Periodic Reporting for period 1 - MyKite (Fly with Big Data)
Período documentado: 2019-02-01 hasta 2019-07-31
MyKite (H2020-SMEInst-2018-2020-1, project no. 854157) is a platform designed to shorten the distance between Big Data media (social media, websites, blogs, forums, news) analytics and SMEs, as well as freelancers, professionals and people who lack data science skills. MyKite offers the possibility to gain insights on different sectors through observatories in a user-friendly dashboard, with easy-to-read widgets and engaging videos, visually summarizing the main findings as a story. Users will be able to access any sector insights at any time, for a very competitive monthly fee.
During the feasibility study we investigated the possibility and opportunity to defend the product in the European and US market and the freedom to operate.
For the market feasibility study, we conducted an in-depth analysis to better identify the total addressable market, by carefully reading official Eurostat and OECD data on SMEs and understanding, out of these, which could be the share of potential customers. Through this study we also analysed competitors with similar or complementary products, starting from a wide analysis of the software review websites, and finding that the highlights on cross-sector technology and the specific features of data accessibility are not carefully developed by these.
For the commercial feasibility study, we analysed the prices proposed by our competitors to understand the customers’ willingness to pay. This led us to define a better pricing plan.
For the financial feasibility study, we updated our revenue growth, adjusting it according to the number of potential customers and the new pricing, and developing it over the next five years.
During the technical feasibility study, we identified the list of business sectors to be proposed to our customers, starting from leading consulting companies’ operations. We also developed a procedure for the study of images associated to sectors, in order to provide insights hidden in the visual communication and initiated the activities to improve the platform user interface and experience. Finally, we organized meetings with potential partners, aiming to define collaborations for the application of advanced technologies in the platform navigation and information provided.
For the market feasibility study, we conducted an in-depth analysis to better identify the total addressable market, by carefully reading official Eurostat and OECD data on SMEs and understanding, out of these, which could be the share of potential customers. Through this study we also analysed competitors with similar or complementary products, starting from a wide analysis of the software review websites, and finding that the highlights on cross-sector technology and the specific features of data accessibility are not carefully developed by these.
For the commercial feasibility study, we analysed the prices proposed by our competitors to understand the customers’ willingness to pay. This led us to define a better pricing plan.
For the financial feasibility study, we updated our revenue growth, adjusting it according to the number of potential customers and the new pricing, and developing it over the next five years.
During the technical feasibility study, we identified the list of business sectors to be proposed to our customers, starting from leading consulting companies’ operations. We also developed a procedure for the study of images associated to sectors, in order to provide insights hidden in the visual communication and initiated the activities to improve the platform user interface and experience. Finally, we organized meetings with potential partners, aiming to define collaborations for the application of advanced technologies in the platform navigation and information provided.
The project follows the EU’s priority towards data democracy across organizations, where “data democratization is to allow non-specialists to be able to gather and analyse data without requiring outside help” (Margaret Rouse, TechTarget.com).