Is Palantir the AWS of Data Analytics?
It comes as no surprise to anyone in the business world that companies are increasingly relying on data for everything they do. According to IDC, more than 80% of an organization's data will be unstructured by 2025. This means that customer records or important legal documents are siloed in different systems, which presents a challenge for traditional data solutions.
As a result, management could spend years working with high-cost consultants attempting to build in-house solutions. Fortunately, Palantir Technologies (NYSE: PLTR) develops a software-as-a-service (SaaS) platform called Foundry. Unlike much its competition, Foundry provides multiple capabilities as part of a unified platform. This helps prevent the risks that come with disparate technologies and ensures a seamless experience in which data history, security, and privacy are protected.
Amazon (NASDAQ: AMZN) also recognized early on that data was becoming more important for decision-makers within organizations. Just as Amazon identified that aggregating and storing data was going to become a problem, Palantir has identified that unifying and interpreting this data is becoming increasingly challenging as companies acquire more customers and invest in new operating systems.
Source Fool.com
