By Mark Masongsong, CEO & Co-Founder
UrbanLogiq is a data analytics software company that brings data from within government and the private sector into one common operating picture of a community. Building modern communities is a joint venture between government and the AECOO industry, so UrbanLogiq provides a data interface where data can be shared and acted upon for a cohesive, aligned vision for building communities.
Now, more data is being produced in a year than in previous human history, a trend which will only accelerate with the advent of the Internet of Things. This offers unprecedented opportunities for smarter, more accurate and reliable development planning, but only if the onslaught of data can be harnessed and made sense of. UrbanLogiq is helping governments and developers gain insights from big data and artificial intelligence, often replacing heuristic-driven models that don’t reflect the unique realities of local communities.
Previously data was produced and consumed within silos, either by a company for a project or a government for a study, simultaneously creating duplication of data collection while creating blind spots with incomplete data. UrbanLogiq takes data from all forms and sources, be it historical records in government databases, data from connected devices or private sector studies and combines it all in one shared view of a community. Dealing with the variety of formats and the enormous volume of data while having the proper safeguards for privacy, data ownership and cybersecurity is a challenge, as is turning raw data into meaningful insights. At the end, what matters is that we enable decisions to be made more accurately, faster and cheaper, and create discoveries that were unknown or not possible in the past.
While financing is growing in the AECOO space, it still lags both other countries and other industries in investment in the data and technology opportunity. What UrbanLogiq has been able to do is leverage the investment in near-proximity industries, such as telecom, connected vehicle, big data and artificial intelligence, and adapt those innovations to the use cases for the building community.