This report from Gartner expects business intelligence (BI) and analytics software market to reach $18.3 billion in 2017, an increase of 7.3 percent from 2016. By the end of 2020, the market is forecast to grow to $22.8 billion. For this week’s posts, click on the paragraph links. >>>
Sramana Mitra: I think where they’re doing phenomenally well is in advertising targeting.
Rich Green: Yes, is it because they’re just smarter or because they have a simpler problem to solve? Is it much more controllable?
Sramana Mitra: I think you’re right. It’s a simpler problem to solve. It’s structured data versus unstructured data. A lot of that advertising stuff is structured. >>>
Entrepreneurs are invited to the 341st FREE online 1M/1M roundtable mentoring session on Thursday, February 23, 2017, at 8 a.m. PST/11 a.m. EST/9:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
In case you missed it, you can listen to the recording here:
Sramana Mitra: I’m going to switch back on that and say that in the CRM world, you will see very solid adoption and very quickly IF it works. Sales people are motivated by making money. If you can create algorithms and technology that will help them in making money faster and quicker, they will adopt your technology like crazy.
Rich Green: The if thing is extremely important. In fact, one of the things we’re bearing down hard on very aggressively in this first generation of release is accuracy. When you go out and build a dossier on an individual, you’d better be sure that the thing you’re providing to that salesperson is accurate. It isn’t enough to provide bulk. It has to be highly tuned. They’re much more interested in fewer bits that are absolutely accurate >>>
Sramana Mitra: What I’m hearing is that your retailers are looking for two things. One is they’re looking to do more customization because the experience that they need to provide is more sophisticated. At the same time, they’re looking to cut down on implementation times. Those are the two trends that summarize this conversation. Is that accurate?
Arish Ali: Yes. In the lower end of the retailer spectrum, they’re like, “I want it all fully managed.” The upper end is the opposite. They also don’t want to continue with existing legacy platforms because they’re not good enough. They realize that if their companies are pitted against companies like Amazon, they really have to differentiate. That’s where technology and platform can make a big difference. >>>
Sramana Mitra: I happen to know enough about what you’re talking about. I know it’s not simple at all.
Rich Green: Yes. In terms of practical near-term use, these kinds of technology are already under examination by a very large customer. That’s some examples of where we are now.
Sramana Mitra: I’ve done a bunch of startups and we also have startups who are doing similar things. Since this stuff has not really penetrated into the customer accounts, there is a question that is hanging around. Will this work? In the history of AI, there are certain things that are working. We’ve obviously crossed the threshold of that question. If you look at the field of media buying, it has become a fully automated procedure. >>>
Cedar Valley, Utah-based EdTech company, and Billion Dollar Unicorn member Pluralsight is expected to go public soon. According to TechNavio, the global corporate e-learning market is expected to grow 11% annually to be worth $31 billion by 2020. Pluralsight has its eyes set on this fast-paced market.