Market Mine

FirstRain and The World of Digital Business Intelligence

Delivering Unique Business-Relevant Tweets: Facebook IPO

Today’s Facebook’s IPO although a more consumer focused interest story then what most of our customers are interested in, brought a huge amount of tweets on the subject as expected. (I would even venture to say that it was more then a ‘consumer interest story’ but rather a ‘human interest story’). None the less, being that FirstRain is a Silicon Valley based company, the buzz is also being felt strongly outside the digital world for those of us that live here and have friends and acquaintances that are being directly impacted by facebook’s IPO. Exciting times.

Yesterday, prior to Facebook’s IPO we ran some stats using our FirstTweets™ technology and then redid the same exercise at the close of the market today. FirstTweets™ uses our patented FirstRain technology to uncover and deliver only high-quality, business-relevant tweets to sales and marketing professionals across the enterprise. Our analysis shows that less than 0.1% of daily tweets contain quality, business-related content, yet this still represents more than 200,000 tweets per day of business-focused intelligence.

The picture painted by the stats that we captured, aren’t surprising but are interesting and illustrative on why our customers are seeing value in our FirstTweets- as YY Lee our COO tweeted this morning allowing them to “cut through the frenzied roar to net out the actual business discussion…”.

On the day before Facebook’s IPO:

At the close of Market on the day of Facebooks IPO:

Announcing a Breakthrough in B2B Twitter: FirstTweets™!

We’ve had an amazing year here at FirstRain. Over the course of just the last year, we’ve launched an intuitive new Web app interfaceelegant iPad and mobile apps, and then our powerful new Enterprise Customer Intelligence System for end-to-end, company-wide intelligence integration.

And now today is another big day at FirstRain—but it’s also a big day for the social enterprise platforms like Chatter, Yammer and Jive because now, for the very first time, Twitter is useful for B2B professionals.

For some time now, media and brand monitoring solutions like Radian6 have been tapping into Twitter so that companies can see what their customers are saying. If United Airlines loses your luggage and you gripe about it on Twitter, United can see that. But solutions that provide consumer tweet monitoring are hopeless if you are a B2B professional trying to find useful and breaking industry news in Twitter about specific companies, products or business lines.

We’ve now solved that problem, and are announcing FirstTweets today. This is the world’s first solution for extracting business-relevant Twitter Intelligence. FirstTweets™ is a part of our FirstRain Enterprise Customer Intelligence System. It is a technology breakthrough that solves the Twitter problem for business executives: how to get business value and intelligence out of the 250 million tweets that Twitter produces daily.

Our analysis shows that more than 99.9% of all Twitter is non-relevant to business professionals, making it effectively impossible to get to the still more than 200,000 tweets per day of daily business intelligence buried inside.

Now, by using FirstRain’s patented semantic analytics, our system provides the ability to easily and effectively access the business intelligence hidden within the Twitter stream. FirstTweets™ collects and organizes real time industry and customer-specific information to uncover revenue opportunities, including customer developments, industry trends, news, market analysis, emerging themes and so much more.

This intelligence is then be easily integrated into different workflows, including iPads and other mobile devicesCRM systems,social enterprise platforms like Chatter, Jive, Yammer and SharePoint, or any workflow that works best for sales and marketing teams.

FirstTweets™ will be available to all users this Wednesday and will be included for FirstRain subscribers. It’s another exciting innovation by FirstRain, and I look forward to hearing what you think.

FirstTweets in Chatter FirstTweets from FirstRain

FirstRain Named One of Lead411’s ‘2012 Hottest Silicon Valley Companies’

Lead 411 Hottest Silicon Valley CompaniesToday, Lead411 released their “Hottest Companies in Silicon Valley” awards for 2012. It’s extremely gratifying to be a part of this list, and we are honored to be among this exciting roster of cutting-edge companies. Thank you so much to Lead411 for their recognition, and congratulations to all of our fellow award recipients.

