San Mateo, California, October 25, 2011 - FirstRain, an analytics software company providing Marketing, Sales, Finance and Knowledge Management professionals access to the business Web through its Business Monitoring Engine™, today announced it has been selected as an “Innovative Company Under $100M to Watch in 2011” as part of a new report released by IDC, a leading provider of global IT research and advice. Each year, IDC recognizes key business analytics vendors that are advancing around three major trends, collaborative decision management, cloud-based analytics and mobile analytics. FirstRain was mentioned as one of six companies driving innovation in this area. The report summary may be viewed here.
“We are delighted to be recognized by IDC as one of their ‘Innovative Business Analytics Companies to Watch’” said FirstRain CEO Penny Herscher. “IDC's acknowledgement of FirstRain's capabilities is a real testament to our record of innovation in putting truly valuable business analytics into action for enterprise business users,” said Herscher. “We are extremely proud to be one of the leaders in this exciting market.”
FirstRain was highlighted in the “Cloud-based Analytics” category, which IDC defines as analytic applications or business intelligence tools accessed through a public cloud. FirstRain was recognized in this category for their innovative use of semantic analysis to extract and deliver high-value information from the Web. As IDC observed, the value in using FirstRain, “is the breadth of its coverage, combined with its depth of selection and filtering so that it delivers the information that users need to see without cluttering their desktops or their minds with too much that is extraneous.” One prospect, the IDC goes on to note, selected FirstRain “because it was easy to integrate into existing information delivery channels and because of the high relevance of the information that it delivered.”
IDC's “Innovative Companies Under $100M to Watch” reports are a qualitative evaluation of a set of vendors within a specific market—they are not a stack ranking nor do they represent an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies in the report. IDC solicited entries from vendors of less than $100 million that exemplify specific key trends and respondents were asked to submit case studies that represented one of the three business analytics trends that were used as the basis for this year's award. These case studies were evaluated individually and independently by analysts across several predetermined criteria. The teams then met to review the scores that had been collected for the competing vendors. When significant differences in analyst opinion were discovered, the analysts debated the reasoning behind their scoring with an IDC vice president acting as moderator until a final list was chosen.
FirstRain is an analytics software company providing Marketing, Sales, Finance and Knowledge Management professionals access to the business Web through its Business Monitoring Engine. The company's semantic-categorization technology instantly cuts through the clutter of consumer Web content, delivering only highly-relevant intelligence from the business Web. Partners include leading research platforms such as Standard & Poor's Capital IQ, FactSet Research Systems, Fidelity.com and Mergent.
Based in San Mateo, Calif., FirstRain also has offices in New York and Gurgaon, India. For more information, please visit www.firstrain.com.
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