There is no question that all sectors are crying out for a greater understanding of their data and how to use it. Domino Data Lab was founded by three former finance executives at investment management firm Bridgewater Associates – Nick Elprin (CEO), Chris Yang (chief technology officer) and Matthew Granade.

Having raised $40.6m (£31.1m) in funding, the company has released software that lets data scientists collaborate, to build and run models in a way that is rarely seen. The tool goes beyond file sharing and open source software, allowing users to manage documentation, code and model inventories without them getting out of sync.

Domino tracks the provenance of a model from idea to impact, listing who worked on it, what they did, how it has been deployed and how it is being used. Experiments can be re-run with different parameters to manage alternative outcomes and old results can be reproduced even if new variants have been introduced in the meantime.

Naturally, a number of customers hail from the finance sector but Domino also works with Mashable, Eventbrite and Monsanto.