Deriving insights from huge chunks of data has come on at quite apace in recent years, with projects able to detect everything from oil prices to terrorist threats by wading through big data.

An Oxford University spinout, called Mind Foundry (@MindFoundry), is deploying its advanced machine learning algorithms to solve the kind of problems that would traditionally require large teams of data scientists.

The company, which has recently raised £1.2 million in seed funding, has based its algorithms on the work of Professors Stephen Roberts and Michael Osborne, who lead machine learning research at Oxford’s Department of Engineering Science.

Stephen Roberts said: ‘We live in an era in which the success of organisations and advances in science and technology are increasingly reliant on the fast and accurate analysis of data. But driving these advances is a deluge of data which is outstripping the computational ability to process it, let alone act upon it. We live in an age of big data – but not necessarily big insight. Mind Foundry has the capability to turn this data into actionable insight.’

The machine learning techniques used by Mind Foundry have already been used by companies in sectors ranging from energy to financial services, with the researchers joined by experienced chief executive David Pool, who joins from data insight analytics company Ijento.

Michael Osborne said: ‘Mind Foundry will enable decision-making from insights generated while the data is being created. This will take organisations beyond business intelligence query tools towards predictive modelling. This is particularly applicable to real-time business recommendations, high-frequency trading, or warning of potential problems or maintenance requirements in industrial systems.’