Despite the challenges caused by the COVID-19 pandemic and increasing economic uncertainty, new startups are founded every day. To introduce you to 5 recently founded advanced analytics startups, we analyzed 2.129 startups in the field. All of them develop innovative solutions spanning from predictive maintenance to process optimization solutions.
The 5 promising advanced analytics startups you should watch in 2021 were hand-picked based on our data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. The 2.129 companies that were analyzed for this report are identified using the StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally. When you are looking for up-to-date data solutions for your innovation units, R&D, or product development department, the StartUs Insights Discovery Platform gives you the most exhaustive collection and ensures you continuously discover new startups, scaleups, and technologies.
Global Startup Heat Map: 5 Advanced Analytics Startups to Watch
The Global Startup Heat Map below highlights 5 advanced analytics startups, developing technology-driven solutions for different industries. Moreover, you can explore global hotspots for advanced data analytics startups and even download this graphic to include in your next presentation.
Stargazr quantifies Consumer Sentiment
Advanced analytics use unstructured user-data from public platforms, like social media, to derive insights into consumer demographics and sentiment. Analytics opens up broader ways to understand a company’s target audience through different data analytics methods such as descriptive, diagnostic, predictive, and prescriptive models. This knowledge is vital for organizations to understand customer demands as well as to address product concerns and boost sales.
Stargazr is a German startup that develops advanced analytics solutions for finance teams to understand markets and forecast demands. The startup features a value driver model, as well as sentiment and predictive analytics, to formulate probable market events. Stargazr’s sentiment analytics platform mines user-data from social platforms to provide insights into the target audience. Further, the users’ opinions on different products and suppliers facilitate accurate forecasts with machine learning techniques. These solutions help companies understand customer preferences and optimize product sales.
Revelis develops Predictive Maintenance Solutions
Predictive maintenance overcomes the limits of traditional preventive and reactive maintenance practices, including high-costs and machine failures. Advanced analytics techniques detect the degradation of production processes and plan maintenance schedules accordingly. The technology further improves failure prediction and detection as it relies on data points from the industrial machinery. To further advance this trend, startups develop efficient algorithms and workflows to better understand processes that optimize the industrial system overall.
Revelis is an Italian startup that creates predictive maintenance solutions for applications such as industrial plants, photovoltaics, and wind farms. The startup deploys the Internet of Things (IoT), big data, artificial intelligence, and automated reasoning to predict the maintenance needs of a process or equipment. ReveliS’ solution reduces downtime and saves money on production and maintenance costs.
SolarAI’s Solutions identifies Solar Leads
Advanced analytics opens up unique ways to interpret data and gather insights. Data analytics using satellite imagery enables solar energy companies to find detailed information including elevation and terrain suitability. Analytics also opens larger applications in spatial statistics and geospatial analysis. Likewise, innovations in data analytics enable startups to create better analytical models to find promising information for industries such as energy and agriculture to improve productivity.
Singapore-based startup SolarAI deploys advanced analytical models to find leads for solar sales. The startup utilizes its proprietary data analytics platform to discover promising solar leads and improve scouting efficiency. SolarAI analyzes over 30 data points from the satellite data for each location to uncover valuable insights and generate potential leads. This approach helps solar developers and installers make informed decisions to find the right spots and screen them based on priority. SolarAI’s integrated analytics platform improves location scouting, saves time, and provides a competitive advantage.
SedimentIQ designs Process Optimization Solutions
Mining industries require timely management of resources and labor to deliver a higher return of investment (ROI). However, smaller mining operations require extended management and resource utilization to generate profits. And often, the production falls short of their projected goals, mainly due to irregular operation times and poor transport management. Therefore, startups develop machine utilization analytics to track and manage mining operations that improve productivity and address the limits within planning and execution.
Based in the US, SedimentIQ is a data analytics startup that creates tracking and management solutions for small mining operations. The startup utilizes smartphones and Bluetooth beacons to track real-time mining data such as equipment utilization and cycle times. SedimentIQ’s integrated analytics platform provides automated insights that the managers are able to monitor with their phones. The technology equips mine engineers and managers to find focused metrics for process optimization and to enhance productivity.
Bubo.AI develops Customer-Based Pricing
Big data and advanced analytics offer better insights into customer sentiments, which helps in product improvement thus further boosting sales. The technology finds application in both business-to-business (B2B) and business-to-customer (B2C) sales. Startups create solutions with data analytics to better understand the customer and how they perceive a given product, which further optimizes products and workflows.
Bubo.AI is a British startup that produces tailor-made solutions for customer-value based pricing. The startup uses advanced analytics to identify customer preferences and generate customized costs based on the collected data. This data-driven approach sheds light on the customers’ perception of the products, which helps predict and recommend the price they are willing to pay. The startup utilizes AI, machine learning, and cloud computing to deliver a dynamic price optimization strategy that, in turn, improves sales.
How will Advanced Analytics impact your company?
To stay ahead of the technology curve, it is important that you know which technologies and industry trends will impact your company. Explore our free Industry Innovation Reports or let us do the work for you. To keep you up-to-date on the latest technology and emerging solutions, we provide you with actionable innovation intelligence – quickly and exhaustively.