FirstRain was chosen from a pool of over 3,190 companies in the Software, Wireless, Internet, Hardware and Media industries after the Lead411 research team scoured through press releases and business articles, including venture capital financings, company launches, office openings, new customer press releases, etc., and used this information to select the list of Silicon Valley’s hottest, fastest growing technology companies.

This award comes on top of the KMWorld 2012 “100 Companies That Matter in Knowledge Management” award we received earlier this month, and the great press coverage we got following the release of our “Enterprise Customer Intelligence System”. It’s been a great start of the year for FirstRain and you can expect to see more exciting news coming from us soon!

For more information on this award, please check out the Lead411’s press release.

Announcing FirstRain’s New Enterprise Customer Intelligence System

Today is a very exciting day for FirstRain, as we accomplish yet another important milestone in delivering groundbreaking intelligence solutions to our customers. This morning we’re announcing the launch of the first ever Enterprise Customer Intelligence System.

The news today is the release of our new workflow and integration system that lets you use FirstRain intelligence on your customers and market wherever you are: it doesn’t matter if you’re on the road, at a customer site, on your iPads (see the FirstRain iPad App in action here), iPhones or Android phones, via email, or integrated directly into company CRMs or social enterprise portals such as Salesforce.com, Jive or Microsoft SharePoint - it’s all easy now.


We are seeing two huge waves of change impacting sales and marketing teams today: the introduction of Social Enterprise platforms and the iPad, which over 90% of the Fortune 500 are deploying or evaluating right now. Our new solution is intended to make it easy for you to use FirstRain seamlessly in your new workflows and so grow your revenue and market share.

This new system is an extension of the powerful semantic analytics technology you may already be using, but now it’s an end-to-end integrated solution for highly personalized, yet easily managed, customer intelligence across your entire enterprise. This is the information that customers like you already rely upon to continuously stay aware of the critical developments that impact revenue growth and renewal in your business—it’s what we call Enterprise Customer Intelligence (ECI).

We’ve been working on this version of the system for over 2 years – first we went after the quality of the customer and market intelligence our customers are already using – and now we have released the workflow to match your enterprise. We have developed it in collaboration with many of our leading enterprise customers in technology, communications, life sciences, materials and financial services.

If you’re one of the customers who has helped us develop and hone this exciting innovation, thank you! And if you’re one who has not yet had the opportunity to see how our new ECI System can help your organization get even more out of the great FirstRain intelligence you receive today, please, drop me a line.

Customer Love

There is nothing that feels as good as an email from a customer like this one we received today. This is from a company who wishes to remain confidential – but suffice it to say they are a large customer and have 9,000 employees using FirstRain intelligence. Well done Cory, Sagar, Ashutosh, Sweety and the rest of the support team. And thank you Jeff for your support of my team.

Cory and Team:

I just wanted to pause and say “thank you” to each of you for the hard work you do to produce and modify the [internal name they use for FirstRain daily intelligence briefs]. Your good work is evident each and every week and our [internal] clients are very pleased with [internal name]. Please know that your hard work is not going unnoticed and that you are having a positive impact with each [one] you produce and modify on behalf of our [internal] clients.

Job well done!!

Jeff

Fidelity, FirstRain and the iPad

The iPad is changing the world so fast sometimes it is hard to believe. We released our iPad app in early October. It’s such a hot, sexy app that now I lead off with it. Every time I meet with a prospect the first thing I show them is the Business Web on my iPad (usually pre-configured for their market) and then I’ll describe what we’re doing and why.

And to my delight I find that many of our prospects and customers are investing so heavily in the iPad that they can immediately relate to how FirstRain fits. But more fun than that is the new apps I get to see, often before they have been released. BI apps, sales apps, fashion apps… the world is going iPad.

Today Fidelity announced a major update to their iPad app – this time including FirstRain content. Fidelity has been our customer for many years now, but over the past few months it’s been exciting to work with them on integrating our sector and stock research into their iPad app.

