The Strategist

Qlik: A Pioneer In Data Discovery To Face A Tough Competition

04/25/2015 - 14:50

Qlik has introduced a next step to the changing trend of data discovery with its natural analytics. According to a market analysis, if the company survives the intense market competition, it has a bright future. – 23 April 2015 – Along with the shifting trend of “the business analytics sector”, data discovery has come on the fore-ground. The said business sector is no more focussed on the “IT administrative” requisites, instead it is exploring the wider “departmental applications” all through the enterprise wherein “Qlik Technologies” has become a pioneering figure for its work “in the field of data discovery”.
Traditionally, most of the “business intelligence platforms” only catered to predetermined questions which were centred on various reports and requirements set by the enterprise IT. However, presently a changing trend is taking place as “data discovery is gaining strong traction in the market”. The said technology is about unconstrained data surveillance whereby insightful data can be harvested and analyzed to present them “in an interactive and visual format”.
Consequently, the task of the “business users” becomes easier as anyone without technical background can also operate analysis. It is a learning process wherein each step becomes a learning ‘stepping-stone’ whereby one can individually design the “next steps”. Qlik has been recognised as the pioneering leader in the said field, for the last consecutive three years, by the “Gartner’s Magic Quadrant for Business Intelligence and Analytics Platforms”.
Moreover, Qlik is busy with the development of its ‘next-gen’ technology which has been named as “natural analytics”. This ‘next-gen’ technology will prove to be a complementary tool besides data discovery. Forbes writes:
“Natural analytics is an approach to business intelligence that discovers and analyzes data according to human behavior and curiosity. It replicates the process through which the human mind interprets information and uncovers insights through connection, comparison and anticipation.”
Qlik has been emphasising on the user-friendliness and the inclusion of the visualization process into the software intelligence; the said attempt has been earned the company growth and recognitions to say the least. Nevertheless, “enterprise requirements” are not to be trifled away at this juncture. The I.D.C. informs that the market worth of business analytics amounted to $37.3 Billion in the year of 2013 which is likely to increase upto $ 59.2 billion by 2018.
Forbes reports that Gartner has introduced a new model called “governed data discovery” referring to a platform which will simultaneously attend to the requirements of the “enterprise-level IT” while supporting the users with ‘data discovery’. So far, this synthesis has never taken place earlier, however certain indications point to the possibilities of such convergence in the near future. Gartner’s “governed data discovery strikes “the right balance between” a creative liberty and sufficient “centralized control.
Inspires, by Gartner’s concept, Qlik is launching new features which will be more enterprise oriented relating to data reuse, data organisation, “data governance” and the notion of data scalability; the last being in line with Qlik’s new creation: “Qlik Sense”. It is an “in-memory technology”, which will enable rapid data analysis while reducing “data transactions”. In fact, the “Markets and Markets” predicts that the said technology of Qlik will aggregate its market value.
Keeping the “vast range of” functionalities in Qlik’s new products, the company is more likely “to increase its pricing”. The estimations show that by 2021 the company will mostly generate average revenue of $ 10,000 per customer.  Moreover, if the price of service does not increase, there could be a “downside to the Trefis” owing to the “overcrowded” market that gives Qlik an intense competition.