{"id":4682,"date":"2019-06-19T09:13:18","date_gmt":"2019-06-19T13:13:18","guid":{"rendered":"https:\/\/solutionsreview.com\/business-intelligence\/?p=4682"},"modified":"2019-07-09T16:00:28","modified_gmt":"2019-07-09T20:00:28","slug":"why-you-should-care-how-your-bi-platform-is-funded","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/","title":{"rendered":"Why You Should Care How Your BI Platform Is Funded"},"content":{"rendered":"

\"Why<\/p>\n

There’s been a huge amount of investment in the BI space recently. A recent\u00a0article by Dave Kellogg<\/a>\u00a0talked about the hype in valuation and capital efficiency of many BI companies. It\u2019s an important topic that people purchasing analytics platforms should think about because it says a lot about what priorities a business has.<\/p>\n

Millions of dollars raised in funding, big profit?<\/strong><\/h4>\n

When you see venture capital funding in the hundreds of millions of dollars, you expect to see businesses that are doing phenomenally well. But generally, that’s not the case. Many BI organizations are good at raising capital, but not necessarily great at building businesses and products. Take Domo for example, it raised about $700 million<\/a> but only listed for $500 million. Birst raised $130 million but\u00a0sold for $100 million<\/a>.<\/p>\n

\t\t\t

\"Download<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div><\/p>\n

What is your BI vendor building?<\/strong><\/h4>\n

If I were a customer thinking about buying BI<\/a> software, the first thing I would look at is how the business was built. This tells you a lot about the management team and what they want from that business. Do they have the capability to truly create value? Do they care about their product? Are they building a long-term business or trying to offload it as quickly as possible before the money runs out? If it\u2019s the latter, that’s a real concern because how long can the business sustain itself if it doesn’t have the revenue to support it?<\/p>\n

What is your BI vendor spending on?<\/strong><\/h4>\n

As a customer, you also have to ask what these companies are spending money on. A lot of companies spend money on huge event-driven marketing campaigns and hire an incredible amount of people. This means the organization becomes flabby very quickly. This isn\u2019t necessarily the way to build a long-term, viable and sustainable business. I think a business is better off building a great product that people want to buy and then building the operational efficiency that’s required to scale and grow.<\/p>\n

There’s nothing magic about building a sustainable business. It’s simply good management practice. You need to understand the revenue you’re generating and the billings that are coming in. You need to leverage the risk that you\u2019re willing to take and choose to spend capital effectively to get a bigger bang for your buck.<\/p>\n

It’s your call<\/strong><\/h4>\n

So if you\u2019re a buyer of software products, you should be very cognizant of how a BI business has been built. If their management is more focused on raising money than on building a great product, then you need to decide if you\u2019re prepared to take the risk of buying software from them because that company may not be around for the long term.<\/p>\n

<\/div><\/p>\n

By Glen Rabie<\/em><\/strong><\/p>\n

\"GlenPrior to co-founding Yellowfin<\/a>, Glen worked for National Australia Bank in multiple roles, including Senior Business Consultant and Global Manager. It was here that he learned the value of enterprise data and developed his passion for data analysis. Glen enjoys the challenge of bringing new products to market and competing with the world\u2019s best. Most of all, he is proud of the team he\u2019s built – their passion and seeing the difference that the Yellowfin team has made to the analytics industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

There’s been a huge amount of investment in the BI space recently. A recent\u00a0article by Dave Kellogg\u00a0talked about the hype in valuation and capital efficiency of many BI companies. It\u2019s an important topic that people purchasing analytics platforms should think about because it says a lot about what priorities a business has. Millions of dollars […]<\/p>\n","protected":false},"author":23,"featured_media":4683,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[941,283],"acf":[],"yoast_head":"\nWhy You Should Care How Your BI Platform Is Funded<\/title>\n<meta name=\"description\" content=\"In this guest guest expert post, Yellowfin co-founder and CEO Glen Rabie walks us through why you should care how your BI platform is funded.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim King\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/\",\"name\":\"Why You Should Care How Your BI Platform Is Funded\",\"isPartOf\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/06\/oie_YlWhzTEkin0l.jpg\",\"datePublished\":\"2019-06-19T13:13:18+00:00\",\"dateModified\":\"2019-07-09T20:00:28+00:00\",\"author\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c\"},\"description\":\"In this guest guest expert post, Yellowfin co-founder and CEO Glen Rabie walks us through why you should care how your BI platform is funded.\",\"breadcrumb\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/#primaryimage\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/06\/oie_YlWhzTEkin0l.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/06\/oie_YlWhzTEkin0l.jpg\",\"width\":800,\"height\":400,\"caption\":\"Why You Should Care How Your BI Platform Is Funded\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/why-you-should-care-how-your-bi-platform-is-funded\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/solutionsreview.com\/business-intelligence\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why You Should Care How Your BI Platform Is Funded\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/\",\"name\":\"Best Business Intelligence and Data Analytics Tools, Software, Solutions & Vendors\",\"description\":\"BI Guides, Analysis and Best Practices\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/solutionsreview.com\/business-intelligence\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c\",\"name\":\"Tim King\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg\",\"caption\":\"Tim King\"},\"description\":\"Tim is Solutions Review's Executive Editor and leads coverage on data management and analytics. 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