Like we have done online, we are providing Fidelity with Hot Topic research, centered around sectors and trends – what’s rising? what should you as an investor be paying attention to? when you see a topic you want to drill in on, what are the recent developments that help you understand it?

You can download the new Fidelity iPad app for free on the iTunes store. To see hot topics, open it up and click on Research (tab at the bottom of the home screen). Chose hot topics and you’ll see the key active sectors and what’s changing . We identify what’s changing and what’s hot using our analytics technology – identifying clusters of topic, detecting anomalies, comparing them to past patterns, analyzing the new pattern to see if it shows a rising event. Here’s the landing Hot Topics screen this morning:


You see a list of sectors – swipe right to see more. Within each sector you can then drill down into a topic and see the latest business web news and understand what’s behind the trend. For example here — drilling in on Automobile Fuel Efficiency:


The topic research page shows you not only the news you need to read but also the stocks related to the trend that you may want to do deeper research on, and the volume of conversation on the Web on the topic you are researching so you can get a sense of how active it is.

Good apps on the iPad are simpler and easier, and more pleasurable to use than web apps. There is something about the simplicity combined with the tactile experience that changes how we feel about using the application, especially for non technical people and the older generation. We have only had the iPad for 2 years now… it is just the beginning of a sea change that will sweep how we all interact with both professional and consumer applications.

FirstRain Selected as Innovative Company to Watch!

One of the challenges with creating something that’s truly new and innovative in a market is the anxiety you inevitably feel as you wonder whether the market itself is ready for your solution. But when you have really smart people who see an opportunity for technology to solve a real problem in a totally new way, sometimes you take a leap of faith that the market will respond and then a really interesting adventure will begin.

And so, it was extremely gratifying to see the announcement yesterday that the analyst firm IDC has included FirstRain in its 2011 list of “Innovative Business Analytics Companies Under $100M to Watch.” FirstRain was one of 6 companies selected, and one of just two specifically focused on the discipline of Cloud-Based Analytics. According to IDC, this designation is given to companies recognized by their analysts as “driving innovation in business analytics.”

As an analytics software firm whose patented technology solves the challenge of delivering relevant, Business Web content to professionals in Sales, Marketing, Competitive Intelligence and other key roles, this recognition by IDC is yet another validation of the importance of the problem we’re helping our customers solve, and it’s terrific to see a leading analyst firm like IDC recognize the role FirstRain is playing. We’ve seen it in the great customers we’re signing every day, with the amazing product feedback we hear from those customers, and now we’re hearing from the analyst community too. It looks like this adventure is getting bigger!

Two of my loves just merged: FirstRain and the iPad

We announced the FirstRain iPad app yesterday. Our new iPad app marries the elegance of the iPad with the precision of FirstRain’s business Web. It’s visual business monitoring – slick, fast, cool, beautiful, powerful – all the adjectives we can’t use in a press release but want to say. I truly love it and it’s now how I stay on top of my customers, our industry and everything else business wise that I need to know in a few minutes a day.

If you are in sales, marketing or purchasing, or you are a partner in a law firm, or a librarian, or a MI or CI professional, you are going to want a FirstRain subscription and this app. You are missing developments in your market, your customers, your vendors TODAY that you can now see real-time with the gentle swipe of a finger.


Fidelity: Unlocking the Business Web™ for Retiring Baby Boomers with FirstRain

One of the more fascinating developments in our rapidly evolving financial markets is the shift that’s beginning to occur as the Baby Boom Generation—whose oldest members turn 65 this year—approaches and enters retirement. And while this event raises many societal challenges, ranging from the increased load on our health care system to the solvency of our social entitlement programs, it’s equally interesting to consider those folks who are recognizing the emerging needs and opportunities presented, and coming up with innovative ways to fill that need. And it’s a big need.

