Spotfire


Tableau Software (symbol DATA) did something that nobody or almost nobody in BI and/or Data Visualization (DV) field did before with this or larger size of Revenue. Tableau in their last Quarter of 2013 Fiscal Year (reported last week) increased their Year-over-Year Ratio for both Quarterly accounting (95%) and Yearly accounting (82%, way above all DV and BI competitors) while dramatically increased their Revenue to $232M per Year, see it here: http://investors.tableausoftware.com/investor-news/investor-news-details/2014/Tableau-Announces-Fourth-Quarter-and-Full-Year-2013-Financial-Results/default.aspx.

You can compare on diagram below the growth of 3 competitors over last 6 years (2008-2013, Spotfire sales unavailable since TIBCO (symbol TIBX) bought it): BI veteran Microstrategy (bluish line slowing down last 2+ years), largest DV vendor Qliktech (symbol QLIK, red line, decreasing Year-over-Year growth) and fastest growing DV Vendor Tableau (yellow line with Record Year-over-Year growth):

DVMomentum2008_2013a

Tableau stock was and is overpriced since its IPO (e.g. today EPS is -0.19 and P/E ratio is very high, see it here: http://ycharts.com/companies/DATA/pe_ratio). If you follow Warren Buffet (Buy Low, Sell High), today is a good day to sell a DATA stock, unless you intend to hold it for long or forever. However many people ignore Warren and volume of buying for last few days was above average (780K for DATA) and above 1 million shares per day (e.g. on 2/5/14 it was 4.4M of shares). On OpenInsider you can find at least 2 people, who agreed with Warren and sold during last few days 700000 Tableau’s shares for total $62M+ (guess who it can be? Chris and Christian – part of 1% since 5/17/13 IPO…):

http://openinsider.com/screener?fd=0&td=365&s=DATA&o=&sicMin=&sicMax=&t=s&minprice=&maxprice=&v=0&sortcol=0&maxresults=500

As the result, the $DATA (Tableau’s Symbol) jumped up $10+ from already overvalued share price to $97+ after 2/14/14, today it added $5 (click on image below to enlarge it) to share price and keeps going up:

DATAvsQLIKvsTIBXvsDWCH_110413to021414

BY end of 2/14/14 Tableau’s Market Capitalization went over $5.96B, twice more then Qliktech’s MarketCap (which is almost the same as a year ago) and $2B more then TIBCO’s MarketCap (which is almost the same as a year ago)! Basically, Tableau’s MarketCap as of end of trading day today is almost the same as combined MarketCap of QLIK and TIBX.

For me the more important indicator of company’s growth is a “HRI” (Hiring Rate Indicator as the ratio of the number of open positions to the number of Full-Time employees of the company). As of today, Tableau has 216 job openings (current estimate is has about 1100 employees), Qliktech has 101 openings (while employed 1700 people) and Spotfire has about 34 open positions (current estimate of number of Spotfire Employees is difficult because it is completely inside TIBCO, but probably still below 500). It means that Tableau’s HRI is 19.6%, Qliktech’s HRI is 5.9% and Spotfire’s HRI is below 6.8%.

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This is a repost from Data Visualization Consulting Page.

Visitors of this blog generated a lot of requests for my Data Visualization “Advice” (small projects for a few hours or days, no NDA [Non-Disclosure Agreement] involved), for Data Visualization Consulting projects (a few weeks or months; I tend to avoid the NDAs as they can interfere with my blogging activities) and even for Full-time work (for example my latest full-time job I got because my employer often visited and read my blog; NDA needed).

Additionally, sometimes I am doing free-of-charge work, if involved projects are short, extremely interesting for me and beneficial for my Data Visualization Blog, like this project:

https://apandre.wordpress.com/2014/01/12/motion-map-chart/

Obviously all these projects can be done only when I have spare time either from full-time work and/or other projects, duties and activities.

