ThoughtSpot Leverages Artificial Intelligence To Make Business Intelligence Valuable

Photo Credit: ds_30 from Pixabay

According to a MarketsAndMarkets report, the global business intelligence (BI) market is expected to grow at a CAGR of 7.6% to reach $33.3 billion by 2025. Sunnyvale-based ThoughtSpot is among the leading players in the market that hopes to make analytics easier for all users.

ThoughtSpot’s Offerings

ThoughtSpot was founded in 2012 by Abhishek Rai, Ajeet Singh, Amit Prakash, Priyendra Deshwal, Priyendra Deshwal, Sanjay Agrawal, Shashank Gupta, and Vijay Ganesan to allow people to explore, analyze, and share real-time business analytics. It was set up to help customers analyze data faster by answering natural language questions about the data without expecting them to have to know how to formulate an SQL query.

It wanted users to be able to enter search questions in their normal language, while ThoughtSpot translated that question into SQL and then quickly displayed a chart with data related to the question. ThoughtSpot also uses artificial intelligence to understand the user’s intent to help find the answer closest to the context of the search. Its SaaS platform for search and AI-driven analytics connects to cloud data sources like Snowflake and Amazon Redshift so that users can identify insights from all their cloud data.

It positions itself as the ‘Google for numbers’ as it wants to deliver users key facts via search. But it distinguishes itself from Google by not only giving the users the answers to the queries they are searching for but also using AI to offer alternative questions and results that may be helpful. ThoughtSpot believes that traditional BI tools act like dashboards and typically offer users a template for which to present historical aggregated data. ThoughtSpot goes a few steps ahead and apart from helping answer what happened using the historical data, it seeks to answer questions such as what-if and what-next using its AI capabilities.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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