SiSense is not only disrupting Big Data: they’re making analytics dead-easy and challenging even the biggest players in the field. The saying may go, do you want it fast, cheap or good: pick two. SiSense is fast, affordable – and awesome. CEO Amit Bendov is here to tell us about their Big Data solution for businesses large and small, their rapidly-growing client base – and the awards. Today, SiSense announces the opening of their New York office.
Tell us about the product.
SiSense pioneered a new approach to Big Data Analytics that enables organizations of all sizes to make sense of their data and put it to work. Hundreds of companies, from startups to large enterprises, are choosing SiSense’s In-Chip technology — which allows non-technical users to analyze 100X more data at 10X the speed of traditional in-memory solutions. With customers in 49 countries, including global brands like Target and Merck, SiSense won the Audience Choice award at the O’Reilly Strata conference and was designated one of the “10 Most Innovative New IT Ventures” at the Under the Radar conference. SiSense is also a finalist in NYC’s Take the H.E.L.M. competition (winners will be announced in November).
SiSense is challenging the Big Data Analytics market with a technology that is easier to use and much more affordable than legacy solutions, and it does not require data warehousing. Its unique “In-Chip” technology breaks capacity barriers faced by traditional in-memory solutions.
The vast majority of businesses have between 1/2 to 100 terabytes of data. Deploying complex Hadoop clusters or data warehouse appliances designed to handle petabytes is simply overkill for them…needlessly complicated and prohibitively expensive. SiSense Prism can analyze on one node what normally requires 20 nodes. On the flip side, traditional in-memory solutions are limited by the computer’s RAM and are difficult to scale beyond 1/2 Terabyte. SiSense’s In-Chip technology allows it to analyze 100x more data than traditional in-memory solutions at a fraction of the cost.
What market are you attacking and how big is it?
The Big Data Market is estimated to top the $50 billion mark worldwide within the next few years. As of early 2012, it stood at just over $5 billion, according to Wikibon, which predicts a “super-charged CAGR of 58% between now and 2016”
What is the business model?
Friendly Business Model. Unlike legacy business intelligence vendors, SiSense Prism is purchased on a subscription basis and can be deployed on premises and/or in the Cloud.
What are the milestones that you plan to achieve within 6 months?
We are growing rapidly and demand for our solution is high. In 2012 alone, subscription revenues grew 520% and we have customers in 49 countries. We plan on using our new New York City offices on Wall Street to continue our rapid expansion. We’re hiring!
Why are you launching in New York?
New York City is home to major financial and media institutions, so it makes sense for us to be on Wall Street, surrounded by data-driven companies. New York also has a nascent Big Data community, which we are a part of and will help grow. The week of October 28 has been officially called Data Week and we’re participating in a variety of related events and showcasing our technology at the Strata Conference in Midtown. At the last Strata Conference, SiSense won the Audience Choice Award and we’re excited to share some new technological breakthroughs at this event.