DataRPM, a pioneer in cognitive business intelligence, recently announced that it has closed a $5.1 million Series A funding round. Led by InterWest Partners and joined by CIT GAP Funds, the round will be used to accelerate DataRPM’s global go-to-market strategy. DataRPM changes the way individuals work with data, making analytics more accessible and easier to use by solving the two main barriers to the adoption of data analysis – time consuming data modeling and usability. The DataRPM business intelligence (BI) platform removes those barriers, automating the data modeling process and employing a natural language question-and-answer interface to simplify data analysis and visualization.
By lowering the cost of ownership and emphasizing usability, DataRPM is making business intelligence a no-brainer,” said Khaled Nasr, partner at InterWest. “Until now, BI solutions and Big Data have largely ignored the data modeling process. DataRPM uses sophisticated algorithms to automate what is otherwise a heavy manual lift. Their combination of affordability and ease-of-use creates the opportunity for companies of all sizes to get meaningful insights from their data.”
Available both on-premise and in the cloud, DataRPM’s business intelligence platform pulls data from disparate sources and stores it in a computational search index, rather than a traditional data warehouse. As a result, users can easily analyze and visualize their data in near real-time with no limit to the size of data.
The time-consuming and costly process of data modeling represents a huge deterrent for many companies. Data modeling can take as much as 80 percent of the time needed for data analytics and represents a significant cost. Manual data modeling fails to keep up with the rapidly changing business environment, a problem made more severe with the volume, variety and velocity of Big Data.
Usability has also plagued the business intelligence space. Tools come with a steep learning curves and over-technical interfaces that often keep users with the most domain expertise from getting the insights they need.
DataRPM uses Cognitive BI to automate manual efforts of the data analytics process from the data modeling to the creation of reports and visualization for analysis. Cognitive BI is a combination of statistical, machine learning and artificial intelligence algorithms. The natural language processor understands the questions and translates them to appropriate BI query and displays the results with relevant visualizations and suggestions. Cognitive BI uses the machine for the heavy lift, allowing the users to spend more time interpreting, understanding and finding insights within their data.
Our mission is to simplify business intelligence. We provide insights, actions, and results from of the massive amount of data with a machine first, removing the cumbersome manual lift. Pairing our computational search platform with machine learning and natural language interface, greatly simplifies the process of gaining insights from data,” said Sundeep Sanghavi, co-founder and CEO of DataRPM.
DataRPM is founded by serial entrepreneurs and technologists, Shyamantak Gautam, Ruban Phukan and Sundeep Sanghavi, with backgrounds in BI, Big Data and Search from companies that include IBM, Yahoo, and Arthur Andersen.
The video below provides a short introduction to DataRPM technology:
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