Big data continues to gain velocity for what companies can do with it. It is with good reason that the big data analytics market is growing at a 29.7% compound annual growth rate to $40.6 billion by 2023. Savvy companies are figuring out how to get into that game, using things like Artificial Intelligence and machine learning to get the most out of every statistic.
On its face, HeyBryan Media Inc. (CSE: HEY)(OTCQB: HEYBF) has developed a peer-to-peer marketplace application that connects home-maintenance experts with homeowners to get small projects completed, like painting, electrical repair and furniture assembly. It is an app completely aligned with today’s “gig” economy with the complete transaction happening – including scheduling, payment, chat, ratings and reviews – within the app. HGTV star Bryan Bryan Baeumler serves as the company’s namesake and face of the brand.
That alone is a compelling story as the company expands into different Canadian markets, including Calgary in December. The plan is to launch the app across Canada first, with future plans to potentially enter international markets, with the U.S. a natural first target.
However, a look under the hood tells a different story about the complete vision of founder and CEO Lance Montgomery.
“First and foremost, we have filled a void in the market between vetted and verified repair experts and homeowners. Furthermore, we have built the back-end infrastructure designed to collect data on repairs and projects in people’s homes,” said Montgomery in a phone conversation with Baystreet.ca. “We don’t know of anyone else employing this model and we believe that many companies will be interested in the data.”
In short, the HeyBryan app collects data on what homeowners need and can inform companies on how operate more efficiently. In a sense, it’s an Amazon.com (NASDAQ: AMZN)-type of model. By analyzing all the products bought through their platform, Amazon is able to best determine what consumers want and how much they’re willing to pay for it. Armed with that data, Amazon can decide which products that it wants to manufacture under their own brand.
Now, that’s not to say that HeyBryan is going into the manufacturing business, but appliance manufacturers, light makers, flooring companies and more in the $50 billion Canadian home maintenance market would be interested in the data.
The Canadian Securities Exchange has recognized that HeyBryan is a tech company, not just an app developer. This month, the CSE selected HeyBryan as the feature story in the latest issue of Public Entrepreneur Magazine published by the CSE. The article is an interview with Lance Montgomery, who gives insight as to the app’s creation, corporate business model and strategies to keep expanding in the marketplace economy.
"HeyBryan Media has its sights set on becoming to the home maintenance industry what Uber Technologies is to the general transportation industry – a genuine disruptor,” the article begins.
The coverage comes at an opportune time for HeyBryan, which joined the U.S. markets on January 21 and is soon releasing an enhanced version of its app, with significant internal, customer and expert facing improvements.
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