Written by Roman Stanek |
2020: A year of uncertainty, challenge, and growth
From the very beginning, GoodData’s mission has been to help every company make data-driven decisions via powerful analytics. The past year, however, brought unprecedented uncertainty and challenges to nearly every industry. And at the same time, the data landscape experienced immense transformation. Massive data warehouse IPOs have captured the entire cloud data market. This will redefine how data is managed, realign the data value chain, and, ultimately, result in data’s long-awaited “Decade of Growth.”
At GoodData, we’re seeing that growth reflected in significant momentum around our platform. The past year has been a pivotal one for our organization. We helped our customers reimagine their data strategies and build net-new revenue streams via analytical app development. We expanded our product offering to include new, critical development capabilities and brought on world-class executives, investors, and strategic partners. In light of this momentum, we’re excited to share our latest growth and we’re grateful for the incredible customers who partner with us. They share our vision for a future in which every organization — including their employees and customer ecosystem — has the ability to quickly and easily tap into their data to make better business decisions.
GoodData by the numbers
Let’s start with the numbers. We saw 63% of our customers spend more with GoodData in 2020. We also saw a 20% expansion across the board, indicating an acceleration in adoption and usage toward the end of the year. On top of that, recurring revenue from our self-service channel increased 9x. These are leading indicators that companies are increasingly seeing the importance of data within their organizations and are committing to cloud-based digital transformations.
This increase in customer investment came with major customer acquisition growth as well. Today, GoodData works with the largest financial services companies in the Fortune 500, including Visa, three of the ten largest EdTech companies in the world, and several of the largest global HR and AdTech companies, including a record-setting $14 million contract. These recent milestones include the announcement that leading digital payment provider Visa became an investor and strategic partner. Our partnership is a validator of just how critical interactive self-service analytics is for the future of not just the financial services industry, but enterprise organizations across industries.
Reinventing data analytics in 2021
Insights consumption and the adoption of analytical applications is growing, and GoodData’s 2021 roadmap is a reflection of this fact. We’re ready to help more organizations in more industries unlock business insights for their customer and partner ecosystems. The current redefinition of the data value chain represents the biggest opportunity since Y2K to reorganize data analytics and reinvent the norms of how companies use data. This a chance to break away from the muddled, fragmented data approach of the last decade, and embrace true modernization for the decade ahead. To learn more about partnering with GoodData, request a conversation here.
Written by Roman Stanek |