ThoughtSpot, the AI-Powered Analytics company, today announced
Gartner Inc. has positioned the company in the Leaders quadrant in
the 2024 Gartner® Magic Quadrant™ for Analytics and BI Platforms. A
complimentary copy of the report can be found here.
A Leader for Companies Leading in the Era of
GenAIWe believe that the modern analytics and BI market
has gone through unprecedented change in the last year, a direct
result of Generative AI (GenAI). There’s been a mindshift among
business and data leaders, as organizations look to go beyond
experimentation and see tangible, concrete results and ROI from
their GenAI investments. Early adopters have proven analytics and
BI are a high value use case where GenAI, when applied correctly,
can immediately add value. In doing so, these organizations are
unshackling themselves from the dead dashboards of the last decade
and bringing data-driven ideas to life as they spark their Data
Renaissance. Now, with personalized, trusted insights at the
fingertips of all employees, any business user can ask questions of
their data, get actionable answers, and deliver meaningful business
value, all without compromising on governance and security.
Customers like JP Morgan Chase, Verizon, Elevance Health,
Electronic Arts and easyJet Airlines are turning to ThoughtSpot as
an innovative business partner they can trust to deliver value in
their GenAI business strategies, via AI-Powered Analytics.
As reviewed on Gartner Peer Insights™ by customers across
industries and roles:
“A Paramount AI Driven Platform to
Revolutionize Your Data Analysis: Thoughtspot Analytics has been
impeccable since we brought it on board as it has contributed
greatly in the transformation of how we conduct our data analysis.
Thanks to ThoughtSpot we can easily derive informative insights
from our data which is integral in data driven decision making. Its
AI powered analytics are critical for employees of any technical
level to create visualizations from a given set of data,” said a
data analyst of a consumer goods company
https://www.gartner.com/reviews/market/analytics-business-intelligence-platforms/vendor/thoughtspot/product/thoughtspot-analytics/review/view/5263682.
“I have to say it's a game changer.
It truly democratizes the use of data. Advanced users get answers
faster. Fresh users are less scared once they see how it works,”
said a VP of Operations at a construction firm
https://www.gartner.com/reviews/market/analytics-business-intelligence-platforms/vendor/thoughtspot/product/thoughtspot-analytics/review/view/5171782.
Key Business AchievementsThe report publication
follows a year of growth and expansion for ThoughtSpot,
including:
- The launch of and expansion of ThoughtSpot Sage, an AI-powered
search experience that empowers every person in an organization,
regardless of technical skills, leverage foundational language
models within ThoughtSpot’s patented search technology to get
insights from their data through natural language search.
- The success of ThoughtSpot Embedded, the company’s embedded
analytics solution introduced in late 2021, which emerged as an
industry leader for product and app developers looking to infuse AI
into their analytics.
- A deepening partnership with Google, including new integrations
with Gemini models to help organizations unlock unprecedented value
from their investments in the Google Cloud ecosystem. ThoughtSpot
was also recognized as Google Cloud’s Technology Partner of the
Year for Data - Business Intelligence.
- Growing partnerships across the data ecosystem including new
data catalog integrations with Alation, Atlan and Collibra, and
Model sync for dbt. ThoughtSpot was named Snowflake’s 2023
Innovation Technology Partner of the Year.
- The introduction of ThoughtSpot
Monitor for Mobile, empowering customers with on-the-go, automatic
notifications on their mobile device as critical business KPIs
change, along with an explanation of the key drivers of that
change, so that they can make data-driven decisions from
anywhere.
Thoughts from the Top
“The world has fundamentally changed in the last 18 months. The
rise of Generative AI is ushering in a new era that we call the
Data Renaissance. Companies of all sizes, and in every industry,
are looking to put GenAI to work in their business and their teams,
to measure and deliver tangible business outcomes from their GenAI
investments. This is not about technology for technology’s sake.
It’s all about putting people and ideas back at the center of
decision-making,” said Ajeet Singh, Co-Founder and Executive
Chairman of ThoughtSpot. “Our focus is to support every person,
regardless of technical expertise, in being able to engage with
data, find answers they can trust, and take action that creates
impact. We will continue to co-innovate with our customers and
partners to deliver the next generation of AI-powered analytics
that drives real business value. As a company, we like to say we’re
always 2% done. There’s more to come.”
“Generative AI is moving into the disillusionment phase, where
businesses and users are no longer wrapped up in testing and
trialing, they are looking for real world value. In 2024, it’s no
longer enough to say you have a GenAI-powered experience, customers
require trustworthy, accurate, secure GenAI that delivers tangible
outcomes. GenAI investments across analytics, natural language
search and chat, and BI are proving to have real returns and
business impact by reducing effort, enabling wide adoption, and
answering deeper questions,” said Sumeet Arora, Chief Development
Officer at ThoughtSpot. “ThoughtSpot was built for this moment in
analytics, where natural language search is a reality with the
power of LLMs and Generative AI, and our customers report up to 95%
accuracy when using ThoughtSpot Sage compared to GPT alone. We’ve
done this by building security and governance guardrails into every
step of the process, giving customers transparency and ensuring
accuracy with our advanced human-in-the-loop verification and
training controls. We will continue to drive innovation in
AI-powered analytics and support our customers in their quest to
modernize their analytics stack for the era of natural language
search and conversational analytics technology. The time to leave
legacy BI is now.”
Download the report here, and read more about ThoughtSpot’s
perspective on the report here.
About the Gartner Magic QuadrantGartner Magic
Quadrant gives enterprise technology shoppers an unbiased
assessment of how well competing providers are performing against
Gartner’s market view and is supplemented by validated user
reviews.
GARTNER is a registered trademark and service mark, and MAGIC
QUADRANT, HYPE CYCLE, and PEER INSIGHTS are trademark and service
mark, of Gartner, Inc. and/or its affiliates in the U.S. and
internationally and are used herein with permission. All rights
reserved.Gartner, Magic Quadrant for Analytics and Business
Intelligence Platforms, Kurt Schlegel, et al, 20 June 2024.
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About ThoughtSpot
ThoughtSpot is the AI-Powered Analytics company. Our mission is
to create a more fact-driven world with the easiest to use
analytics platform. With ThoughtSpot, anyone can leverage natural
language search powered by large language models to ask and answer
data questions with confidence. ThoughtSpot enables everyone within
an organization to limitlessly engage with live data in any popular
cloud data platform, making it easy to create and interact with
granular, hyper-personalized, and actionable insights. Customers
can take advantage of both ThoughtSpot’s web and mobile
applications to improve decision-making for every employee,
wherever and whenever decisions are made. With ThoughtSpot’s
low-code developer-friendly platform, ThoughtSpot Embedded,
customers can also embed AI-Powered Analytics to their products and
services, monetizing their data and engaging users to keep them
coming back for more. Organizations like T-Mobile, BT, Snowflake,
Daimler, CVS, OpenTable, Capital One, Huel, and Verisk Analytics
rely on ThoughtSpot to transform how their employees and customers
take advantage of data. Try ThoughtSpot today and see for
yourself.
PR Contact:
Lindsay Noonan
Director of Communications, ThoughtSpot
press@thoughtspot.com