Unified Data Platform Overcomes Fragmented Data, Tools and Workflow
That Cost Businesses $3.1 Trillion Annually
Ingest, Store, Analyze, Visualize and Report Data — All From One Platform
SAN FRANCISCO, Nov. 01, 2017 (GLOBE NEWSWIRE) -- Periscope Data today launched a new software platform that meets the unique needs of professional data teams, the fast-growing community of data analysts, data engineers, data scientists and chief data officers that are driving the future of business. Periscope’s Unified Data Platform is the industry’s first to address the complete analytics lifecycle, allowing data teams to ingest, store, analyze, visualize and report on data — all from one connected platform — and deliver deeper insight to their organizations.
Often called the next natural resource, corporate data is the lifeblood of most businesses and drives significant technology investment. Yet most organizations struggle to efficiently and accurately harness insights from this data. The reason: Data is fragmented across the business, managed by an array of disconnected tools, and analyzed by siloed teams that can’t ensure accurate metrics or consistent insights into business performance.
With Periscope’s Unified Data Platform, businesses can create a data-driven culture by combining a single source of truth — a data warehouse — with deep analytics capabilities, empowering data teams to collaborate and be more productive and efficient. Periscope’s platform is designed to overcome the high costs of incomplete, out-of-date and potentially inaccurate data, which costs a typical business nearly $10 million per year1 — creating a $3.1 trillion annual drag on the U.S. economy2. The platform also addresses the large and growing market for big data and analytics software, predicted to be worth $60 billion globally by 2020, according to IDC3.
“Companies have more data than they can handle — but never enough insight,” said Harry Glaser, co-founder and CEO of Periscope Data. “Business leaders know they’re not getting what they need, and their data teams are hamstrung by siloed, inefficient systems. How often does a CEO get conflicting views of data from different departments? And how often do businesses make product decisions without fully understanding customer behavior? This has to change, and we’re excited to empower data teams with a fast, smart, unified platform.”
“Data is essential to Flexport’s mission, which is to fix the user experience in global trade,” said Ryan Peterson, founder and CEO, Flexport. “We use data internally to run a better operation, and also to add more value to our customers. If we didn’t have Periscope Data at the core of our business, organizing all our data, making it accessible and helping our teams make decisions, we would really struggle and be back in the dark ages. We use it to do everything, and we’re steering the business strategically based on the insights that we find in Periscope Data.”
Founded by managers from Google and Microsoft, Periscope Data has already become a hit with its core product (Periscope Data Analytics), which instantly turns SQL queries into interactive charts and dashboards that are easy to share. Periscope’s customers write 16 million queries and share 30,000 dashboards per day, spending an average of 20 hours every week in the software, and over 90% log in to the platform every day. Since 2016, the company has tripled its customer base to more than 950 brands, including Adobe, Crunchbase, EY, Flexport, MoneyLion, New Relic, Supercell, Tinder and ZipRecruiter.
Periscope’s new Unified Data Platform extends the core product with built-in data warehousing capabilities based on Amazon Redshift, as well as new capabilities to ingest data from any source, all without leaving the Periscope platform. The Unified Data Platform is comprised of the following core components:
“Most companies have data scattered all over, with disparate teams and too many tools,” said Tom O’Neill, co-founder and chief technology officer, Periscope Data. “We’ve re-engineered the process to regain control over runaway data, empowering individual data experts to do their jobs faster — and allowing data teams to collaborate across the analytics lifecycle. Unifying data and unifying data teams will be critical to the future of data-driven businesses.”
“As a business manager, I need to have fresh and accurate data to make the best decisions,” said Alexandra Mack, head of marketing for Crunchbase. “We chose Periscope Data because it unites all of our disparate data sources, aligns our data teams, and gives my staff the power to be data experts far better than any other solution we evaluated. We’re banking on Periscope for our strategic planning — in fact, our 2018 plan wouldn’t make sense if we took Periscope Data out of the picture.”
Periscope’s Unified Data Platform is available today, including both Periscope Data Analytics and Periscope Data Warehouse. Support for R and Python languages will be available in early 2018.
As an enterprise-grade system, Periscope’s Unified Data Platform delivers the highest levels of management and security functionality. Using the platform, data teams can monitor their cluster’s CPU and memory usage, which queries are being run by whom, as well as control who has access to which data. Additionally, Periscope Data delivers a cloud security infrastructure that follows industry best practices and standards, including:
About Periscope Data
Periscope Data builds software to turn data teams into superheroes. Its Unified Data Platform is the industry’s first to address the complete analytics lifecycle, allowing data teams to ingest, store, analyze, visualize and report on data all from one connected platform. This empowers them to collaborate and drive faster insight, while allowing businesses to foster a data-driven culture around a single source of truth. Periscope Data serves 950+ customers globally, including Adobe, Crunchbase, EY, Flexport, New Relic, Supercell, Tinder and ZipRecruiter.
1 -- Gartner, “How to Create a Business Case for Data Quality Improvement,” January 2017
2 -- Harvard Business Review, “Bad Data Costs the U.S. $3 Trillion Per Year,” September 2016
3 -- IDC, Worldwide Semiannual Big Data and Analytics Spending Guide, March 2017
For more information, contact: Tim Marklein 415-999-2006