PALO ALTO, Calif. — October 26, 2017 — ThoughtSpot today announced SpotIQ, the company’s new AI-driven analytics engine, is now generally available in version 4.4 of its popular enterprise analytics platform, at no additional charge. It follows the closure of its $120M series C funding round announced in August, which is being used to extend ThoughtSpot’s product capabilities and leadership in AI. All ThoughtSpot customers including Amway, Capital One, Chevron, De Beers, Insurethebox, Miami Children’s Hospital, and Scotiabank are entitled to free upgrades to SpotIQ and the rest of the features included in ThoughtSpot 4.4.
The Power of 1000 Analysts
Built on ThoughtSpot’s next generation, massively scalable analytics platform, SpotIQ enables business users to make smarter data driven decisions fueled by automated AI-driven insights. SpotIQ works hand-in-hand with Relational Search to curate deep and relevant insights for users that they may not have thought to look for on their own. SpotIQ automatically asks thousands of questions about billions of data points and bring back dozens of insights in seconds. It arms non-technical business users with the power of 1000 analysts, while saving tens of thousands of hours of analysts’ time by instantly flagging up trends, anomalies, and other hidden insights in billions of data points.
“In today’s world, it’s not enough to provide data-driven insights to executives, or even line of business managers. You need to empower everyone in the business with easy analytics they can trust,” said ThoughtSpot CEO Ajeet Singh. “With SpotIQ’s AI-driven analytics, everyone from sales reps to claims adjusters to fashion buyers have the tools they need to make decisions, work more efficiently, and ultimately, achieve their business goals.”
“This is not just a big brother technology where the answer is what the computer says, it is about an ongoing interaction between the human users and the machine learning,” commented David Norris, Senior Analyst, Bloor Research, in a recent research note. He continued, “This is the first substantiation I have seen of what I envisaged cognitive analysis would look like and I shall be following how this develops very carefully.”
More information can be found here, which includes detailed information on SpotIQ capabilities, such as:
Automated insights - SpotIQ employs dozens of sophisticated algorithms to automatically uncover insights on search results, visualizations, or an entire data set. It can even auto analyze and describe factors contributing to differences between two data points.
Personalized insights - SpotIQ leverages ThoughtSpot’s DataRank machine learning algorithm to understand each user’s profile, preferences, and search behavior to ensure insights are relevant, trusted, and personalized.
Transparent calculations - SpotIQ doesn’t behave like a black box. The system provides detailed visibility into how each insight is generated.
Natural language narratives - SpotIQ automatically generates narratives accompanying each chart in a way you understand so you can make faster, better informed decisions.
Human feedback loop - Users can enhance machine-discovered insights through reinforcement learning by providing explicit thumbs up/down feedback. SpotIQ continuously learns to ensure insights match your preferences.
Custom and scheduled analysis - SpotIQ lets you trigger recurring analyses to be executed, specify the scope of the data to analyze, change algorithm parameters, and perform other customizations to fine-tune analyses.
Additional New Capabilities in ThoughtSpot 4.4
Besides SpotIQ, ThoughtSpot 4.4 brings over 50 new features and enhancements, including:
Enhanced Search Experience - Get new and improved visual feedback while searching - easily distinguish measure, attribute and other object types, optionally collapse/expand long queries, and more.
Query Visualizer - Gain full transparency through a detailed diagram of how a query is executed, no matter how complex the schema, down to the exact sequence of joins and filters that were applied to compute an accurate result.
Regression Lines - Toggle on or off best fit lines to identify causal relationships and to forecast upward or downward trends on noisy data
New Chart Options - Create colorful, vibrant visualizations with an improved color palette or specify a custom color using Hex code. Visualize your data in advanced Radar and Sankey charts.
Self-Learning - Quickly learn how to use ThoughtSpot through step-by-step Search Replay from a new customizable in-product Learning Center.
ThoughtSpot, the leader in Search and AI-Driven analytics for humans, is helping the largest companies in the world succeed in the digital era by putting the power of a thousand analysts in every business person's hands. With ThoughtSpot, business people can use a Google-like search to easily analyze billions of rows of data or automatically get trusted insights to questions they didn’t know to ask - all with a single click. ThoughtSpot connects with any on-premise, cloud, big data, or desktop data source, deploying 85 percent faster than legacy technologies. Customers like Amway, Bed Bath and Beyond, Capital One, Celebrity Cruises, Chevron Federal Credit Union, De Beers, Insurethebox and Scotiabank have put ThoughtSpot at the core of their business processes. With ThoughtSpot, business leaders and frontline workers alike have made more than 3 million data informed decisions.
ThoughtSpot was co-founded in 2012 by Ajeet Singh, former co-founder and Chief Product Officer at Nutanix, the largest tech IPO of 2016. With an engineering team built with Google, Amazon, and Facebook DNA, ThoughtSpot has raised over $160M in funding from Lightspeed Venture Partners, Khosla Ventures, General Catalyst Partners, Geodesic Capital and Capital One Growth Ventures. The company is headquartered in Palo Alto, with offices in Seattle, London and Bangalore. For more information please visit thoughtspot.com.
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