TIBCO Spotfire. Benefits and Features

Spotfire allows users to combine data in a single analysis and obtain the same overall view through interactive visualization. Spotfire software makes businesses smart, provides AI-driven analysis, and makes it easier to plot interactive data on the map. The platform can help companies easily convert data into powerful insights in a shorter time. It speeds up data analysis across the organization to make decisions faster, more confidently, and more accurately.

Data discovery and visualization

Companies are now flooded with large amounts of structured and unstructured data from different sources, and it is difficult to analyze the data. Nonetheless, today's data discovery technology powered by artificial intelligence and machine learning takes data analysis to a new level. Spotfire allows data discovery, where we can search for data like a simple web search.

Dashboard and analytics applications

Creating operational dashboards and analytical dashboards has never been easier. Spotfire makes it so easy to share and publish them directly to a tablet or desktop through a zero-footprint web client. Because these features are role-based, analysis can be shared securely, can be heard at will, and will be retained over time. This approach encourages exploration and collaboration, and presents clear information through impressive data displays.

Predictive analysis

Predictive analysis includes certain statistical techniques, such as machine learning, data mining, and predictive modeling. These techniques analyze current and historical data and predict future events or unknown events. In Spotfire Predictive Analytics, we can predict emerging trends, take preemptive actions to minimize risks, and make better decisions with greater confidence.

It has three predictive analysis platforms:

• TIBCO Spotfire Statistics Service

• R's TIBCO Enterprise Runtime

• Spotfire predictive modeling tool

Advanced collaboration tools

Spotfire’s contextual collaboration capabilities uniquely support this natural decision-making process—from spontaneous and free-form brainstorming to decisions made in formal workflows—through a new level of social analysis. With Spotfire’s collaborative BI approach, we can capture moments of insights, ideas, and hypotheses with peers, consultants, and customers, and socialize them—whether in existing portals or Spotfire. From there, we have the ability to make smarter and more transparent decisions faster.

Why Spotfire?

When analyzing through spreadsheets or reports, large amounts of complex data become difficult; when processing data through graphs or charts, it becomes easier. Data visualization is a quick and easy way to convey and understand information. Spotfire makes visualization easier by presenting data interactively in the form of charts, graphs and 3D forms.

Benefits of Spotfire

• Spotfire helps identify areas for improvement. Let us assume a scenario where in your organization you find that there is an economic crisis and the stocks you buy are falling. Therefore, you can analyze the data of previous years and find the stocks that will rise in the next few days. Then, you ask your organization to invest in these stocks.

• Spotfire can help you in the following ways:

  • Spotfire helps to find the facts that disrupt the relationship between the customer and the organization.

  • It helps analyze the ups and downs of products in the market through graphical representations of product data sales and reviews.

  • It predicts sales volume.

  • With Spotfire, it is possible to predict the future by using statistical techniques to analyze past and current data.

  • TIBCO Spotfire enables users to handle hundreds of end users over the Internet with the help of a database, thereby significantly reducing the cost of ownership.

Features of Spotfire

• Big data analysis: Spotfire can process or analyze complex or big data.

• Content analysis: Spotfire can analyze content such as documents, news sites, customer conversations, and social media discussions to answer specific questions.

• Predictive analysis: A major feature of Spotfire is that it can predict features by analyzing past and current data.

• Data discovery and visualization.

• Dashboard and analytics applications.

• Advanced collaboration tools.

Advantages

• Ability to quickly identify outliers in the data set.

• Aggregate data and present them in dynamic charts.

• Visually identify clusters in the data set It's easy for new users to get started.

• Provide interactive, customized reports and dashboards.

• Handling multiple data sources.

• Paired with the cloud version, allowing users to access the library from anywhere with an internet connection.

Disadvantages

• Need more advanced application manual training.

• Advanced infrastructure lacks supporting documentation for external domain authentication.

• Administration panel could be improved in a way that there are fewer direct interactions with servers.

Conclusion

While Spotfire is a very powerful data visualization tool that allows users to access and combine data in a single analysis, the SolutionsHub provides a broad list of diverse connectors and plugins which can greatly simplify and improve your integration with TIBCO Spotfire.

You can transfer data from and to various resources with the help of our solutions:

• Import from SharePoint servers

• Export to Excel

Build visualized reports and many more. You can check out all of them in our catalog.