RapidMiner Announces Record Revenue for Q2 2017
Increased demand for data science, machine learning driven by high value use cases
BOSTON, Aug. 16, 2017 /PRNewswire/ -- RapidMiner™, the company that delivers real data science, fast and simple, today announced another quarter of record revenue and new customer acquisition. Within the quarter, RapidMiner signed or expanded relationships with over 10% of the companies currently on the 2017 Fortune 100 Global List, and nearly 40% of Fortune 500 are active users of RapidMiner.
"High value business use cases need data science and machine learning. Organizations looking for customer analytics, operational analytics, and risk analytics are coming to RapidMiner in record numbers," said Peter Lee, chief executive officer at RapidMiner. "As a result, we are seeing accelerated momentum in every part of our business."
New customers signed by RapidMiner in its Q2 2017 are using RapidMiner for a variety of data science and machine learning initiatives, including predictive maintenance, customer segmentation, fraud detection, process engineering, demand forecasting, and text analytics. Among the new customers:
- A global payments technology company selected RapidMiner as a platform to enable its data science team to run customer analytics and other use cases on top of its Hadoop and Spark infrastructure.
- A manufacturer serving the semiconductor industry selected RapidMiner for operational analytics, using predictive maintenance to optimize production processes.
- A global bank selected RapidMiner for fraud analytics, using deep learning algorithms to prevent fraudulent transactions and identify financial crimes.
ezCater, the only nationwide marketplace for corporate catering, selected RapidMiner in Q2 for a predictive analytics project to better understand user behavior. "ezCater feeds business in 22 thousand cities across the U.S.," said Jeff Dwyer, software engineering manager at ezCater. "We are always looking for better ways to understand our users so that we can serve them better. RapidMiner lets me deliver sophisticated predictive analytics using data science and machine learning that is far more advanced than I'd expected we'd be able to achieve. At the same the visual workflow designer gives me a clear, simple solution that I can easily share with the team and other analysts."
In addition to strong new customer acquisition, RapidMiner saw a number of existing customers increase adoption during the quarter, including a global restaurant leader who expanded their usage of RapidMiner to deploy predictive offer optimization models to thousands of its franchises.
Product Highlights
RapidMiner 7.5 was released in Q2 with the following new capabilities:
- A new execution core that manages data sets in a more efficient way, lowering the memory footprint and significantly improving performance.
- Completely revised graph visualizations, including decision trees, clustering association rules, and more.
- New integration with Microsoft Azure Blog Storage and improved integration with Amazon S3.
RapidMiner released a number of new extensions into the RapidMiner community.
- Spreadsheet Table Extraction, providing operators to extract data tables from online spreadsheet applications and bring them into RapidMiner Studio.
- Data Search for Data Mining, which provides governed data discovery and integration for enriching an existing dataset with relevant new attributes.
- PDF Table Extraction, which provides a convenient way to extract data tables from a PDF document and bring them into RapidMiner Studio.
- A SharePoint Connector, which generates a list of files and folders of a site for usage inside RapidMiner Studio.
Company News
RapidMiner announced the Industrial Data Science Conference being held at the TU Dortmund University on September 5th, 2017. The Industrial Data Science Conference gathers experts from various industries to discuss use cases and best practices on data science and machine learning. Confirmed speakers include TU Dortmund University, Lufthansa Industry Solutions, Achenbach Buschhütten, BMW, Miele, Daimler, Volkswagen, ABB, Arcelor Mittal, and Deutsche Edelstahlwerke.
Other company news includes:
- RapidMiner was voted the most popular general Data Science platform in the annual KDnuggets poll on data science and machine learning tools.
- RapidMiner won the CogX A.I. Award for Best Innovation in Predictive Analytics
- RapidMiner was named a High Performer in the G2 Crowd Summer 2017 Predictive Analytics Software Grid, with the highest overall customer satisfaction.
- The RapidMiner Community grew to over 260,000 users during the quarter.
About RapidMiner
RapidMiner builds software for real data science, fast and simple. We make data science teams more productive through a lightning fast platform that unifies data prep, machine learning, and predictive model deployment. More than 250,000 users in over 150 countries use RapidMiner products to drive revenue, reduce costs, and avoid risks.
For more information, visit rapidminer.com.
Media Contacts:
Tom Wentworth, RapidMiner
[email protected]
+1 (617) 401-7708
SOURCE RapidMiner
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