Halloween may be an already-faded memory, but it was also when a data analytics company called Yellowfin BI introduced new tricks and treats for businesses that use data to drive decisions.
Recently, Yellowfin announced immediate availability of two new solutions, Yellowfin Signals and Yellowfin Stories. Each is designed to enable better business decisions by providing innovative views of the data that drives those decisions.
Yellowfin Signals: Beyond the Dashboard
Business dashboards are very popular, because they consolidate and present diverse data in forms that promise easier understanding and faster time to action. Many, however, are much better at enabling creation of fanciful interfaces than they are at revealing the underlying data. Almost every business dashboard presents data analytics based on recent or historical data, not what’s happening now.
Yellowfin Signals runs continuously in the background. It uses artificial intelligence (AI) to scan data sources for patterns, trends and unusual events. When it detects anything noteworthy, it automatically scans and correlates relevant data from other sources. It then delivers an alert to designated recipients, equipping them with sufficient data analytics to choose and agree upon a course of action quickly.
In a sense, Yellowfin Signals turns “cat eyes” on your business data. Cats can’t see detail at a distance or color as well as we can. Their eyes, however, are much better than ours at detecting nearby motion, which could be dinner or a predator. Yellowfin Signals helps decision makers focus on events and relationships within their business data that deserve further attention – the signals, not the noise.
Yellowfin Stories: Better Stories Mean Better Decisions
The company positions Yellowfin Stories as “the first-ever data-storytelling product.” It lets users collect data from multiple online sources, including dashboard tools from other vendors. Yellowfin Stories then provides the tools to curate multiple data streams into a single story, complete with supporting data.
As businesses evolve into agile, project-based teams and pursue digital transformation, significant changes in infrastructure, operations and culture are often needed. To make these changes, those leading each pursuit must be able to convince stakeholders, including executives and colleagues, to support their efforts. The ability to tell more credible, compelling stories can be a great aid to these and other initiatives at almost any business.
Yellowfin: The Rest of The Story
Yellowfin was founded during 2003, and the company has had a singular focus throughout its existence: revealing the “why” behind every business decision faster. Yellowfin Signals and Yellowfin Stories combine innovative technologies with flexibility and ease of use. They can help decision makers discover challenges and opportunities, plan actions in response and gain support for those actions with credible, actionable data analysis.
In its announcement of the two new offerings, the company quoted John Santaferraro, Research Director at Enterprise Management Associates (EMA). “EMA considers Yellowfin to be a leader in the use of AI, machine learning, contextual storytelling, and social communication for business intelligence.” After seeing the new offerings and talking with the CEO and the lead developer, I’d have to agree, and so does Gartner. It ranked Yellowfin among the top five vendors across all 15 Gartner Critical Capabilities for Analytics and Business Intelligence Platforms. Yellowfin also has approximately 27,000 organizations as clients, so there’s a track record behind the promise of the new offerings.
Here is what other major analyst firms have to say about Yellowfin.
Yellowfin Signals and Yellowfin Stories are each available as standalone solutions. They can also be implemented as elements of the Yellowfin Suite, which also includes tools for data discovery and preparation, and for creating dashboards. If data drives decisions at your business – and it should – you ought to check what Yellowfin has to offer. I think their latest offerings signal the appearance of some pretty compelling stories during the near future – and probably even before next Halloween.