ThoughtSpot Announces Record 108% YoY Revenue Growth Driven by Booming Demand for AI-driven Analytics
Congratulation to Sudheesh Nair, the Leadership , Product and Engineering team of ThoughtSpot.
In the enterprise ecosystem, dinosaur( ERP system) that drives the business process are finding hard to move towards real time data & analytics driven business process optimization & actions due to various reasons. Lack of this has resulted in development various products in the space of ( data pipeline, data infrastructure, data platform & data products) that help realize : single consolidated data store(data lake & data warehouse),Information ( reports) & insights ( metrics and trend) .ThoughtSpot product ecosystem has totally changed the game. In the BI & Analytics logical step { raw data →Data consolidation →Information[reports] →Insights[data transformation] →impact →correction →action →orchestration →Automation } ,ThoughtSpot has placed itself as Partner & Advisor defining the enterprise data ecosystem Data management. Reason Data management when done properly , ThoughtSpot product ecosystem takes care of all the aspect as mentioned logical step { data pipeline, data infrastructure, data platform & data products) automating {raw data →Data consolidation →Information[reports] →Insights[data transformation] →impact →correction →action →orchestration →Automation} . ThoughtSpot is directly putting information in the hands of user who want to use it, removing all the bottleneck of IT team development cycle. This transformation is bringing a critical business decision agility in enterprise. In this journey ThoughtSpot is going to obsolete the Self Service tool, Ad-hoc or systematic reporting tool and layers of other BI tools thus bringing intelligent automation. This theory is proved by the results which ThoughtSpot has attained today.
For ex: In any manufacturing supply chain having production facility at China, what is impact of Coronavirus to the enterprise? With ThoughtSpot product ecosystem, couple of analytics search like : Orders getting manufactured from China facility, value of orders( $ at risk),key customers getting impacted, inventory at china factory location, can the key customer orders be manufactured from other factory location outside china, what is my inventory shortage etc provides 360 degree view & impact to business in couple of hours , rather building this impact story in traditional way which will take 3–4 days or even more.
Another attribute of ThoughtSpot product “Search and AI-driven analytics”. In today’s consistent & rapidly changing business environment static “reporting & analytics” products doesn’t makes decision fast. The software infrastructure changes ( i.e reporting & aggregation layer changes) which is required for static reporting & analytics to work with changing environment will take it own time. ThoughtSpot with its product offering “Search and AI-driven analytics”, makes the entire “reporting & analytics” ecosystem very fluid. Changes to business definition and its impact on Metrics, trend, prediction are being modelled with latest AI tech and business decision based on changed metrics, trend, recommendation & prediction are done very fast saving significant amount of efforts & dollars.
Kudos to the ThoughtSpot team for bringing such an excellent product to the market.