I also cannot relocate or travel, so I can do it mostly from my home office – telecommuting (RDP, Skype, phone, WebEx, GoToMeeting etc.) or if client is local to Massachusetts, then sometime I can visit Client’s site, see below the Map of my Local “Service Area” – part of Middlesex County between Routes 495, 3 and 20 – where I can commute to Client’s Location (please click on map below to enlarge the image) :

DVServiceArea

If I do have time for short-term advisory projects (from 2 hours to 2 weeks), clients usually pay by the highest rate, similar to what Qliktech, Spotfire, Tableau or IBM charging for their Consulting Services (I consider my consulting as better service than theirs…). If you will go to this thread on Tableau Community:

http://community.tableausoftware.com/thread/127338 then you will find these Indicative Rates for Consulting Tableau Work (Qlikview and Spotfire Rates are very similar):

Low $125,  Max $300,  Average around $175 per hour.

Here are the most popular requests for my Advisory work:

  • Visual Design and Architectural Advice for Monitoring or Operational Dashboard(s);
  • Review of Data Visualization Work done by my Clients;
  • Prototyping of Data Visualizations (most requested by my visitors);
  • My opinion on Strengths and Weaknesses of Data Visualization Vendor/Product, requested by trader, portfolio or hedge fund manager(s)
  • Advice about what Hardware to buy (say to get the most from Tableau License client has);
  • Advice what Charts and Filters to use for given Dataset and Business Logic;
  • Technical Due Diligence on Data Visualization Startup for Venture Capitalists investing into that Start-up.
  • Etc…

3Paths4Options

For mid-size projects (from 2 weeks to 6 months) clients getting a “Progressive” discount – the longer the project then the larger the discount. Here are the most popular requests for my Consulting Data Visualization Work:

  • Comparing Data Visualization Product vs. Other Visualization Product for specific Client’s needs and projects;
  • Comparing Clients’s Visualization Product vs. Competitor(s) Visualization Product (most requested);
  • Benchmarking one or more Visualization Product(s) vs. specific data and application logic.
  • Managed Clients migration of their Reporting and Analytical IT Infrastructure from obsolete BI Platforms like Business Objects, Cognos and Microstrategy to modern Data Visualization Environments like Tableau, Qlikview and Spotfire.
  • Etc.

Solution

Full-time work (1 year or more engagements) is not exactly a Consulting but Full-time job when clients asking me to join their company. These jobs are similar to what I had in the past: Director of Visual Analytics, Data Visualization Director, VP of Data Visualization, Principal Data Visualization Consultant, Tableau Architect etc. Here are samples of full-time projects:

  • Created, Maintained and Managed the Data Visualization Consulting Practices for my company/employer;
  • Led the growth of Data Visualization Community (the latest example – 4000 strong Tableau Community) with own Blog, Portal and User Group behind the corporate firewall, created Dozens of near-real-time Monitoring Dashboards for Analytical and Data Visualization Communities;
  • Designed and Implemented myself hundreds of Practical Data Visualizations and Visual Reports, which led to discovery of trends, outliers, clusters and other Data Patterns, Insights and Actions;
  • Created hundreds of Demos, Prototypes and Presentations for Business Users;
  • Designed Data Visualization Architecture and Best Practices for Dozen of Analytical Projects;
  • Significantly improved the Mindshare and increased the Web Traffic to website of my company, Created and Maintained the Data Visualization blog for it.

You can find more observations about relationship between Full-Time salary and Hourly Rate for consulting in my previous post (from 6 months ago) here: https://apandre.wordpress.com/2013/07/11/contractors-rate/

2 months ago TIBCO (Symbol TIBX on NASDAQ) announced Spotfire 6 at TUCON 2013 user conference. This as well a follow-up release  (around 12/7/13) of Spotfire Cloud supposed to be good for TIBX prices. Instead since then TIBX lost more then 8%, while NASDAQ as whole grew more then 5%:

TIBXvsNasdaqFrom1014To121313

For example, at TUCON 2013 TIBCO’s CEO re-declared “5 primary forces for 21st century“(IMHO all 5 “drivers” sounds to me like obsolete IBM-ish Sales pitches) – I guess to underscore the relevance of TIBCO’s strategy and products to 21st century:

