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Mind the Tech NY

“The internet is maybe the greatest database ever created”

At Calcalist’s Mind The Tech, Omri Orgad, Managing Director at Bright Data stresses the importance of alternative data

James Spiro | 10:19  23.11.2021

“We actually did a fascinating survey a few weeks back on alternative data, external information which… is information not published by the companies themselves, so not financial reports,” explained Omri Orgad, Managing Director at Bright Data. “We found that 95% of financial institutions surveyed are using external information to make business decisions. Only a quarter, 25%, are making business decisions every day using external information. That is the gap in the market we are trying to fill. We know there is a market, we know there is an adoption, but not everyone is still using it every day.”

Bright Data, which helps businesses make faster and more accurate decisions from publicly available data, wants to help the remaining 75% of enterprises tap into the online information that can be used by real estate companies, insurance brokers, and any other company that would benefit from online insights.

“In order to gather such an amount of information, the internet is maybe the greatest database ever created,” Orgad added.

You can watch the entire exchange in the video above.

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