Until early 21st century the databases used to produce
numbers and data. It was the job of IT professionals to analyze the data and
create reports. However a small software company founded by three youngsters
Christian, Pat and Chris from Stanford University in the year 2003, named as
Tableau, revolutionized the industry with the idea of incorporating data
visualization features into the databases making it interactive and
comprehensible like never before.
Tableau emerged in the era when there were already
established companies like Cognos, Business Objects, Microsoft Excel, etc.,
which were enjoying the success, but starting from a small office in Seattle it
managed to climb the success chart with $3.8 billion of current market cap.
Read below to find out how Tableau made it possible?
From the IPO launch
Since the time it was launched it was not accepted by the IT
professionals as they did not find it worthwhile. But soon it picked up the
pace when business analysts and marketers found its features useful for the
business intelligence domain. The company launched its first IPO in 2013 and
raised $250 million and never looked back.
Now since past four years Tableau software has been placed
as the leader in the Gartner’s magic quadrant for business intelligence and
analytics dealing in about 150 countries raising 25% of total revenue. Last
year it released the report of its performance growth over the years since the
launch of its IPO which reflected that its market value reached more than $8000
million in the year 2015. tableau-software-graph More and more companies
dealing in business intelligence are now using Tableau Software for report
preparations with strong BI visualization support. Hence the company which was
once considered to be sold in 2010 grew like anything gaining the customer base
of more than 60,000 which will be growing in the future.
What made Tableau popular?
In a competition with the business intelligence giants like
IBM, SAP, Oracle and Microsoft how did a small start-up like Tableau make its
market?
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The prime logic behind creating this tool was developing a
simple and user-friendly tool that cannot only help you create graphs, charts,
maps, reports but assist you in the next-gen concepts like predictive and prescriptive
analysis. Trying to get a BI job? Crack the interview in one shot with these
top Tableau interview questions! The worldwide business analytics market will
grow from $37.7 billion in 2013 to $59.2 billion in 2018, which translates to a
9.4% compounded annual growth rate for the forecast period. – IDC tableau-1 It
clearly indicates the prominence of BI tools in current market scenario. The
prime features that led Tableau Software to achieve success are-
Powered by VizQL language making it flexible to pull data
from any sourceFacilitates the user with ‘n’ number of visualization tools to
customize the Tableau reportsAll the complex graphs and maps can be prepared
with drags and drops, no coding neededTableau data visualizations can be
embedded with multiple platformsAble to analyze and display the data in
real-timeSome of the striking new features introduced in the latest versions
are- iTune/iCloud
Tableau has seen a tremendous growth of 82% in its annual
sales over the past seven years from $18 million in 2009 to $654 million in
2015 making it score high in the ranking chart. Started from a bedroom by three
masterminds this company now ranks under top ten BI tools giving tough
competition to some of the old tools like IBM, Oracle, Microsoft, Qlik, etc. A
report by Forbes in 2016 indicates that the total revenue of Tableau grew 32%
in the first quarter to $172 million, with international revenue up 52% and
3,500 new customer accounts. The company closed 268 transactions greater than
$100,000, up 8% year over year. If Tableau keeps on performing with the same
pace soon its net worth will be in the north of $3 billion counted as one of
the top three BI companies in the world.
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