  1. Explosion of data (sounds like Sun rises in the East);

  2. Rise of mobility (any kid with smartphone will say the same);

  3. Emergence of Platforms (not sure if this a good pitch, at least it was not clear from TIBCO’s presentation);

  4. Emergence of Asian Economies (what else you expect? This is the side effect of the greedy offshoring for more then decade);

  5. Math trumping Science  (Mr. Ranadive and various other TUCON speakers kept repeating this mantra, showing that they think that statistics and “math” are the same thing and they do not know how valuable science can be. I personally think that recycling this pitch is dangerous for TIBCO sales and I suggest to replace this statement with something more appealing and more mature).

Somehow TUCON 2013 propaganda and introduction of new and more capable version 6 of Spotfire and Spotfire Cloud did not help TIBCO’s stock. For example In trading on Thursday, 12/12/13 the shares of TIBCO Software, Inc. (NASD: TIBX) crossed below their 200 day moving average of $22.86, changing hands as low as $22.39 per share while Market Capitalization was oscillating around $3.9B, basically the same as the capitalization of 3 times smaller (in terms of employees) competitor Tableau Software.

As I said above, just a few days before this low TIBX price, on 12/7/13, as promised on TUCON 2013, TIBCO launched Spotfire Cloud and published licensing and pricing for it.

Most disappointing news is that in reality TIBCO withdrew itself from the competition for mindshare with Tableau Public (more then 100 millions of users, more then 40000 active publishers and Visualization Authors with Tableau Public Profile), because TIBCO no longer offers free annual evaluations. In addition, new Spotfire Cloud Personal service ($300/year, 100GB storage, 1 business author seat) became less useful under new license since its Desktop Client has limited connectivity to local data and can upload only local DXP files.

The 2nd Cloud option called Spotfire Cloud Work Group ($2000/year, 250GB storage, 1 business author/1 analyst/5 consumer seats) and gives to one author almost complete TIBCO Spotfire Analyst with ability to read 17 different types of local files (dxp, stdf, sbdf, sfs, xls, xlsx, xlsm, xlsb, csv, txt, mdb, mde, accdb, accde, sas7bdat,udl, log, shp), connectivity to standard Data Sources (ODBC, OleDb, Oracle, Microsoft SQL Server Compact Data Provider 4.0, .NET Data Provider for Teradata, ADS Composite Information Server Connection, Microsoft SQL Server (including Analysis Services), Teradata and TIBCO Spotfire Maps. It also enables author  to do predictive analytics, forecasting, and local R language scripting).

This 2nd Spotfire’s Cloud option does not reduce Spotfire chances to compete with Tableau Online, which costs 4 times less ($500/year). However (thanks to 2 Blog Visitors – both with name Steve – for help), you cannot use Tableau online without licensed version of Tableau Desktop ($1999 perpetual non-expiring desktop license with 1st year maintenance included and each following year 20% $400 per year maintenance) and Online License (additional $500/year for access to the same site, but extra storage will not be added to that site!) for each consumer. Let’s compare Spotfire Workgroup Edition and Tableau Online cumulative cost for 1, 2, 3 and 4 years for 1 developer/analyst and 5 consumer seats :

 

Cumulative cost for 1, 2, 3 and 4 years of usage/subscription, 1 developer/analyst and 5 consumer seats:

Year

Spotfire Cloud Work Group, 250GB storage

Tableau Online (with Desktop), 100GB storage

Cost Difference (negative if Spotfire cheaper)

1

$2000

$4999

-$2999

2

$4000

$8399

-$4399

3

$6000

$11799

-$5799

4

$8000

$15199

$7199

UPDATE: You may need to consider some other properties, like available storage and number of users who can consume/review visualizations, published in cloud. In sample above:

  • Spotfire giving to Work Group total 250 GB storage, while Tableau giving total 100 GB to the site. 2 or more subscriptions can be associated with the same site, but it will not increase the size of storage for the site from 100 GB to more (e.g. 200 GB for 2 subscribers). 
  • Spotfire costs less than Tableau Online for similar configuration (almost twice less!)

