TIBCO Software Inc. (NASDAQ: TIBX) today launched TIBCO SpotfireÂ® 3.1, the latest version of its in-memory analytics platform making predictive analytics accessible within Spotfireâs visual user experience. SpotfireÂ® 3.1 responds faster than BI and more flexibly than spreadsheets, equipping everyone in the enterprise â whether in business, technical, or scientific roles â to easily analyze complex data, customize their discovery experience, and share their story through mashups, portals, or interactive dashboards. With this release, TIBCO makes predictive analytics a mainstream feature of any business application, allowing any enterprise decision-maker to perform âwhat-ifâ scenarios on demand and find new insights in complex data instantly.
âThe TIBCO Spotfire Analytics Platform continues to evolve, putting more power into the hands of our analytics team and allowing us to cut time to decision, while guiding our users to more strategic insights,â said Ramona Hovey, senior vice president, Products and Services for DrillingInfo Inc., an information and data analysis service for the oil and gas industry whose clients include major oil companies and large and small independents that produce over 90% of all U.S. oil and gas. âBy exploiting innovative Spotfire technologies, such as Web-based business analytics, we are looking to build highly responsive, real-time business models to provide our internal and external clients with accelerated business innovation, growth, and collaboration.â
âIf empowering business users to make better decisions is the end game of BI and analytics technology, then organizations â and vendors â must provide functionality that goes beyond basic information access,â said Dan Vesset, vice president of business analytics at IDC. âSupport for scenario evaluation, predictive analytics, collaboration, and guided analytics of tools such as TIBCO Spotfire enables business decision makers at any level to discover new and actionable insights while proactively detecting and responding to events. This ability not only improves productivity, but also minimizes IT investment.â
Superior Data Exploration & Analysis
With an extensive track record of providing users with innovative visualization capabilities that speed decision-making, Spotfire 3.1 extends Spotfireâs dominant position as the industryâs leading visual data exploration and analysis solution. Users now have more tools to explore, interact with, and present their data, while giving them more flexibility and speed to analyze their data.
Unlike traditional BI or static spreadsheets, Spotfire 3.1 also includes conditional coloring and lasso and axis marking that allow for better data analysis of patterns, clusters and correlations among sets of variables. Its multiple scale bar charts and combination bar and line plots also allow for enhanced analysis of unstructured, âfree-dimensionalâ data to identify key outliers and trends amongst the data.
Fully Integrated Advanced Analytics Supporting S+ & R
With Spotfire 3.1, TIBCO continues to advance the industryâs most flexible platform for deploying statistically-rigorous, predictive analytic applications to a wide range of professionals across the enterprise. Spotfire 3.1 enables organizations to easily integrate S+Â® or R statistical scripts and models into a remarkably intuitive and fully interactive interface. This is accomplished through the new TIBCO Spotfire Statistics Services layer, which allows for the central deployment and execution of both S+ and R-based models which can then be accessed and run from a Spotfire client. End users without statistical expertise can now leverage the power of predictive models to add confidence to their decisions. By fully integrating predictive analytics to the TIBCO Spotfire Analytics Platform, Spotfire 3.1 transforms the way business and technical professionals interact with data â whether data at rest or data in motion â to make decisions that impact operations on a moment-to-moment basis.
Spotfire 3.1 also allows the user to bring the power of the widely-adopted R language to the Spotfire platform to perform advanced what-if analysis and sophisticated analytics. This opens up access to a huge array of freely-available statistical methods, and makes them accessible and relevant for business professionals. By linking R analytics into the TIBCO Spotfire Analytics Platform, customers can take advantage of investments theyâve already made with R and make them available to the rest of the organization.
âThe rapid adoption of R demonstrates the high demand for statistically supported decision-making, but its usage has been limited to expert usersâ said Bill Ladd, Chief Analytic Officer of RecordedFuture and long-time R user. âThis Spotfire Analytics release will make it easy for organizations to put the power of R and S+ into the hands of many more users. Not only will that leverage the investments organizations have made in developing algorithms and models, but it will help end users without statistical expertise make more analytically-powered decisions.â
Comprehensive Platform for Building Analytic Applications
Spotfire 3.1 empowers non-IT, non-programmers to easily build powerful visual, interactive, event- and statistically-driven SpotfireÂ® Analytic Applications, enabling more pervasive and flexible use of sophisticated analysis for decision-making by everyday business users. New parameter-driven applications â offered through new user interface controls â put the power of creating sophisticated applications right in the hands of a Spotfire user.
Working in tandem with TIBCO SpotfireÂ® Application Data Services, Spotfire 3.1 also makes it possible to analyze data from various enterprise data sources, including SAP NetWeaver BI, SAP ERP, Salesforce.com, Siebel eBusiness Applications, and the Oracle E-Business Suite. This simplified integration â coupled with new Web mashup application programming interfaces (APIs) â enables richer and pervasive analytic application development. By bringing the power of analytics to mission-critical functions such as Sales and Marketing, Finance, Research & Development, and Supply Chain, Spotfire 3.1 allows IT to continually respond more quickly to growing business needs. With Spotfire, the limitations that had often led IT to adopt multiple applications in order to satisfy the information needs of different user groups no longer apply.
âSpotfire 3.1 brings easy-to-create â yet exceptionally powerful analytic applications to the enterprise â uniquely filling the âanalysis gapâ that has forced business and technical professionals to resort to spreadsheets for their analytic needs. It sets a new standard for what a software product needs to provide in order to be truly considered âanalyticsâ,â said Lars Bauerle, vice president product strategy for Spotfire, TIBCO Software Inc. âNo other vendor combines five key elements â clarity of visualization, freedom of spreadsheets, relevance of applications, confidence of statistics, and reach of reports â in a single user experience. We challenge any other vendor boasting âanalyticsâ to prove they meet this full set of requirements for analytics.â