Data provider Knoema launches analytics platform for retail and CPG companies

Data provider Knoema launches analytics platform for retail and CPG companies

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Knoema, a data provider subsidiary of Eldridge Industries LLC, is teaming up with its Seek Data analytics consultancy on a new brand called Seek Inc. and introducing two new products today that provide preconfigured analytics and access to experts initially in the retail and consumer packaged goods markets.

Seek Insights is described as a set of vertical, turnkey analytics applications for use by business analysts that leverage first- and third-party data to solve high-value and repeatable enterprise problems. Insight Cloud is a cloud-native platform that connects industry experts with business analysts in such areas as sales strategy, distribution, inventory management, supply chain optimization and loyalty analytics.

The new offerings join Knoema’s existing Datahub, which combines first and third-party data with built-in analytics, dashboarding, portals and connections to common enterprise analytics and intelligence tools.

Seek integrates with several large technology and data platform providers including Snowflake Inc., Alteryx Inc., Crisp Inc., Atlas Technologies Group Inc. and Salesforce Inc.’s Tableau subsidiary. The company also said it received an investment from Snowflake Ventures but didn’t disclose the amount.

Analytics at scale

Seek Chief Executive Erik Mitchell exclusively told SiliconANGLE that the two companies’ strengths complement each other. “Seek Data focuses on highly repeatable use cases. The challenge was scaling as a services company,” he said. “Knoema had a great underpinning technology in Datahub. We’re taking the best of both worlds and building them into a product.”

The combined platform enables customers to access and discover data and applications at scale, Mitchell said. “Within that platform, there are a host of applications called Insights that are productized,” he said. “We’re essentially building turnkey applications that sit on top of the most widely used platforms.”

For example, he said, a large candy manufacturer used an application built on the Snowflake data cloud that predicts out-of-stock scenarios before they happen and permits orders to be placed early enough to prevent the 20% of sales that were lost to outages.

“The legacy Seek business was a consulting partner helping organizations derive insights,” he said. “There isn’t an insights problem; there’s an insights delivery problem. We’re creating a marketplace where experts can deploy applications on the Insight Cloud platform and we build out a process to do this in a scalable manner.”

Seek intends eventually to offer partners the ability to build and deploy their own applications in the marketplace. Mitchell said the company is looking at expanding into other vertical markets including financial services, media and entertainment but hasn’t made any decisions yet.

Photo: Pixabay

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