Overall, Spotfire giving more for your $$$ and as such can be a front-runner in Cloud Data Visualization race, considering that Qlikview does not have any comparable cloud options (yet) and Qliktech relying on its partners (I doubt it can be competitive) to offer Qlikview-based services in the cloud. Gere is the same table as above but as IMage (to make sure all web browsers can see it):

SFvsTBCloudPrice

It is important to consider another advantage of Spotfire Cloud: ability to share visualizations with everybody on internet by publishing them into Public Folder(s). By contrast, Tableau has limited licensing for this: in order to access to published workbooks on Tableau Online site, the Tableau Software by default requires the extra subscription, which is wrong from my point of view, because you can just publish it on Public Folder of such site (if such option allowed). By default (and without additional negotiations) Tableau Online does not allow the usage of Public Folder.

3rd Spotfire’s Cloud option called Spotfire Cloud Enterprise, it has customizable seating options and storage, more advanced visualization, security and scalability and connects to 40+ additional data sources. It requires an annoying negotiations with TIBCO sales, which may result to even larger pricing. Existence of 3rd Spotfire Cloud option decreases the value of its 2nd Cloud Option, because it saying to customer that Spotfire Cloud Work Group is not best and does not include many features. Opposite to that is Tableau’s Cloud approach: you will get everything (with one exception: Multidimensional (cube) data sources are not supported by Tableau Online) with Tableau Online, which is only the option.

Update 12/20/13:  TIBCO announced results for last quarter, ending 11/30/13 with Quarterly revenue $315.5M (only 6.4% growth compare with the same Quarter of 2012) and $1070M Revenue for 12 months ended 11/30/13 (only 4.4% growth compare with the same period of 2012). Wall Street people do not like it today and TIBX lost today 10% of its value, with Share Price ending $22 and Market Capitalization went down to less then $3.6B. At the same time Tableau’s Share Price went up $1 to $66 and Market Capitalization of Tableau Software (symbol DATA) went above $3.9B). As always I think it is relevant to compare the number of job openings today: Spotfire – 28, Tableau – 176, Qliktech – 71

My previous blogpost, comparing footprints of DV Leaders (Tableau 8.1, Qlikview 11.2, Spotfire 6) on disk (in terms of size of application file with embedded dataset with 1 million rows) and in Memory (calculated as RAM-difference between freshly-loaded (without data) application and  the same application when it will load appropriate application file (XLSX or DXP or QVW or TWBX) got a lot of feedback from DV Blog visitors. It even got mentioning/reference/quote from Tableau Weekly #9 here:

http://us7.campaign-archive1.com/?u=f3dd94f15b41de877be6b0d4b&id=26fd537d2d&e=5943cb836b and the full list of Tableau Weekly issues is here: http://us7.campaign-archive1.com/home/?u=f3dd94f15b41de877be6b0d4b&id=d23712a896

The majority of feedback asked to do a similar Benchmark – the footprint comparison for larger dataset, say with 10 millions of rows. I did that but it required more time and work,  because the footprint in memory for all 3 DV Leaders depends on the number of visualized Datapoints (Spotfire for years used the term Marks for Visible Datapoints and Tableau adopted these terminology too, so I used it from time to time as well, but I think that the correct term here will be “Visible Datapoints“).

3Footprints

Basically I used the same dataset as in previous blogpost with main difference that I took subset with 10 millions of rows as a opposed to 1 Million rows in previous Benchmarks. The Diversity of used Dataset with 10 Million rows is here (each row has 15 fields as in previous benchmark):

I removed from benchmarks for 10 million rows the usage of Excel 2013 (Excel cannot handle more the 1,048,576 rows per worksheet) and PowerPivot 2013 (it is less relevant for given Benchmark). Here are the DV Footprints on disk and in Memory for Dataset with 10 Million rows and different number of Datapoints (or Marks: <16, 1000, around 10000, around 100000, around 800000):

Main observations and notes from benchmarking of footprints with 10 millions of rows as following:

  • Tableau 8.1 requires less (almost twice less) disk space for its application file .TWBX then Qlikview 11.2 (.QVW) for its application file (.QVW) or/and Spotfire 6 for its application file (.DXP).

