Ventriks has recently announced its existence as “a self-service platform for data acquisition, integration and business intelligence, without compromise.”
Led by veteran commodities data management software expert, Richard Quigley, I noticed a somewhat informal announcement last week on LinkedIn and reached out to Richard for an update. At the moment, Ventriks has a handful of Beta customers on the platform, Richard told me, with a number of big announcements coming on the data side where it will have over 2 million datasets available very shortly; the Ventriks Marketplace offers premium and free data products from across the globe and across hundreds of data categories.
For Richard, it is all about data and how to have the data in the right shape and the right place to use to inform business. He told me that for many, data management is 80% playing with data, validating it, sorting it and preparing it and only 20% actually using it. It is this that Ventriks expects to change allowing users to use data for added value faster and more easily, he told me. “We want our users to take control of their data.”
The Ventriks Data Platform is cloud-native, built for data teams by data teams for data sourcing, integration, data management, analysis, and predictive insights. As Richard told me, Ventriks is made up of data experts who have specialist expertise in time series data. The platform even allows users to work with internal data sources behind the firewall using what he termed federated requests so that users can have a holistic view of data and work with it easily and with confidence. There is no doubt that data management remains a key focus for many businesses in the commodities sector. We commonly hear of firms struggling to access and use the key data that is locked away in their CTRM and other solutions using tools like Python, R, Power BI etc.
While Ventriks is very much in its infancy as a company, we do expect it to gain traction as a start up with a cloud native solution. We will be following its progress in the coming months.
