Not many scholars tend to launch a successful business, especially in a highly competitive environment offered by technology sector. Timetric’s cloud-based service was started by Andrew Walkingshaw, Toby White and Dan Wilson in Cambridge in the United Kingdom with Walkingshaw and White graduating in Cambridge while Dan Wilson received his PhD in computational chemistry from the Royal Institution of Great Britain in 2005.
The hosted service for managing and analyzing statistical data uses the Timetric Platform and was developed by the company’s co-founders during their work on computational physics research. Physical simulations require processing of large data volumes and the three scientists were writing software to manage such data, which led to the creation of Timetric Ltd and the website powered by the Timetric Platform.
Timetric managed to close its first round of seed funding in March 2010 after the company was named among the winners of London Mini Seedcamp 2009. Investors in Timetric include Stefan Glänzer who is executive chairman and founding investor of Last.fm, Alex Zubillaga, Sherry Coutu, a well-known serial entrepreneur and founder of Interactive Investor, Matteo Stefanel, and Sean Park and Udayan Goyal of Nauiokas Park.
Timetric provides cloud-based Data as a Service (DaaS) for websites and publications interested in presenting statistical data in various spheres. The service offers interactive and sharable graphs featuring interactive visualizations. Reputable publications like The Guardian, Financial Times, Citywire and This Is Money are among the customers using Timetric’s Chartroom.
The company can offer cost-effective solutions for its service is hosted in the cloud and publishers must not take care of aggregating and processing large data volumes to incorporate interactive pages containing statistics in their news services. Timetric’s Chartroom pages allow writers to reuse graphics and visualizations anywhere, enabling readers to share a Timetric Chartroom in a couple of clicks. The platform supports all major browsers and graphs are able to run on iPhone and iPad.
The company describes its Timetric Platform as a cloud-based, proprietary time series database, statistics aggregator, and visualization system. In addition, Timetric claims its team is able to build a customized service very quickly because the service is based on their own platform.
Cleverly enough, Timetric Benchmark is collecting data from public sources around the globe, which means the company is covering data sources like central banks, national statistical offices, etc. to provide analytical services based on statistical data. Taking a brief look at the number of such sources of statistical data worldwide shows that a platform aggregating data from public sources can be a very reliable source of information for hundreds and thousands of public data sources exist. When a software is able to collect all those data it becomes a powerful source of comparable information that can be of benefit to individuals and businesses alike. Providing data in real time and allowing users to securely share such data is just another advantage of Timetric.
The company claims that its service is not business intelligence or web analytics but a platform tracking, measuring and collecting all key metrics of an enterprise regardless of where the data originated. Timetric API allows business owners to create subscription services and manage access control, payment and delivery of data to customers.
Timetric graphing widget is based on Adobe Flash and supports major web browsers like Firefox, Chrome, Safari and IE 6 or later. The company’s product is built on top of open source software including Python, Django, jQuery, Postgres, and Tokyo Tyrant. Developers working for Timetric also created or contributed to the creation of a number of software products like Sunburnt, which is a Python-based interface for working with the Solr search engine. Other products include Raphlot – a port of Flot to use the Raphaël APIs and Appengine-mailer, which is a limited RFC2822-over-HTTP proxy for running in Google App Engine. As3xls is a library for reading Excel files from Actionscript 3 and is extremely useful when the matter in hand is reading statistical data.
The future looks bright for Timetric for today’s world relies and depends on information and data to an unimaginable extent. At present, the company is not running a multibillion business but one could hardly find any reasons for Timetric not to monetize its know-how and become a leading DaaS cloud service provider. Moreover, it is encouraging to witness the growth of a company founded by scholars that are taking advantage of ever growing market for data while offering a cloud solution that is very cost effective. Thomas Edison is a good example of this type of inventor and entrepreneur and despite that Timetric co-founders did not invent the electric bulb, which changed the way of living of mankind, they are offering a promising knowledge-based cloud service that obviously bears great potential.
By Kiril Kirilov