Former Bank of America executive, MIT Media Lab Executive in Residence, and big data pioneer Abhi Metha announced the launch of Tresata, his latest venture, on SiliconAngle.TV Tuesday, February 2. Metha cofounded Tresata to develop a tool set and framework for building “data factories” to extract the business value from big data databases.

“We see a unique opportunity for tooling the next industrial revolution,” he says. He envisions vertical “data production lines” that will process data rather than traditional raw materials to find answers that will guide the better business decisions of the future.

“We think that the technology has reached its inflection point,” he argues. “There is immense value waiting to be unleashed as clouds emerge. It will be better, faster, cheaper: better because you can solve problems you could not solve before, faster because you can handle data at scale rather than working with a sample or subset, and cheaper because it will be built on open source and commoditized hardware and software.”

This, he says, is the future, and Tresata will create the tools on top of that open source software and commoditized hardware from which financial services companies will be able to build the data assembly lines they need to extract the valuable information hidden in the big data databases.

Tresata is targeting the financial services industry in part because business leaders in that sector already recognize the potential to derive great value from advanced analysis of big data, and that it contains some very advanced thinkers who want to make that leap to define the future. Also, he says, “the alternatives are not attractive.

“Can it be done? Absolutely! Can it be done in this country, Absolutely! And we want to be the leaders.”