Qlik acquires Knarr Analytics to enhance its product offering
Qlik – the analytics company, yesterday, acquired Knarr Analytics to enhance its real-time intelligence capabilities. Knarr Analytics is a start-up that offers real-time collaboration, sophisticated data exploration, and insight capture capabilities. The acquisition will help Qlik build on its Active Intelligence vision where technology and processes trigger immediate action from real-time, up-to-date data to accelerate business value across the entire data and analytics supply chain.
“Every process and decision can be informed and enhanced by real-time data to trigger action and augment decision making when it matters most – what we call Active Intelligence,†said James Fisher, chief product officer at Qlik. “Acquiring Knarr Analytics will help us further advance customers’ Active Intelligence, enabling tighter collaboration between data stewards and business users that will increase data use and value throughout the organization.â€
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Knarr IP will enhance the Qlik Sense analytics cloud platform Insight Advisor experience, as well as the data exploration experience in the catalog. Qlik’s customers will realize increased value and benefits through:
- Sophisticated visual exploration of underlying data models before building analytics​
- A glossary in the catalog for added business context, helping data consumers understand what specific data will best help answer their questions​
- Real-time, multi-player collaboration to generate insights interactively with a team, helping organizations remove barriers between data and analytics users​
- Ability to capture and share these insights with notes and snapshots, while automatically capturing the exploration state and context, enriching understanding and driving action​
- Increased effectiveness through machine learning of Qlik’s unique approach to Augmented Intelligence, helping drive more complex analysis and better outcomes for users of all levels​
While the companies haven’t disclosed the terms of the deal, Knarr co-founder and CTO Speros Kokenes, will be joining Qlik as a member of the Applied Research and Emerging Technology team. The deal also transfers all of Knarr’s IPs and assets to Qlik, which means, Knarr Analytics products will no longer be available to new customers. The company plans on providing support and services to existing prospects and partners throughout 2021.
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Marketing Analytics in 2020: Bigger Than Ever
The business intelligence and marketing analytics space is projected to grow at a compounded annual growth rate (CAGR) of 14.5%. The COVID-19 crisis has accelerated digital transformation for organizations and is serving as a key catalyst for the analytics’ market growth. Organizations – even those with limited analytics experience – are investing in analytics software to guide their decision-making process. Analytics capabilities that once might have taken these organizations months or years to build have come to life in a matter of weeks. This is despite organizations simultaneously grappling with the challenge that pandemic-induced behavioral and economic shifts have rendered some historical data useless.
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Brands have realized that data-driven decision-making is the most effective marketing strategy for uncertain times. Yesterday, we wrote about how even traditional CRM providers are integrating analytical capabilities to offer customers a more compelling solution. Qlik’s acquisition of Knarr is testament to the fact that the marketing analytics market is set to enter its most aggressive phase of growth as businesses reopen and economic recovery gets underway.