Based on its recent analysis of the Business Intelligence (BI) software and services market, Frost & Sullivan presents QlikTech International AB (QlikTech) with the 2009 Global Frost & Sullivan Award for Emerging Company of the Year in recognition of its ability to help customers attain superior return on investment (ROI) through its innovative solution called QlikView. QlikView's cutting-edge ability to deploy enterprise-wide business analytics at an affordable cost is truly praiseworthy.
Companies are increasingly being challenged by complex business problems, diminishing margins, shortening product lifecycles and increasing product variation. These key challenges are driving them to look for a solution that can provide cost-effective pro-active actionable intelligence. Traditional BI vendors are finding it difficult to deliver innovative solutions that enable customers to experience quicker ROI. However, QlikTech has clearly differentiated itself from traditional online analytical processing (OLAP) tools by developing an innovative technology, Associative Query Language (AQL), which enables computation of extensive data sets on low-cost hardware. AQL does not require any pre-defined data structures and facilitates dynamic queries.
"QlikTech has overcome the innate challenge of traditional BI solutions by mitigating the trade-off between solution robustness and its flexibility," says Frost & Sullivan Research Analyst Muthuraman Ramasamy. "The solution allows flexible in-memory analysis of multitude data sets on a cost-effective platform, unlike space consuming traditional BI solutions."
QlikView enables customers to establish instantaneous enterprise level scalability and extensibility. The solution's fully integrated suite, complex analytics, unified architecture and reduced operational expenditure are driving its rapid adoption rate. This is evidenced by the fact that, QlikTech grew from 1,500 customers in 2004 to over 10,000 in 2009.
"QlikView's capability to maximize business value through optimized resource utilization and reduced total cost of ownership positively impacts its customer's overall profitability thereby resulting in increasing orders," says Ramasamy. "The company had a revenue growth rate of over 80 percent from 2007 to 2008 as compared to the overall BI market growth rate of 11 percent during the same period."
QlikTech has partnered with industry leaders to be in line with technological advancements, thereby enhancing its solution offerings. QlikTech's collaboration with Intel Corporation® to drive BI decisions on 64-bit Intel Itanium 2 processor-based platforms is highly customer focused. Intel's Itanium™ processor based platform, offers greater scalability and has enabled QlikTech to achieve much higher memory capacity which translates into maximized performance for customers. In a complementary partnership, QlikTech leveraged Sybase Inc's robust analytics engine and unmatched scalability to offer its customers an intuitive dashboard for BI solutions.
QlikView, with its easy enterprise-wide scalability, and open interface remains a hallmark of innovation. In addition, the simple, scalable and cost-efficient user-licensing model could enable QlikView to be the BI solution-of-choice. The organization's innovative think-tank and best-in-class work practices have contributed to a significant growth rate and established an expanding customer base. Hence, Frost & Sullivan is proud to present the 2009 Emerging Company of the Year Award in the global BI software and services market to QlikTech.
Each year, Frost & Sullivan presents this award to the company that has emerged as a significant participant within its industry. The award recognizes outstanding management, superior market growth, exceptional customer service and the ability to combine technology and successful strategic initiatives. It lauds the recipient's exceptional know-how to take advantage of market changes through the execution of innovative strategies within the existing competitive landscape.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About QlikTech International AB.
QlikTech is the Business Answers company. Its flagship product, QlikView (qlikview.com), enables organizations of all sizes to unlock the value of their data to make better decisions that improve business results. Unlike traditional BI solutions, QlikView delivers immediate value with payback measured in days or weeks rather than months, years, or not at all. Through QlikView's disruptive, in-memory associative approach, business users have experienced unprecedented success and satisfaction. QlikTech is the only company in this market that offers a 30-day money-back guarantee. QlikTech grew by 50% in 2008 and has more than 10,500 customers in 92 countries and over 700 partners worldwide.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.