Unravel Data Recognized in Both Augmented FinOps and Data Observability Categories by Gartner
Unravel Data, the first data observability and FinOps platform built to address the speed and scale of modern data platforms, today announced it has been included as a Sample Vendor in the Gartner® Hype Cycle for Emerging Technologies in Finance, 2023 for both Augmented FinOps and Data Observability. Aimed at helping Chief Financial Officers (CFOs) identify the top emerging technologies shaping the future of finance, this Hype Cycle offers a 10-year outlook on the most relevant technology and data trends, and provides recommendations for CFOs looking to increase flexibility and resiliency while also increasing productivity and profitability.
As more data workloads move to the cloud, IT and financial leaders must increasingly measure and optimize efficiency (both cost and performance). Both augmented financial operations (FinOps) and data observability are crucial elements to this process, helping organizations maximize the business value of their data. According to the report, "data observability is a technology that supports an organizations' ability to understand the health of an organization's data, data pipelines, data landscape, and data infrastructure by continuously monitoring, tracking, alerting and troubleshooting issues to reduce and prevent data errors or system downtime."
The report further states that Augmented FinOps, "applies the traditional DevOps concepts of agility, continuous integration and deployment, and end-user feedback to financial governance, budgeting and cost optimization efforts. Augmented FinOps automates this process through the application of artificial intelligence (AI) and machine learning (ML) practices predominantly in the cloud to enable environments that automatically optimize cost based on defined business objectives expressed in natural language."
"As enterprises continue to move to the cloud and integrate AI into their everyday business practices, there is more demand than ever for visibility into cloud data spend in order to maximize ROI and the impact of AI on their business," said Kunal Agarwal, CEO and Co-founder of Unravel Data. "Unravel enables companies to visually see how their cloud data spend is trending for accurate forecasting and provides proactive alerts and guardrails to help govern that spend, as well as AI-driven automated suggestions for maximizing TCO of their cloud data platforms enabling data-forward companies to lead their markets with their AI initiatives."
The Unravel Data Platform provides organizations with data observability on data workload spending, and an early warning system for alerting on out-of-control spending, while offering an automated way to pinpoint the source of cost overruns. Unravel Data enables each of the three FinOps phases for modern data platforms, such as Databricks. These include:
- Inform: Unravel provides granular visibility required to manage allocation, consumption efficiency, and charge/showback at the job, user and workgroup levels
- Optimize: Unravel maximizes business impact of available budget and resources by optimizing data workloads to perform to required SLA's at most efficient cost
- Operate: Unravel delivers ongoing, continuous improvement through cost governance and self-service optimization to reliably predict costs and maximize value (ROI)
At the core of Unravel Data's platform is its AI-powered Recommendation Engine, which understands all the intricacies and complexities of each modern data platform and the supporting infrastructure to optimize efficiency.
For more information on how Unravel Data is helping organizations around the world control cloud costs, please visit https://www.unraveldata.com/finops-data-teams/.
Gartner, Hype Cycle for Emerging Technologies in Finance, 2023, By Mark D. McDonald, Published 11 July 2023
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About Unravel Data
Unravel Data radically transforms the way businesses understand and optimize the performance and cost of their modern data applications and the complex data pipelines that power those applications. Providing a unified view across the entire data stack, Unravel's market-leading data observability platform leverages AI, machine learning, and advanced analytics to provide modern data teams with the actionable recommendations they need to turn data into insights. A recent winner of the Best Data Tool Platform of 2023 as part of the annual SIIA CODiE Awards, some of the world's most recognized brands like Adobe, Maersk, Mastercard, Equifax, and Deutsche Bank rely on Unravel Data to unlock data-driven insights and deliver new innovations to market. To learn more, visit https://www.unraveldata.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230720042543/en/
Contacts:
Blair Moreland
ZAG Communications for Unravel Data
unraveldata@zagcommunications.com
