Market Perspectives

We are happy to share some insights about ThoughtSpot drawn from our latest market research, Ventana Research Buyers Guide: Analytics and Data, which assesses how well vendors’ offerings meet buyers’ requirements.

We recently published five Ventana Research 2023 Analytics and Data Buyers Guides, an assessment of technology vendors and products that provide individual and combined analytics and data, augmented analytics, collaborative analytics, embedded analytics and mobile analytics and platform support.

At Ventana Research, we continue to believe that, for most use-cases, there is a clear choice for analytics and data platforms for any use in your organization. We developed five technology assessments and buyers guides to focus on overall analytics and data requirements as well as specific augmented analytics, collaborative analytics, mobile analytics and embedded analytics use-cases.

In all of our Buyers Guides, we utilize a structured research methodology called the Value Index that includes evaluation categories designed to reflect real-world criteria incorporated in a request for proposal (RFP) and vendor selection process for analytics and data. We evaluated ThoughtSpot and 21 other vendors in seven categories, five relevant to the product (adaptability, capability, manageability, reliability and usability) and two related to the vendor (TCO/ROI and vendor validation). To arrive at the Value Index rating for a given vendor, we weighted each category to reflect its relative importance in an RFP process, with the weightings based on our experience and on data derived from our benchmark research on analytics and data.

In the overall Analytics and Data Buyers Guide, our analysis classified ThoughtSpot as a vendor of Merit, ranking 19th in the overall research at 54.0%. ThoughtSpot’s best performance came in Customer Experience at 44.3%, ranking 14th, due in part to its 14th-place ranking in Validation. In Product Experience, ThoughtSpot placed 17th at 55.8% due to low performance in Capability. ThoughtSpot did not participate in the RFI process.

ThoughtSpot’s Product Experience was impacted by its 50.3% performance in Capability, where it could provide better support for collaboration. Customer Experience was impacted by its 43.8% performance in TCO/ROI, where it could provide more information and tools for quantifying benefits and costs.

ThoughtSpot performed best in Product Experience, notably in Usability, where its 69.0% performance was due to its adaptation to different users and competence levels. In addition, ThoughtSpot’s configuration and customization capabilities led to its 68.9% performance in Adaptability. In Capability, it performed well in search and collaborative sharing of objects in third-party products.

In the Augmented Analytics Buyers Guide, our analysis classified ThoughtSpot as a vendor of Merit, ranking 17th in the overall research at 51.8%. ThoughtSpot ranked higher in Customer Experience at 14th with 44.3% performance , due in part to its 14th-place ranking in Validation. In Product Experience, ThoughtSpot placed 17th at 53.4% due to low performance in Capability. ThoughtSpot did not participate in the RFI process.

ThoughtSpot’s Product Experience was impacted by its 44.9% performance in Capability, where it could provide more assistance for data access and preparation. Customer Experience was impacted by its 43.8% performance in TCO/ROI, where it could provide more information and tools for quantifying benefits and costs.

ThoughtSpot performed best in Product Experience, notably in Usability, where its 69.0% performance was due to its adaptation to different users and competence levels. In Capability, it performed well in search with its NLP, which it helped to pioneer, and SpotIQ, which provides automated anomaly detection and change analysis. Additionally, ThoughtSpot’s configuration and customization capabilities led to its 68.9% performance in Adaptability.

In the Collaborative Analytics Buyers Guide, our analysis classified ThoughtSpot as a vendor of Merit, ranking 16th in the overall research at 49.4%. ThoughtSpot’s best performance came in Customer Experience at 44.3%, ranking 14th, due in part to its 14th-place ranking in Validation. In Product Experience, ThoughtSpot placed 16th at 50.8% due to low performance in Capability. ThoughtSpot did not participate in the RFI process.

ThoughtSpot’s Product Experience was impacted by its 33.2% performance in Capability, where it could provide functionality to assign and track tasks as well as better annotation capabilities. Customer Experience was impacted by its 43.8% performance in TCO/ROI, where it could provide more information and tools for quantifying benefits and costs.

ThoughtSpot performed best in Product Experience, notably in Usability, where its 69.0% performance was due to its adaptation to different users and competence levels. In Capability, it performed well in sharing analyses as well as alerting and monitoring. In addition, ThoughtSpot’s broad configuration and customization capabilities led to its 68.9% performance in Adaptability.

In the Embedded Analytics Buyers Guide, our analysis classified ThoughtSpot as a vendor of Merit, ranking 19th in the overall research at 56.7%. ThoughtSpot’s best performance came in Customer Experience at 44.3%, ranking 14th, due in part to its 14th-place ranking in Validation. In Product Experience, ThoughtSpot placed 18th at 59.2% due to low performance in Capability. ThoughtSpot did not participate in the RFI process.

ThoughtSpot’s Product Experience was impacted by its 55.1% performance in Capability, where it could provide more data integration functionality. Customer Experience was impacted by its 43.8% performance in TCO/ROI, where it could provide more information and tools for quantifying benefits and costs.

ThoughtSpot performed best in Product Experience, notably in Usability, where its 69.0% performance was due to its adaptation to different users and competence levels. In addition, ThoughtSpot’s flexible configuration and customization capabilities contributed to its 68.9% performance in Adaptability. In Capability, it performed well in customization and API functionality.

In the Mobile Analytics Buyers Guide, our analysis classified ThoughtSpot as a vendor of Merit, ranking 15th in the overall research at 57.4%. ThoughtSpot’s best performance came in Customer Experience at 44.3%, ranking 14th, due in part to its 14th-place ranking in Validation. In Product Experience, ThoughtSpot placed 16th at 59.9% due to low performance in Capability. ThoughtSpot did not participate in the RFI process.

ThoughtSpot’s Product Experience was impacted by its 56.6% performance in Capability, where it could provide better support for annotations and notifications. Customer Experience was impacted by its 43.8% performance in TCO/ROI, where it could provide more information and tools for quantifying benefits and costs.

ThoughtSpot performed best in Product Experience, notably in Usability, where its 69.0% performance was due to its adaptation to different users and competence levels. In Capability, it performed well in search, interactivity and offline functionality. In addition, ThoughtSpot’s configuration and customization capabilities led to its 68.9% performance in Adaptability.

This assessment was based on ThoughtSpot Analytics, Version 9.4.0, and was available in July of 2023.

This research-based index is the most comprehensive assessment of the value of analytics and data software in the industry. Technology buyers can learn more about how to use our Buyers Guide by clicking here and included vendors that wish to learn more can click here. Click below to read the individual reports:

Analytics and Data Buyers Guide

Augmented Analytics Buyers Guide

Collaborative Analytics Buyers Guide

Embedded Analytics Buyers Guide

Mobile Analytics Buyers Guide