NeighborWorks Umpqua introduced a new data analysis business on Friday to help non profit organizations and small businesses.
Muninn Analytics is joining the list of social enterprises owned by the organization, including Heartwood ReSources.
Named after the raven in gathered information for Odin, Muninn provides business metrics, statistical analysis and interpretation, text analytics and natural language processing, web scraping and data extraction among other services.
CEO for NeighborWorks Umpqua Merten Bangemann-Johnson said the business will help organizations that have decades of valuable data left unused in its paper format and use it to help accomplish their missions more effectively.
“The problem is the time and resources spent on such an endeavor would be cost-prohibitive,” Bangemann-Johnson said in a press release. “When we thought about the struggles we faced with data and analytics and trying to learn from our historic data, we started reaching out to other, like-minded organizations and discovered an inherent need for this service.”
In an effort to provide a service in line with the vision of the rural-focused housing and community development nonprofit, the organization brought on data analyst Mark Plane.
“I’m excited to bring my expertise and passion for the field to an entirely underserved demographic,” Plane said in a press release. “Data has incredible potential. It can not only tell a story about one’s past, but it can create a roadmap for an organization’s future! You can take the lessons learned from your data and turn them into lasting, effective change.”
Seventy-eight percent of non-profit organizations with access to data analytics reported higher effectiveness according to a recent IBM study.
“Muninn Analytics is our attempt at leveling the playing field in the Big Data field by creating a data analytics company that utilizes a sliding scale rate for services,” NeighborWorks communication specialist Nick Noyes said in an email. “Everyone should have access to these tools at a price they can afford.”
Noyes said it will be available for any small business or nonprofit organization in the state of Oregon. Plane is the main consultant and the person interested parties should contact for more information.
“Everyone deserves the opportunity to learn from their data,” Plane said. “With Muninn Analytics, you will finally be able to afford the leap into becoming a data-driven organization.”