The Data Summit, which took place mid-May in New York City, served as an excellent guide to the future of data analysis and how business intelligence is transforming the business world today. There was a lot of talk about new approaches to analytics, and the different challenges the BI marketplace is facing. Sisense was a platinum sponsor at the event, and Co-Founder Elad Israeli spoke about 5 Questions You Should Ask Before Diving Into Your Big Data in front of a packed hall as well as gave a short interview with 4 exciting takeaways from the Data Summit:
1. Key challenges in the marketplace: BI is not just for the big boys
Until just a few years ago, most companies that used big data analytics were Fortune 500 companies–large companies with plenty of resources. Today, with the amount of data growing and the number of data sources increasing, smaller companies have the same real and urgent need as bigger companies to consolidate and find meaning in their data.
In order to do that, a key challenge that BI companies face is to provide small to medium size businesses with a solution that has technology powerful enough to solve the same problems that big companies have of consolidating and visualizing multiple and large datasets, but costs about a fraction of the price. If not, SMBs simply won’t have the money or personnel to implement the solution. In fact, SMBs often benefit the most from implementing a business intelligence solution as they can experience a revenue boost of 200%-300% times increase, whereas the big boys typically see about a 5% revenue increase. Ultimately, BI solutions need to create a tool that is consumable for small to medium size businesses, yet address all the requirements of the big boys.
2. Top BI requirements: Speed and ease-of-use
Speed and ease-of-use is high up on the list as the most sought-after BI requirements. The problem is, ease-of-use is often a marketing buzzword and the question you need to ask is: easy for who? What Sisense does is to focus on making it easy for SMBs by providing a solution that doesn’t requirement data scientists or hefty IT departments. If you enable businesses that don’t have endless resources or a team of well-trained data scientists, you empower everyone.
3. What makes Sisense unique: Powerful back-end, powerful front-end
Sisense provides a full-stack BI solution while most companies today are either database vendors addressing DBAs and developers, or front-end tools that focus only on data visualization–which is only the last mile in BI. Sisense includes both a powerful database on the back-end with ETL functionality, and a powerful front-end with beautiful data visualization–all of which can be managed by non-technical business people.
4. The most exciting aspect about the BI space today: Room for disruption
The BI space and demand keep on growing as technology becomes unbelievably strong which expands the opportunities for companies that have innovative technology, like Sisense. The BI space is definitely up for disruption in the upcoming years.