Birst: Making Data Into The World's Most Valuable Natural Resource

Jan 13 2014, 9:08am CST | by

Birst: Making Data Into The World's Most Valuable Natural Resource

While the 20th century was about oil, the next century is going to be about data. This is what the CEO of IBM, Ginni Rometty, thinks. She calls data a “natural resource.”

While it’s heady stuff, the vision does seem reasonable.  Just some of the powerful forces driving this include: the relentless growth in mobile devices and the prevalence of sensors, as well as trends like cloud computing, social media and dirt-cheap storage.

Although, there is something else that’s absolutely critical: analytics software.

As should be no surprise, there is a growing number of providers hitting the market. But there is one that has been able to stand out – that is, Birst.

No doubt, the CEO and co-founder of the company, Brad Peters, definitely has the right background. While at Siebel – which is now a part of Oracle – he led the Analytics business. It was actually the key for its growth.

However, he saw that using on-premise software was far from ideal. So when he launched Birst in 2005, he built the software as a cloud app. It would allow for a much more effective platform for collecting and analyzing data across diverse sources.

“If you are in the marketing department,” said Brad, “Birst can consolidate information on purchases, returns, service interactions and so on. From this, you can get a better view of your customers across different touch points. Or, you can do something similar on the sales side by bringing in data from CRM systems and other data sources. From this, you can get an idea of how deals are progressing, such as looking at lead-to-close.”

In other words, Birst is not just a fancy set of dashboards. “We are much more than a UI for building charts,” said Brad. “Dashboards have become commoditized.”

But unlike traditional on-prem analytics tools, the technology is meant for broad appeal. “From the start,” said Brad, “we wanted to make it easy for anyone to use analytics. You no longer have to be a data scientist.”

And when everyone in an organization is using analytics, the impact can be transformative. After all, look at how companies like Amazon.com, Netflix and Google have done this. It can seem like magic.

To highlight this, Brad offers an interesting example: “Let’s suppose you have 100 employees and you want to expand. One approach is to, say, hire 10 more people. Or, using another strategy, you can make each of your 100 employees 10% more productive. You’ll get the same impact.”

And of course, this is what next-generation analytics products can do today – and at prices that many companies can afford.

Tom Taulli (@ttaulli) operates MasterCFO, which helps early-stage companies with accounting, payroll and taxes.

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

5 features an Amazon phone might offer
NEW YORK (AP) — Rumors of an Amazon smartphone reached a fever pitch this week, with the Wall Street Journal reporting that the device could be due out this year. Amazon hasn't confirmed that it has plans...
 
 
Why Drink Organic, Biodynamic And Sustainable Wines For Earth Day?
Six Organic Wines To Try Now Talking about organic wine is surprisingly complicated. When I set out to write this column I planned on rounding up some organic producers, tasting some wines and calling out the tastiest...
 
 
Washington's Anxiety as the President Heads to Asia
Anxiety is everywhere these days in the debate over U.S. policy toward Asia. Here in Washington, there seems to be deep anxiety about the Obama administration’s ability to fulfill its promise to rebalance to Asia. In...
 
 
'The Elder Scrolls Online' Hit With First Major Bug, The Infinite Dupe
When you make an MMO, you will eventually learn a hard lesson about how a single bug can derail your entire game. Right now, that’s exactly what’s happening with The Elder Scrolls Online. Players are rolling around in...
 
 
 

Latest from the Network

iOS 6 Users Facing Problems with FaceTime
The iOS 6 users are getting frustrated with the FaceTime, a popular video calling software, as it is continuing to crash in their iPhones and iPads.The users have informed the problem on a thread of Apple Support...
Read more on Apple Balla
 
Apple Offering Redesigned iPad Mini with Retina Display at 15% Discount
Apple brings a great offer for the iPad lovers, as the company decides to sell the refurbished model of iPad Mini with Retina display with a great discount of 15%.According to Apple Insider, the 16-GB model is being...
Read more on Apple Balla
 
SungardASVoice: Three Things Businesses Can Learn From The Decline Of American Idol
By Adam Wren Thirteen years into its prime-time run, “American Idol” is a brand in decline. But the kinds of things the show can do–and, in some cases, is doing–to change its fortunes can serve as an example to other...
Read more on Apple Balla
 
Justin Bieber crashed Drake Bell's party
Justin Bieber crashed Drake Bell's album party on Thursday night (04.17.14). The 20-year-old singer - who has been repeatedly attacked by the former Nickelodeon star on Twitter in recent months - went out of his way to...
Read more on Celebrity Balla
 
5 features an Amazon phone might offer
NEW YORK (AP) — Rumors of an Amazon smartphone reached a fever pitch this week, with the Wall Street Journal reporting that the device could be due out this year. Amazon hasn't confirmed that it has plans...
Read more on Business Balla
 
Asia's Week: Japan's Rebound Gets More Taxing
Another calamitous loss of human life gripped Asia’s attention this week, relegating economic matters to secondary notice, but they were also of concern. China’s growth pauses never cease to furrow brows but it is Japan...
Read more on Auto Balla
 
Why Drink Organic, Biodynamic And Sustainable Wines For Earth Day?
Six Organic Wines To Try Now Talking about organic wine is surprisingly complicated. When I set out to write this column I planned on rounding up some organic producers, tasting some wines and calling out the tastiest...
Read more on Business Balla
 
Washington's Anxiety as the President Heads to Asia
Anxiety is everywhere these days in the debate over U.S. policy toward Asia. Here in Washington, there seems to be deep anxiety about the Obama administration’s ability to fulfill its promise to rebalance to Asia. In...
Read more on Business Balla
 
'The Elder Scrolls Online' Hit With First Major Bug, The Infinite Dupe
When you make an MMO, you will eventually learn a hard lesson about how a single bug can derail your entire game. Right now, that’s exactly what’s happening with The Elder Scrolls Online. Players are rolling around in...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla