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Salesforce's Benioff: The Wave analytics cloud's market potential is 'far beyond' $1B | VentureBeat

Salesforce's Benioff: The Wave analytics cloud's market potential is 'far beyond' $1B | VentureBeat | The MarTech Digest | Scoop.it

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It shouldn’t come as a surprise that Salesforce.com chief executive Marc Benioff is bullish about his company’s newest software, the Wave cloud service for visualizing data. But it’s good to keep in mind just how big of an opportunity lies ahead, at least from Benioff’s perspective.

 

Indeed, the company today told analysts that it was expecting $6.5 billion in revenue for its 2016 fiscal year. And considering that Benioff is, as he put it, “extremely optimistic” about Wave’s capabilities from a money-making perspective, it’s fair to believe that soon enough Wave will become a major contributor to the company’s top-line revenues, right up there with Salesforce’s popular sales cloud for tracking leads.

 

But while Wave is already available in app stores, providing “analytics for the rest of us,” Benioff said it’s not just an application. He sees it as a platform on top of which other applications can be built.

 

 

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CYDigital's insight:

The over/under when Wave will be spun-off as a separate company: 2019. I'm taking the under.

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4 ways Salesforce's wave missed the data analysis mark | memeburn

4 ways Salesforce's wave missed the data analysis mark  | memeburn | The MarTech Digest | Scoop.it

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Wave falls short in these areas:

 

1. High user involvement

While it provides a lightweight self-service BI solution, it requires users to proactively ask questions of the data and hunt for answers. Essentially, Wave provides the canvas and palette, but you’re ultimately responsible for the painting.

 

2. Actionable data

For big data to be, well, big data, it must give the user an actionable insight, and actionability isn’t a core component of Wave. Providing all data all the time — like Wave does — is not the answer.

 

3. The cost of doing business

Using Wave pushes users into the Salesforce analytics cloud. The cost of moving all your data to the cloud to create a consolidated cloud data warehouse could be prohibitive for many businesses. However, Wave is still labor and IT intensive. The fact that it’s partnering with Informatica and Dell Boomi suggests that there’s no silver bullet when it comes to data integration and management. There’s still a heavy ETL and modeling exercise required on a customer-by-customer basis to translate the data into a consumable format, which is timely and costly.

 

4. Everyone needs to be an analyst

Wave is great, but it’s not a solution in itself. It still requires everyone to be an analyst to comb through the data to ask questions and find answers. Think about it this way: You can have the coolest car in the world, but it’s useless without a driver. Data discovery and analysis is necessary to get any value out of Wave.

 

 

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CYDigital's insight:

Which begs the question: is Wave designed to bring BI to the masses? If so, then we just can't say at this point that it's a success, as it relies on partners to deliver greater functionality that simplifies the process. Show me.

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Digital Analytics Pros: Wait Before Diving Into The Salesforce Wave - Forrester

Digital Analytics Pros: Wait Before Diving Into The Salesforce Wave - Forrester | The MarTech Digest | Scoop.it

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Before placing SFDC on your digital analytics vendor shortlist you should consider that the capability:

 

1-Is targeted at SFDCs existing marketing cloud customers.  It is built more as "light weight" analytics capability providing BI pros the ability to natively ingest web and mobile data into their SFDC instances.

2-Will not replace existing enterprise systems. Salesforce claim it will “complement” existing enterprise digital analytics systems that do very much the same thing (i.e. collect, analyze and act on customer behavioral data) and more.

 

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CYDigital's insight:

And that's a hold...

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Yes, Salesforce Wave competes with its analytics partners. Here's why they aren't worried - VentureBeat

Yes, Salesforce Wave competes with its analytics partners. Here's why they aren't worried - VentureBeat | The MarTech Digest | Scoop.it
The CRM giant appears to be “doing what it can to avoid stepping on partners’ toes,” Pund-IT analyst Charles King told VentureBeat. Launching tomorrow, the newest cloud is “mainly aimed at delivering reports to mobile devices, to sales and marketing people in the field,” he said, and less oriented toward extensive queries.

He also noted Salesforce has said that advanced capabilities, notably including the predictive analytics that project which customers are most likely to close a deal, will still be led by Salesforce partners.

Additionally, specific partners — Dell Boomi, MuleSoft, and Informatica among them — will be involved in data integration.

