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1486 Labs is Paving the Way for Buyers and Managers of External Data

Andy Hannah, the President of Othot, a Liaison and Machine Learning Company and Adjunct Professor of Business Analytics and Entrepreneurship at the University of Pittsburgh has recently been named the Executive Director of 1486 Labs.


 

I am thrilled to be part of this exciting new venture. “1486 Labs” was created in 2021 and has been spearheaded by students from the University of Pittsburgh and the University of Michigan. Its mission is to bring structure to the immature, fragmented market for data. 1486’s first initiative is to surround the data buying community with content, experiences and services that will bring transparency to the quality, value, and choice of “purchased data” – i.e., external data.


Why external data? Well, over the past year, the team’s research noted the explosive growth in the use of external data but at the same time recognized the inefficiencies introduced by the complex nature of the market for data. These inefficiencies are like those that led to the formation of well-known centralized markets (think commodities, currencies, stocks, etc.). The team saw common themes in what caused these markets to centralize, the barriers that had to be overcome, etc. The predominant themes centered on transparency – especially related to price, quality, and choice.


Technology and digital communities are changing the way market participants interact and find the right product for their needs. I am excited because I believe 1486 Lab’s vision will lead to a dedicated community that will bring efficiency to a growing and important market for external data.


Please follow us at 1486 Labs and let us know how we can help!




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