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January - 2013 - issue > CEO Spotlight
Data needs to grow in Accessibility
Shashi Updhyay
CEO-Lattice Engines
Thursday, January 3, 2013
Lattice Engines, headquartered in San Mateo, CA, is a marketing and business intelligence platform provider using predictive and Big Data analytics for sales. Founded in 2006, the company has raised a total of $36.5 million to date from Battery Ventures, Sequioa Capital and New Enterprise Associates.

The amount of data the world produces every two days is equivalent to all the data produced from the beginning of civilization up to 2003. In today's digital age, companies and individuals are spewing out massive amounts of information about themselves on the web and in social networks like Facebook and Twitter, as well as via internal systems like customer relationship management (CRM) technology and purchase histories.

This vast ocean of data presents an unprecedented opportunity for businesses to gain insight on prospects and customers to predict the buying behavior. It is already a phenomenon on the consumer side, but is now extending to the sales tactics of B2B companies, starting with some of the world’s largest and most sales-savvy businesses.
The challenge for businesses is that finding useful information is a lot like looking for a needle in a haystack. Only 0.01 percent of data is actually useful for discovering buyers Intent.Big Data technology solves this challenge by applying highpowered analytics to extract insights.

As the amount of data the world is producing continues to grow exponentially, the insight it provides needs to grow in accessibility. Up until recently, Big Data was almost exclusively the domain of highly skilled data scientists. That is now changing as its value grows to the C-suite, who sees its potential to impact the bottom line. The company's solution, which is designed specifically for sales and marketing professionals, puts the power of data directly into the hands of business users. It's about making Big Data useful for everyone.

So entrepreneurs need to have a laser focus on the areas they believe their solution is most differentiated and can demonstrate results. The ability to show proven customer success from the use of Big Data is what is going to make companies stand out and become the next generation of technology industry leaders in this new world of Big Data.

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