IDC’s Senior Research Analyst, Raymond Huo has included Promethium in IDC Innovators: Business Intelligence and Decision Software Solutions, 2021. The study profiles five emerging vendors in the business intelligence and decisioning software industry
"Over the decades, the business intelligence software market has gone through several cycles of innovation with the latest one focused on infusion of AI and ML algorithms to automate the analytics workflow in support of decision making." — Raymond Huo, senior research analyst, Business Analytics and Decisioning Solutions, IDC
What does IDC consider an IDC Innovator?
IDC defines IDC Innovators as, "emerging vendors with revenue <$100 million that have demonstrated either a groundbreaking business model or an innovative new technology — or both."
For the vendors included in the report, including Promethium, IDC noted that they believe each could be a candidate for M&A or IPO.
Why Promethium was chosen as an IDC Innovator
According to IDC, Promethium’s software accelerates the time it takes to gain insights by automating the process of data exploration, preparation and analysis. The report called out Promethium’s natural language processing interface, applying machine learning to metadata management and using data virtualization and natural language generation.
IDC Innovator Assessment
The study highlighted that Promethium supports five core capabilities:
Automated Data Exploration
Data Preparation Recommendations
Auto Generation of Insights
Results Interpretation and Narration
IDC noted that Promethium’s users are mostly data engineers and data analysts that have to solve challenging data preparation projects from internal and external sources. The study found value in the consolidation of multiple capabilities into one software service that could “replace up to five discrete software products for each of the steps in the analytics workflow.”
Unlike other solutions Promethium makes it possible to perform cross-source business intelligence and decisioning without complex ETL or slow data consolidation. Promethium is a no code solution that combines a data catalog with data preparation, data virtualization and data visualization in one solution for faster answers from data.
The big collision is coming: data management -> analytics -> BI -> ML. Driven by demand for data democratization and accelerated by the rise of augmented solutions (ML and AI enabled solutions that lower the skills needed and boost productivity) now is exactly the right time for a solution like Promethium.
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