Salesforce may be setting up Wave to become the leading edge in its effort to become more of a player in the enterprise, beyond its current CRM/Marketing/Sales focus. Once a company is accustomed to using Wave for some data analysis, it’s a short step to using it as a tool for other kinds of analysis — relating to, say, inventory, manufacturing, delivery logistics, whatever.

 

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CYDigital's insight:

This reiterates what we read yesterday: that Wave acts as a framework for partner participation. Unless, of course, the partner's territory is the same territory as Wave.

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Marketing Cloud data will appear in Wave, Salesforce exec promises (Q&A) - VentureBeat

Marketing Cloud data will appear in Wave, Salesforce exec promises (Q&A) - VentureBeat | The MarTech Digest | Scoop.it

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Scott McCorkle, the CEO of Salesforce’s ExactTarget Marketing Cloud: The analytics market is ripe for disruption … Marketers are more focused on data than ever before. The Marketing Cloud team is very excited about Wave, the Analytics Cloud. Data from the Marketing Cloud can be made available in Analytics Cloud at launch. We will continue to integrate into Analytics Cloud so this data movement can be automatic for customers. The new data visualizations in both Journey Builder and Analytics Cloud are the most innovative I have seen. But this goes beyond just visualization. This is about helping people create mobile analytics apps for any business need.

 

VentureBeat: How does the Salesforce’s Marketing Cloud visualization capabilities compare with its competitors?

McCorkle: I think across enterprise software generally there’s a trend of business software looking more like consumer software, and being easier to use, and having a nicer interface. What we’re doing goes a step further, and actually creates a level of visualization that I have not seen in any other software. We actually call these Journey Maps, because it’s how an organization wants to map the journey of their customer. It can look like a map, it can look like a flow, it can have any kind of graphical annotation, and show all the analytics overlayed on the map, in real-time. So I think what we’re building is very, very unique.

 

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CYDigital's insight:

An appetizer here, not the main course. We'll learn more over the next few days, and warrants continual research.

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Salesforce.com Enters The BI Market With Wave, The Salesforce Analytics Cloud - Forrester

Salesforce.com Enters The BI Market With Wave, The Salesforce Analytics Cloud - Forrester | The MarTech Digest | Scoop.it
These are the dynamics of the market that salesforce.com entered on October 13, 2014 with Wave, the Salesforce Analytics Cloud — a BI platform based on technology it acquired from EdgeSpring over a year ago. Out of the box, the newly announced Wave product boasts Agile Analytics directed at business users (with minimal support from technology pros), native, modern cloud architecture, clean intuiteve built for mobile user interface, seamless integration with salesforce.com CRM data, agile NoSQL DBMS, MPP architecture for big data scalability, and other 21st century features.

But while we feel that Wave is a cool product for specific use cases (mostly salesforce.com data source, no other BI vendor already doing the job, etc), there's lots of room for improvement before Wave can take its place among general purpose large enterprise BI platforms.

 

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CYDigital's insight:

Wave is a BI product, but I think it's fair to say that SFDC's intent was not to tackle the BI marketplace. Guessing here: work back into the market by driving Wave through sales and marketing, then into the larger corporate domain.

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Salesforce reveals Wave, its big, bad analytics cloud - VentureBeat

Salesforce reveals Wave, its big, bad analytics cloud - VentureBeat | The MarTech Digest | Scoop.it

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The new service from Salesforce, whose mobile app is already available for iOS, amounts to a major step forward for the enterprise software, not only because it expands the company’s reach beyond the sales, marketing, and service software categories, but also because the release changes the dynamics of Salesforce’s relationships with partners that have offered business-intelligence (BI) or data analytics capabilities in the past. Some are formally announcing partnerships; others aren’t. In any case, it’s a big day in data world.

 

Salesforce is announcing that it’s teaming up with several early-stage companies in the predictive-analytics market: 6SenseC9FliptopGainsightLattice EnginesPredixion, and Wise.io.

 

The choice of partnering rather than baking in predictive capability shows Salesforce doesn’t want to completely turn off its ecosystem of companies that offer to crunch data from Salesforce and assist sales people in figuring out which leads to focus on.

 

The standalone Wave service costs $250 per month for each person who imports data sets — “builders,” in Salesforce parlance — and $125 per month for each person working with available data, or “explorers.” The Wave mobile app comes free of charge.

 

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CYDigital's insight:

The simplicity is striking, and it looks as if the charge is not applicable to all users, only the importers of data. I'm looking at Wave as a framework where Predictive is integrated, e.g., Lattice.

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