An interesting article last week from Canada’s Financial post articulates well the big demographics changes to come for countries like the U.S. And Canada, and the potential impact and opportunity for financial service providers:

“As you assess the stock holdings in your portfolio this fall, consider this: According to recent population projections, the proportion of seniors in Canada could nearly double in the next 25 years, while the proportion of children is expected to continue falling. If these demographic changes occur, it will have a major impact on the Canadian economy, which in turn will impact your investment portfolio…Financial service providers, especially wealth and asset management companies, also stand to benefit as an enormous amount of wealth is controlled by the Boomer generation. Institutions that cater to the specific needs of older clients will capitalize on this growing segment.”

One great example of a firm actively adapting to meet this opportunity is Fidelity Investments, who announced this week the launch of a greatly expanded set of market research and education tools focused specifically on helping Baby Boomers and others learn about and select fixed-income market investments. It’s a smart move, and we at FirstRain were very pleased that our technology was selected as one of the top tools available in the new Fidelity fixed income research suite. As their announcement notes, Fidelity users will be able to leverage a custom FirstRain implementation that provides, “trends analysis on the fixed income markets, so investors can see what fixed income topics are being discussed online and with what frequency. The content is categorized and investors can drill down into subcategories that change daily, depending on what is being discussed online.”

It’s a powerful tool that builds on the quite successful and popular FirstRain ‘Hot Topics on the Web’ tool that Fidelity users have already been using on the Fidelity.com Stock Research Center since 2009 (we’re told FirstRain hot topics are very popular on the page).

FirstRain ‘Hot Topics on the Web’ on Fidelity.com’s Stock Research Center

And the reason, we believe, it’s been so successful is because of the incredibly targeted, unique and interesting content we’re able to uncover from the business Web. Because, at our heart, we’re an analytics software company which applies powerful technology to uncover hard-to-find business content: our customers consistently tell us they find content on FirstRain that they wouldn’t otherwise find or would take them a great deal of advanced searching.

Fidelity has been a fantastic partner to work with over the last two years, and we’re very much looking forward to our expanded relationship and tackling these new challenges—and the opportunities they now present!

FreePint’s VIP Review: FirstRain is a Product Business People Will Actually USE!

We’re all very excited here at FirstRain, as we’ve just seen the product review of FirstRain published this month by VIP Reports and (in a slightly more condensed form) in the August 2011 edition of VIP Magazine. VIP Reports aim to provide product and vendor reviews of premium content products. We were delighted to have VIP’s report author Perrin Kerravala, Senior Librarian at Export Development Canada, analyze FirstRain and share an inside look into how effectively our solution can help deliver The Business Web to busy professionals. The Report walks readers through the basic workings of the product and offers a detailed product review (including screenshots and a step-by-step guide).

In short, it’s a great review, and the VIP Report highlights a number of the attributes that make FirstRain such an asset to businesses:

• “FirstRain is primarily a current awareness research tool that makes free, relevant web content easy to find.” (Emphasis theirs)
• “[FirstRain] Vastly increases precision when searching for quality business information on the internet, largely thanks to the FirstRain Business Web taxonomic system.”
• “FirstRain enables users to build sophisticated Monitors very quickly using a three-step process.”
• “Numerous mobile and enterprise integration options allow organisations to choose the method of content delivery that works best for them.”
• “[FirstRain] is suitable for users at all levels of research expertise—novice to expert searchers. The product’s customisable monitoring functions and content delivery options make it a good option for busy C-Level executives.”

A really positive review like this one provides just one more validation that FirstRain is a solution that can truly meet the needs of sales, marketing, legal, CI, research and many other professionals who need to find information to make business decisions. For example, selling and rolling out a solution is one challenge, but delivering a solution that people actually find value in and continue to use on a daily basis is quite another. Fortunately, we know how good the active usage by our customers of FirstRain actually is, but it’s wonderful to see this strongly supported, as when Ms. Kerravala suggests, “… FirstRain is effective and user friendly—ensuring that users will come back to it, time and again.”

Just one more exciting day at FirstRain! To see the full report, visit FreePint at: http://firstra.in/vipfirstrain