ThoughtSpot aims to shake up modern data stack

Enterprise ERP systems run on data, it’s a simple fact of digital life. But although all deployments are different, across the transept of any organization’s IT stack we have always usually found a comparatively standard model forming the data stack itself.

Traditionally, an ERP system relies upon a core database function at its heart (often supplied by a dedicated ERP vendor itself) and then an analytics layer, which may again be part of an ERP suite or an external specialist add-on. Additionally, we then find integration layers before we finally get to the upper tier visualization layer, which presents information to users in the form of dashboards and so on. Although not quite cast in stone, this standard-shaped data stack has characterized many real world use cases for some decades.

Aiming to provide a single and more unified approach to what it calls a ‘modern data stack’ approach is data analytics cloud company ThoughtSpot. The organization used its annual user convention this month to announce the launch of three new editions that it hopes will enjoy implementation in ERP environments and further afield. The new market offerings include a Team Edition, Pro Edition, plus a special bundle for startups, nonprofits and education institutions. These are the first offerings from the company specifically for small teams and individuals.

Consumption-based pricing

As part of these editions, ThoughtSpot also announced a consumption-based pricing model, where customers pay only for what they use instead of wasting resources on shelfware licenses sold by traditional analytics providers. With ERP vendors such as SAP only offering this model in the most extremely defined and predictable workload use cases, this could perhaps be further signs of a market shake up in the data business.

Customers can get started with Team Edition for a flat fee per month for a single user-group with unlimited users. Pro Edition is charged per month for up to 5 user-groups with unlimited users. 

Pro Edition customers will only pay for what they consume, based on actual queries. Startups, nonprofits and education institutions with less than 100 people and less than $8 or $10m in annual revenue can take advantage of a special flat fee offer for Pro Edition, with per query charges waived. 

For most enterprise deployments, ThoughtSpot Enterprise Edition provides maximum scale with unlimited users, unlimited data, unlimited user groups and enterprise-grade support SLAs. 

The new editions were unveiled alongside a major expansion to the company’s platform capabilities at Beyond, ThoughtSpot’s annual customer conference. Combined with these new editions, the announcements significantly advance the company’s product-led growth strategy.

A new vector for growth

Companies have long recognized the value of their data to improve their business on multiple fronts, as research from Harvard Business Review demonstrates, but the lack of true self service analytics kept most organizations from realizing these benefits. 

The Modern Analytics Cloud from ThoughtSpot is the first analytics platform specifically built to deliver this self-service experience with Live Analytics. With ThoughtSpot, data is truly democratized claims the firm. 

Historically, ThoughtSpot was packaged to enable large deployments across organizations. With the launch of these new editions, companies can move beyond dead dashboards and put the power of Live Analytics in the hands of any size team, including individuals. With an affordable pricing model, the new editions are said meet the budgetary realities of any business. 

“The kinds of transformational value our customers have been able to achieve with ThoughtSpot is simply astounding. Seeing truly is believing when it comes to the Modern Analytics Cloud. The way our business model was built, however, meant that many smaller organizations and teams couldn’t experience these same results firsthand,” said Sudheesh Nair, CEO, ThoughtSpot. 

Nair says that he wants customers to only pay for the value they create with ThoughtSpot. 

“[Data analytics] dashboards are dead… and the act of wasting money on user licenses that sit as shelfware instead of what customers actually consume should be, too,” he added.

Leveraging the company’s SaaS platform, the new editions can be used immediately and can instantly connect to customers’ cloud data platforms like Snowflake, Databricks, Google BigQuery, AWS, Azure etc.