Companies undoubtedly place a premium on business intelligence tools to support day to day operations within their organizations. In a competitive market experiencing monumental shifts of the digital business environment, delivering data to the right person at the right time has never been more mission critical.
Despite this, most BI solutions on the market today come up short. Whether a result of solutions that take too long to implement, keep data locked in IT units, are too difficult to use, or fail to address the dynamic and ongoing needs of end users, Business Intelligence today remains a problem with no clear solution.
If anyone is familiar with the challenges of BI, it’s former Radiant Systems co-founder Alon Goren. After grappling with the difficulty of accessing enterprise data during his tenure at Radiant, Goren founded AnswerRocket as the solution. The SAP HANA-powered solution allows business users to access enterprise data by simply asking questions. With a user experience more like an Internet search engine than your typical business intelligence tool, AnswerRocket finally democratizes data beyond IT and throughout the enterprise. AnswerRocket’s search-like user experience lets organizations observe, decide, and act faster than their competition.
Predicated on the belief that the efficacy of poring over data diminishes unless end users can utilize it to make smarter decisions, AnswerRocket delivers search results that impact business decisions on a minute by minute basis.
AnswerRocket leverages SAP HANA’s text and predictive analytics so users can ask highly sophisticated questions of their data- whether structured or unstructured- in real time. For organizations, there is no practical limit to the size of the data processed- AnswerRocket has successfully implemented on datasets with more than 10 billion rows.
Enterprises spend $16 billion each year on business intelligence and analytics software. However, widespread adoption across the organization remains low for these companies. Employees look for the same ease of use in their work as they do as consumers, making a search-driven analytics engine with a straightforward user interface like AnswerRocket the future.
Companies implementing AnswerRocket see positive returns in their business and also experience a cultural shift within their marketing and operations departments. Business users are able to spend more time doing analysis on meaningful data, leading to deeper questioning and informed, reasoned initiatives to drive core business processes. Within IT units, prioritization becomes less oriented around follow-up reporting and more aligned to strategic tasks.
For instance, one of AnswerRocket’s customers is a manufacturer’s representative selling thousands of parts from a large number of suppliers to their customers. Not only has AnswerRocket helped them better understand their inventory and sales, it’s also differentiated them as a distributor of choice. During a meeting with a $60B global supplier, they demonstrated how AnswerRocket enabled them to quickly answer questions about any product across any geography, demographic, or other dimension. The supplier awarded them their business, stating that one main reason was the knowledge of the business they were able to demonstrate with AnswerRocket.
Another customer had enormous amounts of data contained within SAP, but category managers were still relying upon spreadsheets to understand their business. These managers would spend hours each week downloading data and creating their own dashboards within Excel. Invariably, their initial data pull would spark deeper questions – at which point they needed to engage IT for assistance. And wait. With AnswerRocket, category managers can create their own dashboards in minutes. If they need additional data, they can ask AnswerRocket the questions themselves and get immediate answers.
In the next 5 years, customers will expect even more from big data and user-first UX. AnswerRocket will continue to meet and exceed the needs of the market, further developing its guided analytics product to include cognitive analytics and machine learning in the future. Having found appeal in several industries including retail and wholesale, AnswerRocket will continue its expansion as an intuitive, scalable, and agile solution for customers looking for the next generation of Business Intelligence that delivers on its promise.