The Munich-based big data startup Datanizing aims to make even unmanageable amounts of text easily understandable for people with its smart text analysis tool. Founding team consisting of Steffi Fischer and Christian Winkler, Human with artificial intelligence (AI). In this interview, the two discuss how the startup finances itself, which niche the founders focus on, and who prefers going to the beer garden.
1. Who are you and what do you do?
We — Steffi (34, business administration) and Christian (49, doctor of physics) — founded Datanizing in 2017. Before that, we worked together for many years on text analysis consulting projects. We often saw how inefficient employees in companies can be when dealing with large amounts of text.
In some projects, we found a solution and developed custom software that automated the relevant processes. However, this wasn't entirely satisfactory, as we were unable to achieve standardization.
With Datanizing we are now developing standardized tools and technologiesthat make huge amounts of text easily understandable for humans. To achieve this, we implemented the automated text analysis pipeline called Nize and integrated the latest machine learning algorithms into it, such as semantic embeddings and natural language processing.
2. But that's been around for a long time!
At our company, text analytics meets two very specific use cases. Our niche areas are data-driven market research and the automated analysis of requirements documents. We develop two software products specifically for this purpose: Nize Research and Nize Requirements.
“Our algorithms automatically identify personas”
Both market research and the way companies handle their vast mountains of specifications are still in the early stages of automation. Artificial intelligence is still used by very few in these areas. Together with our innovative partner companies who have already discovered this technology for themselves, we are doing pioneering work.
3. What are the three main ingredients for your recipe for success?
For us, the added value for our customers is our top priority:
- Our algorithms make employees more efficient by relieving them of tedious, routine tasks related to text — for example, automated news pre-selection.
- Our software also enables our partner companies to create entirely new products. For example, our algorithms automatically identify personas from user-generated content. This allows market research to make recommendations on user needs and target markets within just a few days—and proactively inform their customers when the market changes.
- When working together, it's important to us that not only the algorithm learns, but also that the people involved gain a better understanding of artificial intelligence, its possibilities and limitations. We combine human intelligence with artificial intelligence—and everyone benefits.
Bootstrapped and cash flow positive
4. Let’s get down to business: How is business going?
We are cash flow positive. We generate revenue from our existing customers who use our text analytics services and continuously develop them with us.
Since 2019 we have been part of Startup Autobahn and our technology development is supported by the BayTOU funding from the Bavarian State supports (Editor's note: A Bavarian funding program for technology-oriented start-ups).
5. What does Munich mean to you?
We build B2B software. Munich and the surrounding area are a good location for this. The startup scene is tech-focused and well-connected across regional borders. And a dip in the Eisbach is always good for clearing your head.
6. Will your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
"If you want to go fast, go alone. If you want to go far, go together,"
As the saying goes, we are the ones who want to go far.
Datanizing: “We want to free people’s minds from annoying routine tasks”
To achieve this, we rely on strong partners who work with us to develop smart AI-based solutions that automatically generate insights from large volumes of text. We want to free as many people's minds as possible from tedious, routine tasks and help create new creative jobs with the help of automated text analysis.
7. Hiking or beer garden?
Steffi: Hiking, many hours, high up and with good company.
Christian: Hiking during the day, preferably in the mountains. In the evening, I prefer to go to a beer garden.
