Big data and analytics are hot topic these days. Both are firmly embedded in almost every business dialogue. The amount of electronic data the world is producing each year is astonishing and is expected to see an incredible upsurge in the near future. According to one research, by 2020, an astonishing 600ZB (Zettabyte) of data will be generated in one single year by IoT applications alone. 39 times higher than current data center traffic. To gain meaningful insights from this mammoth amount of data, organizations will need to establish an analytical framework that will be able to convert raw data into valuable insights within quickest possible time.
One such firm that provides cutting-edge data analytics solution is Panoply. This company is known for converting raw data into meaningful analysis extremely fast; in fact, the initial steps can take only 10 minutes. It provides a smart data warehouse for BI that is able to learn and streamline the entire analytical data lifecycle to BI and take IT out of the loop. Their unique self-optimizing architecture uses machine learning and natural language processing to model normalize and optimize the entire analytical data journey from source to analysis. Automation of the process to a point which enables BI to master integration, infrastructure, and query optimization helps offset its inherent inefficiencies and incredibly reduces the time required to gain insights from data.
Panoply was founded in 2015 with a mission to eliminate the time and effort from data to insights. Within this short span of time, the company has successfully transformed its mission into a reality gaining over 100 customers in its first year of sales. Panoply built the world’s first cloud-based smart data warehouse for BI which expedites the journey of migrating raw data to analytics using machine learning and natural language processing. Panoply’s Smart Data Warehouse automates data integration, elastic data management, and query optimization. The company is privately owned and has attracted investments from leading VCs such as Intel Capital, C5 Capital, 500 Startups, and Blumberg Capital.
The vital aspect which makes Panoply’s Smart data warehouse unique among its peers is its approach towards crafting solutions. It is the first company of its kind that looks at the challenges companies are facing with their data and provides a holistic solution that solves the challenges from a company point of view instead of a developer point of view. Panoply sees the entire Analytical data lifecycle as a business intelligence challenge instead of the traditional IT-oriented approach.
USP of Panoply
With no modeling, no schema, and no configuration settings required, Panoply uses machine learning and natural language processing to learn, model and automate the typical data management activities, generally performed by data engineers, server developers and data scientists, and thus saves thousands of code lines and countless hours of debugging and research. Their biggest differentiator is their simplicity. They provide BI the ability to harness technologies that were, till now, monopolized by IT (73% of Panoply’s buyers are what you would call ‘non IT’ meaning not developers or traditional IT technology buyers). This breaks down a major barrier for companies to harness data; it streamlines the processes and eliminates the 80% inefficiency inherent in the original process.
Leading Lights of Panoply
Yaniv Leven is the CEO and Co-founder of Panoply. An MSc, Finance graduate from Tel Aviv University, Yaniv is known for his adept business analytics skills. Prior to founding Panoply, he has been associated with various firms which he has worked for in different capacities. He has vast corporate experience of over a decade and has served as Director of Finance and COO at Mytopia and COO (Head of Operations and Analytics) at Win among other. At Mytopia Yaniv managed CRM, marketing, analytics departments and played a key role in the successful execution of the $48M sale of a company. Yaniv Co-founded Panoply with Roi Avinoam, former CTO of Win and Mytopia, the founders have been working together for over a decade.
Future of Big Data from Leaders Point of View
The growth of data has created massive data graveyards in many organizations and the fragmentation of data sources makes many sources inaccessible for proper analytics, these two challenges have occurred mainly due to the 40-year-old process of warehousing that hasn’t changed much. Yaniv believes that due to the growth and fragmentation of data the industry will witness a massive transformational change in the very near future. “Historically the industry has treated this challenge as a technology problem,” says Yaniv Leven “Panoply has a radical approach to this, believing that more than anything, this is fundamentally a ‘process’ problem that can be overcome with technology. This fundamental understanding is so hard to contemplate, which is why I believe the leaders of the cloud analytics industry a decade from now will not be the same leaders we have today”
Panoply’ Road Ahead
The company is exercising its efforts for ‘an alpha prototype of new querying technology’ which will be introduced into the Panoply architecture and will revolutionize Panoply’s capabilities further. This technology is set to be released by the end of Q3 to strengthen the company’s mission “eliminate the time and efforts from raw data to insights”.