Introduced today by ThoughtSpot Inc. new features for its business intelligence platform to help companies more easily extract insights from their data.
Sunnyvale, California-based ThoughtSpot debuts features about six months after closing a $ 100 million round of funding. The startup provides a business intelligence platform used by four of the top five companies on the Fortune 500 list. The ThoughtSpot platform allows users to visualize business data as graphs and find useful patterns , such as how the demand for a product changes each week.
Among the new features that ThoughtSpot has debuted today is a tool called ThoughtSpot Sync. This allows companies to automatically take a specific pre-configured action on their business applications when the ThoughtSpot platform detects a noticeable event, for example an increase in e-sales. commerce. According to the startup, the tool will make it easier for organizations to act on business insights coming out of its platform.
Many of the other new features announced today are focused on simplifying ThoughtSpot users ’day-to-day work. In particular, the startup adds templates to reduce the amount of time required to create data visualizations.
As part of its platform, ThoughtSpot provides so-called SnapApps, templates that allow users to quickly build business intelligence dashboards. The startup is expanding its SnapApp catalog now with several new additions. The new templates are designed to help users see the data their companies store in products such as ServiceNow, Snowflake, HubSpot, Okta, Google Analytics, Google Ads, Jira, RedShift and Databricks.
Another set of prepacked software development blocks will appear for ThoughtSpot’s ThoughtSpot Everywhere tool. The tool allows companies to embed data visualizations they create using the startup platform into their own applications. As part of today’s update, users are receiving access to pre-packaged code building blocks for integrating data visualizations into applications.
In business intelligence projects, companies often enrich the data they process with relevant information from external sources. ThoughtSpot adds features that will simplify the use of information from external sources. Companies will have the ability to more easily access data from companies like FactSet Research Systems Inc., a major provider of market data.
Many business intelligence professionals use an open-source tool called dbt to automate tasks such as removing errors from datasets. ThoughtSpot now allows technology-savvy users to automatically form dbt data workflows that work on its platform. In addition, users with advanced requirements can now extend ThoughtSpot’s built-in catalog of data visualizations using custom charts they create using third-party tools.
Alongside the feature additions, ThoughtSpot today announced a go-to-market update. The company will start offering its platform in three separate editions, one of which is a new edition of Teams that makes the platform available at a lower price. Teams cost $ 95 per month and support a user group with unlimited users.
“The kinds of value changes our customers have made at ThoughtSpot are just amazing,” said ThoughtSpot Chief Executive Officer Sudheesh Nair. “However, the way our business model is structured, means that many smaller organizations and teams will not experience the same results themselves. That is why these new editions are so special to me. ”
In conjunction with the product updates, ThoughtSpot today revealed that its platform is now used by more than a quarter of the Fortune 100. Cloud-based editions of the startup’s business intelligence platform are particularly popular. According to ThoughtSpot, cloud products now account for two-thirds of its annual recurring revenue and 95% of new sales.
Photo: ThoughtSpot
Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.
.