ClearStory Data Gets $9M for Big Data Analytics
Investment matches the surge in the predictive solutions market.
Posted Dec 6, 2012
Page 1

With the ever-growing need to analyze and act on high-volume data sets, more vendors playing in the big data analytics space are raising the cash to make that a reality for enterprises. 

ClearStory Data has announced it has raised $9 million through a first line of funding from Kleiner Perkins Caufield & Byers along with additional seed investment by initial investors Andreessen Horowitz and Google Ventures, to enable businesses to leverage data from corporate or third-party data sources.

Likewise, just days ago, software company Lattice Engines banked $20 million in funding from New Enterprise Associates and Sequoia Capital to pad out big data applications and predictive analytics for sales and marketing processes.

According to technology research firm IDC predictions, big data spending in the Asia-Pacific region alone, with the exception of Japan, could reach $603 million in 2013, a 42.6 percent increase from 2012. Two of the hottest growth areas when applying big data to business processes will come from financial crimes and prevention of network intrusion.

Another 2013 prediction from IDC is the rise of Big Data-as-a-Service (BDaaS) that would draw on platform, networking, storage, and compute services to answer the question of how customers can better onboard their data for analysis. IBM, for instance, just launched subscription-based Analytic Answers, an analytics-as-a-service solution for SMBs designed to run on IBM's SmartCloud.

In a survey of more than 800 SMBs, global market research organization Techaisle found that 40 percent of midmarket businesses are interested in predictive analytics and that 34 percent of small-to-midsize companies in the U.S. currently running business intelligence solutions have also expressed interest in big data analytics.

There has been a continuing push to bring large-scale data analysis down to department-level roles like marketing directors or even sales ops managers. According to Mike Abbott, a managing partner for Kleiner Perkins, what fueled the firm's decision to invest in ClearStory was "an opportunity that promises to disrupt, bringing big data into the hands of the true business user beyond the specialized domain of data scientists and quants," he said, in a statement.

Page 1
To contact the editors, please email editor@destinationCRM.com
Every month, CRM magazine covers the customer relationship management industry and beyond. To subscribe, please visit http://www.destinationCRM.com/subscribe/.
Related Articles
SAS Premier Business Leadership Series emphasizes real-time data processing.
A Forrester report highlights big data challenges companies face.
But using such insights for fraud prevention has room for growth.
More organizations are leveraging psychographic data to forecast positive—and negative—results.
The infusion of cash will help the big data applications provider accelerate growth and expand its product portfolio.
Predictive analysis of transactional data improves sales performance.
New feature makes multichannel data analysis and reporting easier for marketers.
Companies want to measure "ideal" customer profiles and lead behavior.
Popular Articles

Home | Get CRM Magazine | CRM eWeekly | CRM Topic Centers | CRM Industry Solutions | CRM News | Viewpoints | Web Events | Events Calendar
DestinationCRM.com RSS Feeds RSS Feeds | About destinationCRM | Advertise | Getting Covered | Report Problems | Contact Us