  • Tableau 8.1 is much smarter when it uses RAM then Qlikview 11.2 and Spofire 6, because it takes advantage of number of Marks. For example for 10000 Visible Datapoints Tableau uses 13 times less RAM than Qlikview and Spotfire and for 100000 Visible Datapoints Tableau uses 8 times less RAM than Qlikview and Spotfire!

  • THe Usage of more than say 5000 Visible Datapoints (even say more than a few hundreds Marks) in particular Chart or Dashboard often the sign of bad design or poor understanding of the task at hand; the human eye (of end user) cannot comprehend too many Marks anyway, so what Tableau does (in terms of reducing the footprint in Memory when less Marks are used) is a good design.

  • For Tableau in results above I reported the total RAM used by 2 Tableau processes in memory TABLEAU.EXE itself and supplemental process TDSERVER64.EXE (this 2nd 64-bit process almost always uses about 21MB of RAM). Note: Russell Christopher also suggested to monitor TABPROTOSRV.EXE but I cannot find its traces and its usage of RAM during benchmarks.

  • Qlikview 11.2 and Spotfire 6 have similar footprints in Memory and on Disk.

More than 2 years ago I estimated the footprints for the sample dataset (428999 rows and 135 columns) when it encapsulated in text file, in compressed ZIP format, in Excel 2010, in PowerPivot 2010, Qlikview 10, Spofire 3.3 and Tableau 6. Since then everything upgraded to the “latest versions” and everything 64-bit now, including Tableau 8.1, Spotfire 5.5 (and 6), Qlikview 11.2, Excel 2013 and PowerPivot 2013.

I decided to use the new dataset with exactly 1000000 rows (1 million rows) and 15 columns with the following diversity of values (Distinct Counts for every Column below):

Then I put this dataset in every application and format mentioned above – both on disk and in memory. All results presented below for review of DV blog visitors:

Some comments about application specifics:

  • Excel and PowerPivot XLSX files are ZIP-compressed archives of bunch of XML files

  • Spotfire DXP is a ZIP archive of proprietary Spotfire text format

  • QVW  is Qlikview’s proprietary Datastore-RAM-optimized format

  • TWBX is Tableau-specific ZIP archive containing its TDE (Tableau Data Extract) and TWB (XML format) data-less workbook

  • Footprint in memory I calculated as RAM-difference between freshly-loaded (without data) application and  the same application when it will load appropriate application file (XLSX or DXP or QVW or TWBX)

In past Vikings discovered America, conquested or colonized parts of England, Russia, Ireland, Scotland, even Southern Italy and Iceland… But in 21st century (as far as this blog is concerned) Sweden became a Motherland of Data Visualization:

4SwedishDVVendorsLogosLet’s start with most famous Data Viking and most known Storyteller in Data Visualization field – prof. Hans Rosling from Karolinska Institutet and chairman of the Gapminder Foundation (in Stockholm). Gapminder’s team invented the popular and useful 6-dimensional Motion Chart and developed Trendalizer which was bought by Google in 2007, see it here: https://developers.google.com/chart/interactive/docs/gallery/motionchart . The recent example of Prof. Rosling Storytelling you can see  here:

In Stockholm you can find another Data Visualization Innovator – Panopticon is a leader in Complex Even Processing and real-time Visual Analytics. Among other innovation here is the example of Panopticon’s invention (by its senior developer Hannes Reijner) of Horizon Chart, see sample here:

HorizonGraph

and short video about it here:

In 2012 Panopticon posted 112% Year-Over-Year revenue growth (comparable with Tableau). In 2013 (the all stock deal closed by the end of September, 2013.) Datawatch bought Panopticon for $31.4M and I assume it will try to move some R&D from Sweden to Chelmsford, MA.

