Originally published 12 April 2010
Just one month after launching TIBCO Spotfire 3.1, TIBCO Software Inc. recently announced widespread industry momentum for the latest version of its in-memory analytics platform that makes predictive analytics accessible within Spotfire’s visual user experience. Spotfire 3.1 responds faster than BI and allows more flexibility than spreadsheets, equipping everyone in the enterprise – whether in business, technical, or scientific roles – to easily analyze complex data, customize their discovery experience, and share their story through mashups, portals, or interactive dashboards.
eWEEK, an award-winning leader for up-to-date, innovative technology information, has named TIBCO Spotfire 3.1 as one of its “Products to Watch” for 2010. eWEEK distinguished Spotfire for allowing organizations to bring the power of the widely-adopted R language to the Spotfire platform “to perform advanced what-if analysis and sophisticated analytics.” With this capability, editors noted that “decision-makers can use this insight to play out what-if scenarios as they develop business strategies.”
“Spotfire’s products have continuously delivered new ways to take advantage of the data flowing around our organization,” said Andre Kooy, CEO at Quintus Consultants, a European consultancy firm that specializes in analytics. “TIBCO Spotfire 3.1 offers the kind of flexible, powerful, and extremely usable analytic experience that our business users depend upon, and we expect these new visualization capabilities and performance enhancements to keep us at the head of our market in helping our organization and our customers find more strategic insights in our data.”
Commenting on the growing trend of predictive analytics and its accessibility to mainstream business users, BIScorecard Founder and Intelligent Enterprise Blogger Cindi Howson recently wrote a blog post entitled “Mainstream BI or Mainstream Predictive Analytics” that notes, “while ‘mainstream BI’ may still be more of a vision, this release of Spotfire [3.1] brings ‘mainstream predictive analytics’ one step closer to reality.”
According to Howson, “In Spotfire 3.1, there are two new aspects that make predictive analytics more accessible to the final decision-makers. First, are parameters that allow a business user to select the variables that go into the model … Second, the business user can see the results of the model via an intuitive dashboard from within Spotfire. The R engine is still processing the model behind the scenes, but the results don’t stay off to the side as is often the case today.”
“This early recognition validates exactly what our customers are saying – that Spotfire 3.1 is filling the ‘analysis gap’ that has forced so many business and technical professionals to resort to spreadsheets for their predictive analytic needs,” said Lars Bauerle, vice president product strategy for Spotfire, TIBCO Software Inc. “No other vendor combines five key elements – clarity of visualization, freedom of spreadsheets, relevance of applications, confidence of statistics, and reach of reports – in a single user experience. Our continued momentum, along with this industry acknowledgment, is a clear indicator of the value Spotfire’s technology delivers and its importance to our customers’ top and bottom lines.”