With a large (virtual) research case full of universally applicable data science tools and methods, OmegaLambdaTec on behalf of companies, cities and institutions in the search for usable data treasures and new smart data-driven business models.
The digital data world is becoming larger, faster, and more complex every day at a breathtaking pace, opening up unimagined new possibilities and potential for the usability and utilization of this data. The potential added value for companies, cities, and institutions is enormous, but in this country, it is still far too rarely utilized to its full potential.
Whether new data-driven services and business models, the data-driven optimization of existing processes and products, or information advantages as a competitive advantage – there is hardly an industry that will not benefit from new smart data applications and analyses in the coming years.
The Smart Data Challenge
Smart data is the new buzzword in the digitalization landscape, emphasizing the usable added value of big data through the best combined analyses. However, good and well-founded smart data analyses require enormous know-how in methodological knowledge, scientific expertise, and, above all, extensive experience in handling and interpreting complex data sets.
It is precisely for this smart data challenge of the digital future that the data scientists around OmegaLambdaTecFounder and Managing Director Dr. Rene Fassbender brings up to 15 years of research experience to the startup, founded in 2015 at the Garching Technology and Startup Center. Thanks to many years of research into the big open questions of the universe, the team of scientists not only possesses data science expertise but also a unique global perspective on earthly data problems and the corresponding theoretical tools to model them mathematically correctly. This approach opens up entirely new data-driven approaches to solving classic everyday problems in a wide variety of industries.
New approaches to old problems
A classic question in a bank: How high is the default risk of a business customer's corporate loan? This is typically evaluated using a simple scoring system and the bank advisor's subjective personal impression.
OmegaLambdaTec is pursuing a completely new approach to quantitatively assessing default risk – completely reversing the assessment basis. Instead, it examines the question: What can be automatically determined about the individual future default risk of the applying company by evaluating the economic success factors and failures of all nearly four million companies in the commercial register?
Second example: A real estate fund is looking for the best locations for future high-yield, low-risk investments in new properties, which are traditionally made according to the motto "location is everything." To gain a deeper understanding of the market and predict future developments in local real estate prices and rents, the task now consists of characterizing and modeling the local micromarkets of various cities or neighborhoods in the context of a dynamic global background market using the wealth of available data.
OmegaLambdaTec draws its theoretical concepts and models for such a separate analysis of the influences on local micromarkets compared to global market dynamics directly from cosmology. This will enable traditional industries such as the real estate market to be placed on a completely new analytical and data-driven basis in the future.
Proven research methods for new smart business models
Another major data science application area for the OmegaLambdaTec GmbH is the automated processing and evaluation of complex measurement and sensor data, which for many companies form the basis for significant optimization of production processes or the creation of entirely new digital business areas.
For example, numerous energy suppliers want to offer new smart services based on measured, time-resolved load profiles of the total electricity consumption of a home or business. Once the challenging problem of disaggregating energy for individual devices from the total electricity consumption has been solved, an app can be used, for example, to display the currently switched-on devices or to break down the costs of individual consumers.
To solve the automated energy disaggregation problem, OmegaLambdaTec has developed new analysis algorithms that extract the temporal consumption signatures, for example of a refrigerator, from the total electricity consumption using the same method used to detect gravitational waves or distant cosmic objects.
The digital world, with its previously strictly separate industries, is increasingly converging due to the emerging flood of data and the underlying universal smart data methods. In the future, our electric car parked at home will contribute to grid stabilization through smart energy applications; we will navigate through the city using smart mobility, while on the move, the car's sensor packages will feed the new services of the smart city, and upon arrival at work, we will park at the smart factory.
Our world is becoming increasingly smarter and more efficient – the foundations for this are only made possible by precise and well-founded smart data analyses and applications.
This article was published in the current issue of gateWay. You can also find more exciting news about startups and the technology-oriented startup scene in the previous gateway issues, the magazine from the gate – Garching Technology and Startup Center GmbH.
