This Startup Is Creating A Real-Time Data Map Of The Global Economy. BlackRock And PayPal Are Buying It.

In order to do so, Enigma searched the Office of Management & Budget’s contingency plans for 109 federal departments. It also tapped FederalPay.org for average salaries and worker counts for 46 agencies. In all, it combed through 2,000 pages and 2 million spreadsheet rows of federal data to create the tracker. From idea to launch, the effort took three Enigma number crunchers a total of 36 hours.

Oudghiri and DaCosta’s journey into the field of data mining began after the financial crisis of 2008. DaCosta was doing graduate work in the cultural anthropology of data at the University of California, Irvine, while Oudghiri was managing renewable-energy projects for BCME Bank in Casablanca, Morocco. Both were curious about explaining the world in light of the global disruptions going on.

To date, Enigma has synthesized 100,000 data sets in more than 100 countries, organized intelligence on 30 million small businesses and accumulated 140 billion points of data on the U.S. population. It has, as well as all trials, patent filings and adverse events. If a hedge fund wants to know which restaurant chains are growing the fastest, Enigma can check FCC logs for radio licenses, which are required to open drive-through windows. Insurers use Enigma for risk assessment, and pharma companies query its data-crunching machines to improve drug safety.

Investor John Fogelsong of Glynn Capital thinks the startup could present a threat to legacy closed-system “big box” technology vendors like Oracle, IBM, SAS and SAP: “Each new data set Enigma ingests compounds the company’s ability to improve a customer’s business processes.”

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