“Data is the New Oil” was coined by The Economist in May 2017 and became a mantra for organizations to drive new wealth from data. But in reality, data by itself has no value. Even though we create a tremendous amount of it (90% of the world’s data was created in the past year), research shows that we are only using 1% of this data. The rapid growth of data volumes has effectively outstripped our ability to process and analyze it.
The first wave of digital transformations saw a dramatic decrease in data storage costs. On-demand compute resources and MPP cloud data warehouses emerged. Self-service analytics became easier to use, cheaper, and faster than before. Yet 15 years after the launch of AWS, most organizations still aren’t meeting their goals of delivering value from data to the organization. Less than half of business decisions (45%) rely on quantitative information and analysis while the majority still rely on gut feelings or opinions.
Thriving in a changing world: AI and multiple clouds
At Sisense, we see the rise of AI and a multicloud world accelerating the next wave of digital transformation, helping organizations reimagine their business and drive innovation, adoption, and value from data in the digital era.
- The cloud will evolve from a place for centralizing data for analysis to a hybrid strategy, leveraging best-of-breed, cloud-native technologies that will accelerate the distribution of data (wherever it may be) into insights via analytical apps.
- AI will deliver much more use and therefore value from data by helping users automate decisions, make predictions, and identify patterns faster and more easily than before.
In order to empower the world’s business, data, and product teams to drive digital transformation, we recently announced two major leaps forward for the Sisense Platform. The merger of Periscope Data in May 2019 brings robust functionality for cloud data experts to work with their data as needed while supporting a wide breadth of users and use cases. In September 2019, the fully re-architected and purpose-built Cloud-Native Sisense was launched to support any cloud as part of our commitment to provide cutting edge capabilities throughout customers’ digital transformation.
Today, we are announcing the first integration of Periscope Data within the Sisense Platform. The Q4 Release helps data teams better leverage the benefits of the cloud data warehouses and unleashes the power of advanced analytics using AI to uncover new insights and value from today’s data.
Optimize raw data using materialized views
In-Warehouse Data Prep delivers builders advanced functionality to rapidly transform and optimize raw data using materialized views on cloud data warehouses. Using the language of data (SQL, and soon Python and R), data teams are empowered to reduce database workloads and optimize query performance that power and scale analytics. Now, they can drive value from data to all users directly from their cloud data warehouse.
The Elastic Data Hub delivers unique and highly differentiated options for data teams to simplify complex data and power analytical apps. It equips them to directly query data from data warehouses in real-time, or further accelerate performance at scale with cached data models that provide exceptional performance for high-query-frequency, slow-changing data from your cloud data warehouse
Unleash the power of advanced analytics
Sisense Forecast is an advanced AI-powered forecasting option that offers unique capabilities to derive new value from data without the need for data science expertise. With a single click, an ensemble of univariate forecast models run against your data. An AI algorithm selects the best model based on the type of data analyzed. An additional variable can be added to the forecast to create a multivariate forecast.
Business users can independently compare the forecast with actual values for the last period, view the respective weights of the statistical model, and change inputs to fine-tune their forecast.
Sisense Quest is the latest certified add-on from the Sisense Labs team. It allows business teams to harness the power of data science by delivering new insights from your data with a library of out-of-the-box statistical models, such as What-If and Trend Analysis. In addition, you can deploy and operationalize your own machine learning models to all users by uploading custom Python. To help make sure that insights are always actionable, a variety of suggested actions or new ones can be tailored for specific use cases.
Three new ways to make embedding analytics even easier
Three more new features make it even easier for product teams to build and scale custom actionable analytic apps and seamlessly integrate them into other applications.
- New Embedded Dashboard Designer Privileges allow end-clients within an embedded analytical environment to independently design and customize widgets and dashboards directly within their deployment
- Embed Code UI Generator automatically generates various code snippets needed to embed Sisense dashboards and widgets in external applications
Enhance your deployment, connect to Athena, and more
The Sisense Release Q4 2019 also includes:
- Partner Marketplace delivers custom functionality from Sisense’s diverse network of implementation partners to compliment your Sisense implementation.
- Native Athena data connector to quickly connect and analyze S3 data buckets into your cached data model for exceptional query and data exploration performance.
- Additional build nodes to scale and extend your Cloud-Native Sisense deployment.
Sneak peek: 2020 and beyond
In-Warehouse Data Prep with Python and R
Data teams can look forward to more innovative tools that will enable them to drive value from raw data in their cloud data warehouses. Expect materialized view support for Snowflake and Google BigQuery, as well as further data prep capabilities using Python and R, by the first half of 2020.
Use AI to drive ROI
The pace of AI innovation focused on closing the adoption gap and driving greater ROI from data for our clients will continue to accelerate in 2020. After the introduction of AI Exploration Paths and Group Similar in Q3 2019, and Sisense Forecast and Quest in 2020, we are excited to announce that Sisense Natural Language Query (NLQ) is coming soon to Sisense.
Talk to your data
Sisense NLQ enables users to easily ask sophisticated questions in an easy way with natural language. A user can simply click on the “Ask a question” on a dashboard where the user can simply type a question in natural language and immediately see an appropriate visualization.
AI (and more) on the horizon
We’ll share further advancements in our AI strategy and progress on our merger with Periscope Data during the next quarterly product blog release. We are excited for the journey our customers are taking with us to accelerate their digital transformation in 2020, and value your continued investment in Sisense.