In  Göteborg/Gothenburg you can find R&D office of another DV Leader – Spotfire with 60+ Data Vikings. In 2007 TIBCO bought Spotfire for $195M but even now in 2013 unable to move R&D into USA. So now Spotfire actually has 3+ main offices: TIBCO Corporate Headquarters in California, Spotfire Headquarters in Somerville, MA (estimate is 15% of Spotfire workforce) and main R&D office in Sweden. In addition, lately TIBCO choose the strategy to buy rather then build new features, for example, just in 2013 they added to Spotfire portfolio the following new companies and as result they have even more distributed R&D team now:

  • Extended Results (PushBI) in Redmond, WA
  • MAPORAMA in Paris, France
  • StreamBase Systems, Inc. in Waltham, MA

As a result, despite the fact that Spotfire 6 is the most mature Data Visualization platform on market, people in TIBCO Corporate Headquarters running into risk of do not have enough knowledge of their own major Intellectual Properties.

In southern Sweden – Lund, we can find Swedish Headquarters of the major DV Leader – Qliktech, who occupied almost half of Data Visualization market in terms of sales. At least 140 Data Vikings located in Lund and may be another 200 elsewhere in Sweden. Qliktech’s Data Vikings are major innovators with features like the fastest in-memory Data Engine, most natural Visual Drill-down, Associative Query Language to name a few. This also presents a major problem for Qliktech, because they have Headquarter in Radnor, PA (where only 150+ employees work (estimate), which is less then 10% of Qliktech’s workforce!), Main marketing, sales and support office in Newton, MA (estimate: less then 5% of workforce) and most R&D in Lund (estimate: at least 10% of workforce).

This means that almost 500 technically advanced Data Visualization experts (engineers, developers, architects etc., which is at least 23% of total Qliktech+Spotfire workforce) are still in Sweden. The simple observation of Tableau’s TCC13 conference in September 2013 shows that Tableau’s top managers and officers know their product deeper and more intimately then their counterparts in Qliktech and Spotfire. That is very easy to explain: because 650+ Tableau’s employees (almost 65% of their workforce and most developers, managers and officers) work in the same Main HQ office in Seattle, WA and they obviously talking to each other in-person and often!

My humble advice to Qliktech, Spotfire and Datawatch is simple – gradually relocate as much Data Vikings from Sweden to appropriate headquarters in USA or find and hire local american equivalents of those Swedish geniuses…

As a background for this advice, please consider this information (updated on 11/17/13): statistics of job openings clearly showing that all 3 DV Leaders keep doing (by inertia) what they did in past with only difference that it worked recently for Tableau and does not work for Qliktech and Spotfire. Here are specific examples:

  • Tableau has 176 job openings (much more then Qlikview (only 80) and Spotfire(only 18) combined)!

  • 97 (55%) of Tableau openings are in Seattle, more then half of Tableau’s openings are engineering and technical positions!

  • Qliktech has 17 (21%) positions opened in Lund, only 10 (12%) in Radnor and 4 (5%) in Newton, MA. Only 11 (14%, 9 times less then at Tableau in absolute numbers) Qliktech’s openings are engineering and technical.

  • Spotfire has only 18 openings (1 in Göteborg, 5 in CA, 4 in MA) and only 4 Spotfire’s positions (out of 18, 22% that is) are engineering or technical.

This statistics clearly showing that neither Qliktech no TIBCO see the wrong pattern and huge problem here and that can be a reason for disruption in the future and the gradual  relocation of Data Vikings is only way to prevent the danger… And of course, if you can afford, find and hire equal talents in USA Headquarters then by all means keep geniuses in Sweden without relocation which is a half-similar to what Tableau does (HALF is because Tableau historically does not need to maintain the significant R&D office outside of USA)!

