ThoughtSpot Named a Leader in the Gartner 2019 Magic Quadrant for Analytics and Business Intelligence Platforms

Founded in 2012, the company is recognized in the Leaders quadrant

Evaluation based on completeness of vision and ability to execute

PALO ALTO, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/AI?src=hash” target=”_blank”gt;#AIlt;/agt;–It’s 2am on a Saturday. Rajeev Lahoty, Senior Director of BI &
Analytics at Progressive Leasing, hasn’t been able to sleep from
excitement. He’s recently rolled ThoughtSpot out to his business users.
In the process, he’s gotten himself hooked on instantly finding insights
with search and AI-driven analytics. His company is on the brink of a
major shift in democratizing data, and ThoughtSpot is just what he’s
been looking for. He takes another sip of coffee, proceeds to do his
next search on ThoughtSpot, and does a happy dance as each new result
pops up.

For companies evaluating technology, Gartner’s Magic Quadrant reports
provide deep insights into vendors and their offerings. Today, ThoughtSpot
announced Gartner, Inc. has positioned the company in the Leaders
quadrant of the Gartner 2019 Magic Quadrant for Analytics and Business
Intelligence Platforms1. The company has been included in the
quadrant of this report since 2017.

The news follows a year of substantial growth and market recognition for
the company, including holding their first
customer conference Beyond
, raising $145M
in Series D funding
, and bringing Sudheesh
Nair onboard as CEO
.

A complimentary copy of the Gartner report is available here.

A New Era of Augmented Analytics

The analytics landscape has undergone dramatic change in the last year.
Innovations in technologies like artificial intelligence, natural
language processing, search, and machine learning have fundamentally
changed the way companies interact with their data.

According to Gartner: “As disruptive as visual-based data discovery
has been to traditional BI, a third wave of disruption has emerged in
the form of augmented analytics, with machine learning (ML) generating
insights on increasingly vast amounts of data. Augmented analytics also
includes natural language processing (NLP) as a way of querying data and
of generating narratives to explain drivers and graphics.”
2

They also predict: “By 2021, natural language processing and
conversational analytics will boost analytics and business intelligence
adoption from 35% of employees to over 50%, including new classes of
users, particularly front-office workers.”
3

Delivering the Future of Data

Customers use ThoughtSpot’s next-generation analytics platform to
empower everyone in their organization, from frontline employee to
C-level executive, to find meaningful insights hidden in massive amounts
of data through a simple search interface. The company’s Relational
Search platform leverages a deep architecture built from the ground up
for sub-second performance across billions of rows of data with
enterprise-class governance. With SpotIQ, the company’s AI engine for
numbers, users can simply click on a business term to get relevant,
meaningful insights to questions they care about, but didn’t even know
to ask. Business people can also talk directly with their data with
SearchIQ, the company’s recently announced voice-driven analytics
interface, equipping them with powerful insights anywhere and everywhere
they make decisions.

“There are those moments in your life you always remember. For me,
there was the time before ThoughtSpot, and the time after ThoughtSpot.
In our business, business users ask tons of questions every day, and no
matter what other vendor we evaluated, we were still reliant on analysts
writing SQL to answer these questions. Keeping up became simply
impossible,”
said Rajeev Lahoty, Progressive Leasing Senior Director
of BI & Analytics. “When I first saw ThoughtSpot, I couldn’t
believe it – what used to take four hours we were now doing in four
minutes. I showed it to one person, and it took off like wildfire. Now,
we’ve got business users finding insights to inform everything from how
well we are doing; what challenges are we facing and it is helping
decide our product roadmap. ThoughtSpot allowed us to ‘Keep Asking.’ In
the end – we get to the relevant information by asking the right
questions.”

Reactions from Leadership

“Our customers require the ability for everyone in their
organization, from C-suite executive to frontline employee, to find
relevant, data-driven insights. It’s absolutely critical if they want to
succeed in a world that’s fundamentally changed by the rise of
technologies like cloud, IoT, and AI,”
said Sudheesh Nair,
ThoughtSpot CEO. “We see today’s recognition from Gartner as further
evidence ThoughtSpot’s search and AI approach is at the forefront of
delivering this transformation for our customers, but it’s just the
beginning. It’s only through relentless innovation and deep partnership
with our customers that we’ll achieve our goal of equipping every
employee, in every organization, with critical access to information.”

“We started ThoughtSpot with a singular mission six years ago – to
create a fact-driven world by empowering every human being with data.
This required a reimagining of analytics closer to AI than traditional
BI. In our customer base, we are empowering business users to find their
own insights, giving data scientists and analysts the time they need to
move up the value chain by automating the routine tasks of building
dashboards and answering ad hoc questions from the business,”
said
Ajeet Singh, ThoughtSpot co-founder and executive chairman. “To us,
today’s recognition by Gartner is an honor we don’t take lightly. We
will stay mission-driven and continue to significantly invest in our
product’s unique combination of UX, AI algorithms, and cloud-scale
computing to deliver an unparalleled user experience at enterprise
scale. I’m grateful to our customers and our team for where we are
today, but we know this is only the beginning of a long journey.”

A Year of Historic Growth

ThoughtSpot made significant strides in 2018 in all areas of the
business. This includes:

Gartner, Magic Quadrant for Analytics and Business Intelligence
Platforms,
Cindi
Howson
James
Richardson
Rita
Sallam
Austin
Kronz
, 11 February 2019.

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research publications, and does not advise technology users to select
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About ThoughtSpot

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 Google-like search in
natural language 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 7-11, BT, Celebrity Cruises, Daimler, De
Beers, Hulu, Miami Children’s Health System, Nationwide Building
Society, and Scotiabank have turned to ThoughtSpot 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 http://www.thoughtspot.com/.

1 Gartner Magic Quadrant for Analytics and Business
Intelligence Platforms, Cindi Howson, Rita Sallam, James Richardson,
Austin Kronz, 11 February 2019

2 Gartner Magic Quadrant for Analytics and Business
Intelligence Platforms, Cindi Howson, Rita Sallam, James Richardson,
Austin Kronz, 11 February 2019

3 Gartner Magic Quadrant for Analytics and Business
Intelligence Platforms, Cindi Howson, Rita Sallam, James Richardson,
Austin Kronz, 11 February 2019

Contacts

Ryan Mattison
press@thoughtspot.com
949-680-9110