SUNNYVALE, Calif.--(BUSINESS WIRE)--Today, ThoughtSpot, the leader in search and AI-driven analytics, announced Gartner, Inc. has positioned the company in the Leaders quadrant for the second year in a row in the Gartner 2020 Magic Quadrant for Analytics and Business Intelligence Platforms1. The company was positioned on the Magic Quadrant just three years ago in the Niche Players quadrant, then moved to the Visionaries quadrant before moving to the Leaders quadrant in 2019 where it is today.
The news follows a year of growth and expansion for ThoughtSpot, including raising $248M in Series E funding and nearly doubling its valuation to $2B, dramatically growing it’s ecosystem and launching Atlas, the ThoughtSpot customer marketplace, and deepening the executive team and hiring the company’s first CFO, and opening new offices around the world.
A complimentary copy of the Gartner report is available here.
Moving Beyond Data Visualization with Augmented Analytics
The analytics market has evolved tremendously, moving beyond data visualization and into a new era. This change has been fueled both by the need from organizations around the world to leverage their data in new ways to drive their businesses, and a shifting technology landscape as innovations like artificial intelligence, cloud, and IoT become more pervasive.
In fact, according to Gartner: “ABI platforms are no longer differentiated by their data visualization capabilities, which are becoming commodities.”2
Furthermore, “Augmented capabilities are becoming key differentiators for analytics and BI platforms, at a time when cloud ecosystems are also influencing selection decisions.”3
Powering the Next Wave of Analytics Innovation
As enterprises’ data requirements move beyond visualizing data, a new generation of analytics platforms are needed to equip users of all kinds with the ability to unearth and utilize insights. With ThoughtSpot’s search and AI-driven analytics platform, businesses are able to empower everyone in their organization, from the frontlines to the backoffice to the C-suite, with the ability to analyze their data, find insights, and act on them.
Anyone can quickly analyze billions of rows of data and get answers in seconds using a simple search as easy as applications from the consumer world. With SpotIQ, ThoughtSpot’s AI engine, users can simply point at a topic, keyword, or chart, and the system instantly generates thousands of automated insights the user cares about, but would not even have known to look for.
Thoughts from the Top
“The world has fundamentally changed in the last few years, driven by the rise of new technologies like cloud, IoT, and AI. At the heart of this revolution is data. Our customers need new ways to put data to work for them to thrive in today’s business climate,” said Sudheesh Nair, CEO, ThoughtSpot. “We think the Magic Quadrant provides exceptional insight into new technologies that can help organizations better use their data to drive business results. We see our recognition as evidence that augmented analytics, powered by search and AI, can deliver this change, but it’s just the first step. We know how much our customers and partners are relying on us to innovate and bring more capabilities to market. They are counting on us to arm their entire organization with the critical insights they need to transform, and we’re ready to deliver.”
“When we started ThoughtSpot in 2012, we had a simple, yet powerful mission to create a more fact-driven world. This mission remains critical to businesses and the world at large, now more than ever,” said Ajeet Singh, Cofounder & Executive Chairman, ThoughtSpot. “By combining a completely new user experience with powerful underlying technology, ThoughtSpot is helping bring about this revolution. Being named a Leader for the second year in a row is not a recognition we take for granted. We will continue to work with our customers, partners, and the analytics industry to build the next generation of technology and bring fundamentally new innovation to market. As a company, we like to say we’re always 2% done. There’s a lot more to come.”
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
The world’s most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to front-line employee, with the ability to quickly uncover data-driven insights. With ThoughtSpot, business people can type a simple search to instantly analyze billions of rows of data, and leverage artificial intelligence to get trusted, relevant insights pushed to them as answers to thousands of questions they might not have thought to ask. ThoughtSpot is simple enough for any business person to use, yet powerful enough to handle even the largest, most complex enterprise data without sacrificing speed, security, or governance. That’s why customers like Walmart, 7-11, BT, Celebrity Cruises, Daimler, De Beers, Hulu, Miami Children’s Health System, Nationwide Building Society, and Scotiabank have turned to ThoughtSpot to transform their decision-making cultures. By making insights a part of every conversation and every decision, ThoughtSpot is reimagining the role of data in creating a more fact-driven world. For more information, please visit www.thoughtspot.com.
1 Gartner [Magic Quadrant for Analytics and Business Intelligence Platforms], [James Richardson, Rita Sallam, Kurt Schlegel, Austin Kronz, Julian Sun], [11 February 2020]
2 Gartner [Magic Quadrant for Analytics and Business Intelligence Platforms], [James Richardson, Rita Sallam, Kurt Schlegel, Austin Kronz, Julian Sun], [11 February 2020]
3 Gartner [Magic Quadrant for Analytics and Business Intelligence Platforms], [James Richardson, Rita Sallam, Kurt Schlegel, Austin Kronz, Julian Sun], [11 February 2020]