who:

  • Lived in the Bay Area or New York
  • Had worked at a startup
  • Had studied at a top university
  • Had worked in technology or business management

These filters threw up 350 individuals most likely to succeed if they started a tech venture. Bloomberg got in touch with them and started sending out the dump trucks mentioned earlier (well, sort of).

Wait a minute… is that a truck backing into your driveway?

Would you like to examine data to find the treasure in it? Look no further, message us here, NOW!

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Lucky Balaraman

Executive Director, The Magnum Group

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