BI and Analytics Sector Overview :
BI is one of the hot sector and worldwide is currently pegged at $16.5 Billion market and India’s market is $160 million. We currently have 3 leading open source BI tools in the market i.e. Jaspersoft, Pentaho and BIRT. Jaspersoft got acquired by TIBCO, Penthao by Hitachi and BIRT by Opentext within last 1-2 years.
Reason to develop a new tool
Helical Insight is an Open source BI tool. The tool has many unique features which no other tool is currently providing.
If we look at the BI evolution, earlier we had canned reports, late on reports with input parameters, then dashboards and then in-memory BI tools. Next phase of BI will be integration of machine learning and
Artificial Intelligence which will empower end users to type in their question and get instant business answers. Our tool is able to provide the best of both world i.e. robustness of old BI tools with self service and backend driven reporting + machine learning module allowing business users to ask questions and get instantaneous business answers.
Apart from that, if you look at BI evolution not even a single BI tool survived the entire BI evolution because they were not developer friendly and were not able adapt to new technologies. Whereas Helical Insight comes with SOA architecture and is completely API driven. This allows clients to add features and capabilities as and when they want with their own developers. Thus not only business users requirement are fulfilled but also entire solution stack can be upgraded as new technologies come into market without changing the entire stack.
Progress till now
The app is getting some really good feedback and business users are really excited about Instant BI. With it business users can just type in and get instantaneous data analysis. The company is already having 6 paying customers for their platform and are shortlisted for showcasing our product in TechInAsia conference Singapore and Startup Grind.
Do check more on their website at www.helicalinsight.com