Big Data Could Generate Big Attention for Jr. Services Outfit
The data collection industry and subsequent analytical tools are a growing force in today’s digital community. The New York Times recently ran an article discussing the "Age of Big Data," promulgating the powers and multitude of uses.
Companies of all varieties are using data to maximize efficiencies and target sources. The Initial Public Offering of Bazaarvoice, a provider of data collection and feedback, that is slated for this week, already has investors buzzing as the company has many clients, including the likes of Procter & Gamble, Microsoft and Dominoes, fueling nearly $100 million in revenue in the last 12 months.
WANTED Technologies (TSX-Venture:WAN), a Quebec City-based company with an office through its U.S.-based subsidiary in New York City, provides real-time business intelligence for the talent marketplace. The data collector feeds its clients in Human Resources, staffing, Recruitment Process Outsourcing, media, and government sectors through the use WANTED Analytics™ to source hard-to-fill positions, gather competitive intelligence, analyze employment trends, forecast economic conditions, and gather sales leads.
The unique company is also the exclusive data provider for The Conference Board’s Help-Wanted OnLine Data Series™, the monthly economic indicator of Hiring Demand in the United States.
Well ahead of the curve of many data miners, WANTED has been collecting detailed Hiring Demand data for just shy of a decade and currently maintains a database of more than 600 million unique job listings. In a press release Tuesday disclosing its second-quarter 2012 results from operations, the company said that it gained nearly 1,000 new client seats in the Corporate and Staffing sector, driven by new distribution partnerships and introductory offers to better showcase their offerings.
The latest financial results also showed quarter-over-quarter revenue growth for the sixth time in a row. Revenue grew to $1,382,921 in Q2 2012, mildly topping $1,320,055 for the first quarter 2012 and also inching ahead of the $1,378,840 from Q2 2011. Annualized recurring revenue expanded by 15% to $5.4 million for the period ended December 31, 2011 as compared to the year prior period of $4.7 million.
The Company, which has been investing in product development over the past 12 months as part of its new entry into the Corporate Human Capital Management sector, narrowed its net loss to $94,121 from $102,807 in the second quarter of fiscal 2011, according to Tuesday’s report.
The numbers are showing growth, but what makes WANTED particularly appealing for a closer look is its sector. Investors are always scouring for "the next great thing" and trying to predict trend shifts which will reap rewards. Big Data could be the answer. As social media and the digital world continue to expand, corporations are looking to harvest the data for analysis of trends to capitalize on consumer and business shifts at the earliest point.
WANTED still trades at a low price point of 22 cents and a market capitalization of $5.28 million. With its connections at The Conference Board helping with diversification and deep roots in the analytics space, the company could be one that investors are turning more attention towards in the near future. Proper due diligence is encouraged.
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