Something dramatic happened during October 2013 with Data Visualization (DV) Market and I feel it everywhere. Share Prices for QLIK went down 40% from $35 to $25, for DATA went down 20% from $72 to below $60, for MSTR went up 27% from $100 to $127 and for DWCH went up  25% from $27.7 to $34.5. This blog got 30% more visitors then usual and it reached 26000 visitors per month of October 2013!

dwchPlus3DVPricesOctober2013So in this blog post I revisited who are actually the DV leaders and active players in Data Visualization field, what events and factors important here and I also will form the DVIndex containing 4-6 DV Leaders and will use it for future estimate of Marketshare and Mindshare in DV market.

In terms of candidates for DV Index I need measurable players, so I will prefer public companies, but will mention private corporations if they are relevant. I did some modeling and it turned out that the best indicator for DV Leader if its YoY (Year-over-Year Revenue growth) is larger than 10% – it will separate obsolete and traditional BI vendors and me-too attempts from real DV Leaders.

Let’s start with traditional BI behemoths: SAP, IBM, Oracle and SAS: according to IDC, their BI revenue total $5810M, but none of those vendors had YoY (2012-over-2011) more then 6.7% ! These 4 BI Vendors literally desperate to get in to Data Visualization market (for example SAP Lumira, IBM is getting desperate too with Project Neo (will be in beta in early 2014), Rapidly Adaptive Visualization Engine (RAVE), SmartCloud Analytics-Predictive Insights, BLU Acceleration, InfoSphere Data Explorer or SAS Visual Analytics) but so far they were not competitive with 3 known DV Leaders (those 3 are part of DVIndex for sure) Qlikview, Tableau and Spotfire

5th traditional BI Vendor – Microsoft had BI revenue in 2012 as $1044M, YoY 16% and added lately a lot of relevant features to its Data Visualization toolbox: Power Pivot 2013, Power View, Power Query, Power Map, SSAS 2012 (and soon SQL Server 2014) etc. Unfortunately Microsoft does not have Data Visualization Product but pushing everything toward Office 365, SharePoint and Excel 2013, which cannot compete in DV market…

6th Traditional BI vendor – Microstrategy made during October 2013 a desperate attempt to get into DV market by releasing 2 free Data Visualization products: Microstrategy Desktop and Microstrategy Express, which are forcing me to qualify Microstrategy for a status of DV Candidate, which I will include (at least temporary) into DVIndex.  Microstrategy BI revenue for TTM (Trailing 12 months) was $574, YoY is below 5% so while I can include it into DVIndex, I cannot say (yet?) that Microstrategy is DV Leader.

Datawatch Corporation is public (DWCH), recently bought advanced Data Visualization vendor – Panopticon for $31M. Panopticon TTM Revenue approximately $7M and YoY was phenomenal 112%  in 2012! Combining it with $27.5M TTM Revenue of Datawatch (45% YoY!) giving us approximately 55% YoY for combined company and qualifying DWCH as a new member of DVIndex!

Other potential candidates for DVIndex can be Panorama (and their Necto 3.0 Product), Visokio (they have very competitive DV Product, called Omniscope 2.8), Advizor Solution with their mature Advizor Visual Discovery 6.0 Platform), but unfortunately all 3 companies choose to be private and I have now way to measure their performance and so they will stay as DV Candidates only.

In order to monitor the progress of open source BI vendors toward DV Market, I also decided to include into DVIndex one potential DV Candidate (not a leader for sure) – Actuate with their BIRT product. Actuate TTM revenue about $138M and YoY about 3%. Here is the tabular MarketShare result with 6 members of DVIndex:

MarketShareIndex

Please keep in mind that I have no way to get exact numbers for Spotfire, but I feel comfortable to estimate Spotfire approximately as 20% of TIBCO numbers. Indirect confirmation of my estimate came from … TIBCO’s CEO and I quote: “In fact, Tibco’s Spotfire visualization product alone boasts higher sales than all of Tableau.” As a result I estimate Spotfire’s YoY is 16% which is higher then 11% TIBCO has. Numbers in table above are fluid and reflect the market situation by the end of October 2013. Also see my attempt to visualize the Market Share of 6 companies above in simple Bubble Chart (click on it to Enlarge; where * X-axis: Vendor’s Revenue for last TTM: 12 trailing Months, * Y-axis: Number of Full-Time Employees, working for given Vendor, * Sized by Market Capitalization, in $B (Billions of Dollars), and * Colored by Year-Over-Year revenue Growth):

