A project of this scale with millions of data points was something we knew that we wanted external expertise for. Partnering our Whisky knowledge and Brainnwave’s data expertise enabled us to develop a solution that we’re confident in that provides market-leading insight.
Brainnwave gave us confidence and clarity over the work being done and were focused on delivering the product we needed, with the features we wanted, at the pace required to meet our deadlines.
In the world of whisky, data and analysis can be as valuable as a fine single malt.
The first step of our adventure was to work with Noble & Co to approach auction houses and sites, and ask for permission to tap into their complex systems. From there we built our data gathering tools, ensuring that we could handle their data as responsibly as they handle their finest bottles.
To date, we’ve forged alliances with ten distinguished auction houses and sites, crafting unique data gathering tools for each. The next crucial step was to shape a data model as solid as an oak barrel, capable of storing and making sense of their business requirements for effective downstream analysis.
Data, like whisky, must go through a distillation process. Once collected, the data undergoes a meticulous preparation and cleaning process, purging erroneous entries and inaccurate details. Our bespoke data cleaning and augmentation pipeline fills missing data gaps and handles out any outliers that slip through the cracks.
To add an extra layer of refinement, we developed a fuzzy matching tool powered by natural language processing. This smart tool enabled us to cohesively link bottles to their respective groups and various cask types.
The result? A sophisticated whisky auction index developed in collaboration with Noble & Co. Based on a price-weighted index, this offers a reliable way to track the vibrant ebb and flow of the whisky auction market.
We set out to present our data in an engaging and interactive manner. Our answer was an interactive dashboard, a digital tasting if you will, that offers a deep dive into the wealth of data. Designed to exhibit an array of information, from broad market perspectives to breakdowns of whisky regions, distilleries, and individual bottles.
The dashboard enables users to filter the secondary whisky market database by a range of variables, allowing them to drive their own data discovery journey.
We would absolutely recommend working with Brainnwave, especially if the project requires complex data gathering or data analysis.
By the end of April 2023, our efforts had yielded a robust database for the secondary fine and rare whisky market, a digital collection of over 635,000 auction lots and 650,000 bottles.
Our interactive dashboard serves as a guiding light for Noble & Co, distillers and serious collectors, granting them the ability to carve out their own insights.
Moreover, we’ve offered direct access to our database for auction houses and distilleries, fostering a community of data-informed decisions.
Ongoing reports ensure that all stakeholders are kept up-to-date on the evolving state of the secondary whisky auction market.
