How to find business-specific information among millions of pieces of data from different sources? And then how must one check, read, compile, and aggregate these into a readable format, and all this in real-time? Vojtech Seman, the CEO of Luxembourg-based startup Rejustify has the answer to this.
Photo: Rejustify serves around 100 individual European university researchers / Credits © Shutterstock
Luxembourg-based startup Rejustify has developed apps that help university, banks, and industries to aggregate, structure, and analyze high volumes of information.
When the Czech-born economist joined the European Investment Bank in 2012 to build tools that digitalize and rationalize databases, he realized how organizations were struggling with searching and finding the relevant information they needed for their strategic decisions.
“During this period, I noticed how time-consuming it was for organisations to search, extract, compare, and format huge amounts of data, before preparing a final report that could be readable,” Seman recalls. “And as those processes were usually operated manually, the risk of information inaccuracies remained very high.”
In May 2019, Seman and a colleague at the European Investment Fund decided to launch a company that would do the whole job automatically, and in a safer and more time-effective way for researchers, data scientists, and financial analysts, from financial institutions, industries (automotive), and other data providers.
Via an application programming interface, Rejustify’s solution extracts, aggregates, and analyses data from multiple sources and then feeds these into the data templates of its clients based on pre-defined criteria. The solution includes services such as dataset structuration and life dashboard development.
The startup uses technologies such as artificial intelligence and ETL and an IT process that extracts, transforms, and loads data from different sources, before formatting them into tables or graphs.
“Thanks to AI, our tool learns how data communicates with our engine and how they are fed into the end-user’s data template. This might help to improve the accuracy of the different data sources and the data matching the client’s criteria,” the CEO explained.
To provide the data, Rejustify partners with DBnomics, a free platform that aggregates publicly available economic resources and offers data visualization resources. These are provided by around 75 national and international statistical institutions, as well as researchers and private companies.
Next Targets: China, India, Pakistan, Nepal
The startup has also set up its own virtual cloud repository of data that is difficult to access or is available only on per pay access.
Clients can use its service package via three different channels: Google Sheets’ web-based spreadsheet program; R, a programming language and free software environment for statistical computing and graphics, used by data scientists and industry practitioners; and Python, a programming language that can be used in many contexts and adapt to any type of use.
Rejustify’s library also includes apps that show monthly exchange rates between the euro and Polish zloty over the last 12 months, or provide daily Covid statistics, as well as weekly Covid map updates in the EU + UK countries.
Today, the team of two economists and a marketing expert serve around 100 individual European university researchers, mainly in the field of Economics, and operates as a data aggregator for Charles University in Prague.
The company is now developing a sales team worldwide, with the aim of tackling markets such as China, India, Pakistan, Nepal, Brazil, or Argentina, where Seman sees a growing need from local data scientists and university researchers for big data analysis, aggregation, and structuring.