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Repux - A Marketplace For Selling Anonymous Data
Businesses are generating large amounts of data every day that sits unused. Many developers could take advantage of using this data to help with machine learning. Repux is going to create a new marketplace for medium and small sized businesses to sell this anonymous data that is otherwise going to waste. A business will have the option to earn Repux tokens in exchange for selling data. The developers are buying this data to help with the training of algorithms that use machine learning. Then, the developers can create applications which they then sell back to businesses. Transactions within the marketplace will only use the Repux token.
Repux has a working product already and there are three companies testing the platform. They are FungyuCPA, WorkHQ, and Dascom. Here is an example of how this data and platform can be used. A merchant selling products on Amazon might use Repux data analysis to conclude the best time to send a follow up email with coupon offerings. By using aggregated Repux data, the machine learning model determines when the most effective time would be. The merchant then benefits from increased sales from the follow up emails and offers.
While some larger companies are now taking advantage of machine learning data analysis, most smaller companies do not have the resources to do so. This is why the Repux marketplace could be so beneficial to small to medium sized businesses. It will allow them access at an affordable price to data and expertise that would otherwise be unavailable. While not all data generated from a business is useful, Repux has also developed a reputation and rating system to resolve the issue of what data is helpful. The technology of Repux has the ability to change the way small businesses work. It is an excellent step towards the future development and profitability of small businesses. There is more information to read at the links in the list below.
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