PALO ALTO, Calif. – February 27, 2018 – ThoughtSpot, the leader in search and AI-driven analytics for the enterprise, today announced it has been positioned by Gartner, Inc. in the Visionaries quadrant of the Gartner 2018 Magic Quadrant for Analytics and Business Intelligence Platforms.1 This is ThoughtSpot’s second consecutive placement in the Magic Quadrant. This follows on the company closing a $120M Series C funding round, expanding its global footprint, and deepening its executive bench with several key hires.
According to Gartner, “By 2020, 50% of analytical queries will be generated via search, natural-language processing or voice, or will be automatically generated.” The analyst firm also says, “As disruptive as visual-based data discovery has been to traditional BI, a third wave of disruption has already begun in the form of augmented analytics, with machine learning generating insights on increasingly vast amounts of data.”
“ThoughtSpot’s next generation analytics platform is helping to accelerate digital transformation within the world’s largest enterprises by providing them with true self-service analytics. We’ve achieved explosive growth by relentlessly innovating our next-generation, enterprise-class analytics platform, including improving the functionality for our core search-driven analytics offering and developing new technologies like SpotIQ, our AI-driven analytics engine,” said Ajeet Singh, co-founder and CEO of ThoughtSpot. “ThoughtSpot was included for the first time in the 2017 Magic Quadrant for Analytics and Business Intelligence Platforms. To be named a Visionary this year, in our view, is a testament to the strong demand from enterprises looking to ThoughtSpot to compete, and win, in today’s digital economy.”
ThoughtSpot offers a next generation analytics platform that is simple, smart, and enterprise-class. It enables non-technical business people to use an easy search-driven experience to analyze company data in seconds and get smart, AI-driven automated insights in a single click with SpotIQ. ThoughtSpot’s new breed of analytics architecture is built from the ground up for speed at scale on billions of rows of data across multiple sources - all while delivering sub-second performance and enterprise-governance. With ThoughtSpot, enterprises vastly expand the reach of data-driven insights as anyone can easily analyze their own data, while liberating analytics and BI teams to work on the most strategic data projects facing their organizations.
A complimentary copy of the Gartner report is available at: https://go.thoughtspot.com/analyst-report-2018-gartner-mq-bi-analytics.html
Gartner invited ThoughtSpot to demonstrate its next generation analytics platform during the “Innovative Analytics in Action: Emerging Trends You Need to Know” session at Gartner Data & Analytics Summit 2018 in Grapevine, TX. The session will highlight technologies like augmented analytics, natural-language query, and natural-language generation, and the vendors developing them, key to advancing the analytics and business intelligence market.
1Gartner, Inc., “Magic Quadrant for Analytics and Business Intelligence Platforms,” by Cindi Howson, Rita L. Sallam, James Laurence Richardson, Joao Tapadinhas, Carlie J. Idoine, Alys Woodward, February 26, 2018.
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About the Gartner Data & Analytics Summit
Data and analytics leaders are fueling digital transformation, creating monetization opportunities, improving the customer experience and reshaping industries. The Gartner Data & Analytics Summit provides the tools to build on the fundamentals of data management, business intelligence (BI), and analytics; harness innovative technologies such as artificial intelligence (AI), blockchain and the Internet of Things (IoT); and accelerate the shift toward a data-driven culture to lead the way to better business outcomes.
ThoughtSpot, the leader in search & 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’s next generation analytics platform, business people can use Google-like search to easily analyze billions of rows of data and get trusted insights to questions they didn’t know to ask, automatically - 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, BT, 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 per year.
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.