MarketShare

For that date I also have an estimate of Mindshare of all 6 members of DVIndex by using the mentioning of those 6 companies by LinkedIn members, LinkedIn groups, posted on LinkedIn job openings and companies with Linkedin profile:

MindShareIndex

Again, please see below my attempt to represent Mindshare of those 6 companies above with simple Bubble Chart ((click on it to Enlarge; here 6 DV vendors, positioned relatively to their MINDSHARE on LinkedIn and where * X-axis: Number of LinkedIn members, mentioned Vendor in LinkedIn profile, * Y-axis: Number of LinkedIn Job Postings, with request of Vendor-related skills, * Sized by number of companies mentioned them on LinkedIn and * Colored by Year-Over-Year revenue Growth):

MindShare

Among other potential DV candidates I can mention some recent me-too attempts like Yellowfin, NeitrinoBI, Domo, BIME, RoamBI, Zoomdata and multiple similar companies (mostly private startups) and hardly commercial but very interesting toolkits like D3. None of them have impact on DV Market yet.

Now, let’s review some of October events (may add more October events later):

1. For the fourth quarter, Qliktech predicts earnings of 28 cents to 31 cents a share on revenue between $156 million and $161 million. The forecast came in significantly lower than analysts’ expectations of 45 cents a share on $165.78 million in revenue. For the full year, the company projects revenue between $465 million and $470 million, and earnings between 23 and 26 cents a share. Analysts had expectations of 38 cents a share on $478.45 million. As far as I concern it is not a big deal, but traders/speculants on Wall Street drove QLIK prices down almost 40%

2. Tableau Software Files Registration Statement for Proposed Secondary Offering. Also Tableau’s Revenue in the three months ended in September rose to $61 million, 10 millions more then expected – Revenue jumped 90%! Tableau CEO Christian Chabot said the results were boosted by one customer that increased its contract with the company. “Our third quarter results were bolstered by a large multimillion-dollar deal with a leading technology company,” he said. “Use of our products in this account started within one business unit and over the last two years have expanded to over 15 groups across the company. “Recently, this customer set our to establish an enterprise standard for self-service business intelligence, which led to the multimillion-dollar transaction. This deal demonstrates the power and value of Tableau to the enterprise.” However DATA prices went down anyway in anticipation of a significant portion of these Shares Premium prices should quickly evaporate as the STOCK Options lock-up will expire in November 2013.

3. TIBCO TUCON 2013 conference somehow did not help TIBCO stock but in my mind brought attention to Datawatch and to the meteoric rise of DWCH stock (on Chart below compare it with QLIK and TIBX prices, which basically did not change during period of March-October of 2013) which is more then tripled in a matter of just 8 months (Datawatch bought and integrated Panopticon during exactly that period):

DWCHvsQLIKvsTIBXMar_Oct20134. Datawatch now has potentially better software stack then 3 DV Leaders, because of Datawatch Desktop is integrated with Panopticon Desktop Designer and Datawatch Server is integrated with Panopticon Data Visualization Server; it means that in addition to “traditional” BI + ETL + Big Data 3V features (Volume, Velocity, Variety) Datawatch has 4th V feature, which is relevant to DV Market: the advanced Data Visualization. Most visualization tools are unable to cope with the “Three V’s of Big Data” – volume, velocity and variety. However, Datawatch’s technology handles:

  • Data sources of any size (it has to be tested and compared with Qlikview, Spotfire and Tableau)

  • Data that is changing in real time (Spotfire has similar, but Qlikview and Tableau do not have it yet)

  • Data stored in multiple types of systems and formats

We have to wait and see how it will play out but competition from Datawatch will make Data Visualization market more interesting in 2014… I feel now I need to review Datawatch products in my next blog post…

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