One of the world’s leading sports trading advisory companies sees 346% increase in earnings by using advanced data-analytics and machine learning algorithms.
Processing and analysing billions of data points while developing and implementing machine learning algorithms- and data analytics solutions, helping LBP increase earnings.
“Halfspace is the best-in-class software developer for our business. As our go-to development partner, Halfspace has kept us ahead of the curve and the competition every step of the way.”
Dr. jur. Thomas Dillon
Managing Director, LBP
LBP, one of the world’s leading sports advisory trading companies, were looking to enhance their real-time analytics capabilities for their rapidly expanding business. As ever more data became available, management wanted to develop sophisticated state-of-the-art, deep-insight, data-driven decision making tools, to inform and enhance trader decisions beyond typical analytics tools.
The challenge was how to manage and effectively utilize their vast amounts of data which had been collected in many years, but not used properly due to lack in data-structure and analysing capabilities. LBP wanted to connect billions of data points from myriad data sources to find patterns and achieve deeper insights in their client-advisory team on potential market-development throughout market events.
Halfspace.io was approached by LBP to scope and develop a POC (Proof of Concept) of an initial real-time data-driven decision-making tool. Halfspace.io tackled this task by investigating and prioritizing data sources. Then cleansed and structured the data—culminating in an API compiling all data with lowest possible latency.
After delivering a successful POC, LBP and Halfspace entered into an agreement about developing a deep-insight data-driven decision making tool. The proprietary software tool has since been developed to include several machine learning algorithms and prediction models to better forecast the outcome of live football matches.
03The Key Takeaway
In a world where vast amounts of data are created every second, companies can achieve strategic advantages over their competitors by using the power of advanced data analytics. Whether it be to optimize business fields such as sales, logistics, resource management, predicting outcomes or forecast business operations.
By using advanced data analytics models, time-series predictions and machine learning algorithms based on billions of both historical and real-time data points to predict outcome of given events, LBP now has intelligent decision support tools to help them advice clients on future outcomes.