World Data Lab: Company Profile

Background

Overview

World Data Lab (WDL) is a data science company specializing in providing granular demographic and consumer spending forecasts. Founded in 2016 by Homi Kharas and Wolfgang Fengler, both former World Bank economists, WDL aims to democratize data by making it universally interpretable and actionable. The company is headquartered in Vienna, Austria, with additional offices in Washington, D.C., USA, and Nairobi, Kenya.

Mission and Vision

WDL's mission is to empower organizations and individuals to make data-driven decisions by providing the most credible, accurate, and consistent forecasts across demographics, countries, cities, and generations up to 2035 and beyond. Their vision is to make everyone count by offering insights that drive positive change and sustainable development.

Primary Area of Focus

WDL focuses on data analytics, offering data-as-a-service (DaaS) solutions that model and forecast consumer trends, category spending, demographic shifts, and urbanization patterns. Their flagship product, World Data Pro, provides detailed insights into global consumer behavior, enabling businesses to make informed strategic decisions.

Industry Significance

Operating within the market research and data analytics industry, WDL has established itself as a significant player by offering unique tools that track the United Nations' Sustainable Development Goals (SDGs) in real-time. Their work has been featured by leading media outlets such as Bloomberg, The Economist, and The Wall Street Journal, underscoring their impact and credibility in the field.

Key Strategic Focus

Core Objectives

Data Democratization: Making complex global datasets accessible and understandable to a broad audience.

Sustainable Development Tracking: Monitoring progress toward achieving the SDGs through real-time data.

Global Expansion: Extending their reach to new markets and industries to broaden their impact.

Specific Areas of Specialization

Consumer Behavior Analysis: Providing insights into spending patterns and demographic trends.

SDG Monitoring: Developing tools that track and forecast progress on SDGs like poverty, hunger, and water scarcity.

Urbanization Studies: Analyzing population distribution and urban growth dynamics.

Key Technologies Utilized

Advanced Data Science Methodologies: Employing state-of-the-art techniques to model and forecast data.

Proprietary Data Models: Utilizing unique models that have been peer-reviewed and published in Nature.

Real-Time Data Processing: Implementing systems that provide up-to-date insights into global trends.

Primary Markets or Conditions Targeted

Global Corporations: Offering data solutions to multinational companies for strategic planning.

Non-Governmental Organizations (NGOs): Providing data to support development projects and policy-making.

Government Agencies: Assisting in monitoring and achieving SDGs through data-driven insights.

Financials and Funding

Funding History

Series A Funding: In March 2023, WDL secured a multi-million Series A investment led by Sparring Capital Partners, with participation from CHI Impact Capital and Catagonia Capital. This funding is intended to accelerate global growth and expand their data analytics capabilities.

Grant Funding: In January 2021, WDL received a grant of $193,000 from the Patrick J. McGovern Foundation to support their data-driven initiatives.

Total Funds Raised

While specific figures for total funds raised are not publicly disclosed, the Series A funding round and grant indicate significant financial backing to support WDL's expansion and development efforts.

Notable Investors

Sparring Capital Partners: A Vienna-based investment firm specializing in data and technology companies.

CHI Impact Capital: An investment advisor for the Luxembourg-based Burning Issues Impact Fund, focusing on impactful investments.

Catagonia Capital: A Berlin-based investment firm supporting innovative data-driven companies.

Intended Utilization of Capital

The funds are allocated towards scaling up operations, enhancing data analytics capabilities, expanding into new markets, and developing additional tools to track SDGs in real-time.

Pipeline Development

Key Pipeline Candidates

World Data Pro: An advanced consumer insights and analytics platform offering detailed forecasts on population trends and purchasing powers.

SDG Clocks: Real-time tracking tools for various SDGs, including the World Poverty Clock and Water Scarcity Clock.

Stages of Development

World Data Pro: Fully developed and operational, serving as the primary product for corporate clients.

SDG Clocks: Ongoing development with continuous updates to enhance accuracy and coverage.

Target Conditions

Consumer Behavior: Analyzing spending patterns and demographic shifts.

Sustainable Development Goals: Monitoring progress on goals like poverty eradication, hunger reduction, and water scarcity.

Relevant Timelines for Anticipated Milestones

World Data Pro: Continual updates with projections up to 2035 and beyond.

SDG Clocks: Regular updates to reflect real-time data and trends.

Technological Platform and Innovation

Proprietary Technologies

Advanced Data Models: Unique models that have been peer-reviewed and published in Nature, providing credible and accurate forecasts.

Real-Time Data Processing Systems: Infrastructure that allows for up-to-date tracking of global trends and SDGs.

Significant Scientific Methods

Data Science Methodologies: Utilizing state-of-the-art techniques to model and forecast data.

SDG Tracking Tools: Developing tools that monitor and forecast progress on SDGs like poverty, hunger, and water scarcity.

Leadership Team

Key Executive Profiles

Wolfgang Fengler: Co-Founder and Chief Executive Officer. With over 20 years of international experience, Dr. Fengler leads WDL's strategic direction and expansion efforts.

Homi Kharas: Co-Founder and Chief Economist. Dr. Kharas focuses on policies and trends influencing developing countries, including aid to poor countries and global governance.

Luis Simoes: Chief Revenue Officer. With over 25 years of experience in data and professional services, Mr. Simoes has worked for Nielsen and Kantar, serving as global strategy officer and most recently Global Chief Strategy & Transformation Officer.

Prof. Patrick McSharry: Chief Analytics and Technology Officer. Prof. McSharry's research focuses on artificial intelligence, machine learning, data science, big data, forecasting, predictive analytics, and the analysis of human behavior.

Andreas Lichtl: Vice President of Finance, HR & Legal. Mr. Lichtl possesses a comprehensive financial background and has been instrumental in the success of the Series A funding round.

Competitor Profile

Market Insights and Dynamics

The market for data analytics and market research is experiencing significant growth, driven by the increasing need for data-driven decision-making across industries. Companies are seeking advanced tools to understand consumer behavior, track economic trends, and monitor progress on global initiatives like the SDGs.

Competitor Analysis

Fraunhofer Austria: A research organization offering data analytics services with an estimated revenue of $13.5 million and 132 employees.

Institute for Advanced Studies (IHS): Provides economic and social research with an estimated revenue of $4.8 million and 52 employees.

BONARD: Specializes in market research and consulting with an estimated revenue of $9.6 million and 94 employees.

Strategic Collaborations and Partnerships

WDL has established partnerships with organizations such as the European Space Agency (ESA), the German Corporation for International Cooperation (GIZ), and the International Fund for Agricultural Development (IFAD). These collaborations support projects like the Age Spot, World Poverty Clock, and World Hunger Clock, respectively.

Operational Insights

WDL differentiates itself through its focus on real-time tracking of SDGs, providing actionable insights that support global development initiatives.

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