Concept: American technology startup NetSpring has rolled out an AI-based cloud application platform-as-a-service for quick, continuous actionable business insights from operational event data. The new operational intelligence platform leverages AI and ML to generate continuous actionable insights from streaming event data-in-motion and static reference data-at-rest that enables faster analytics and operational decision-making. The new platform continuously monitors every event in the system and proactively alerts users of anomalies and patterns of interest in data in real-time.
Nature of Disruption: NetSpring’s platform is based on Converged Analytical Processing (CAP), Relational Event Streams, and NetScript language technologies. It includes a unified command center that is integrated into the everyday operations of an enterprise. The platform uses real-time interactive dashboards for the visualization and analysis of key operational business metrics. It uses a no-code visual explorer interface to perform event flow and dimensional slice-and-dice analytics of the data generated by the enterprise. Leveraging CAP, NetSpring’s platform offers a scalable converged streaming and batch query engine with integrated storage. This enables it to address various operational intelligence use cases. Using the new operational intelligence platform, clients can run low-latency queries on streaming data and act on sudden business events with manual and automated corrective actions across external-facing applications and internal infrastructure. Leveraging the new platform, users can benefit from continuous engagement with customers, optimized and personalized product experiences, dynamic supply-demand matching, operational efficiency of production facilities, and efficient financial and security risk management.
Outlook: With increasing digitization, automation, and instrumentation of digital experiences and growth in the number of connected devices, organizations are witnessing an explosion of data volume. The freshly generated, raw, and transaction-level data generated is immediately actionable and has the potential to form various operational business decisions, improving the efficiency, and profitability of the organization. With traditional analytics systems that run as an offline process, the companies miss out on taking full advantage of the fresh data generated from day-to-day operations. NetSpring claims that the new operational intelligence platform enables clients to extract meaningful insights from fresh data in real-time. In December 2021, it has raised $13M in Series A funding led by Dell Technologies Capital with participation from Khosla Ventures and Wipro Ventures . The startup plans to use the investment to strengthen its engineering including its SaaS infrastructure. It also plans to expand its sales and marketing teams to increase the reach of the new platform.
This article was originally published in Verdict.co.uk