Company Name: Splunk
Weight: 3.34% of Eventide Gilead (#3 of top 10 holdings)
Theme: Big Data, Business Intelligence, IoT
Businesses today have so much data at their disposal. These data hold the answers to what’s working and what’s not. By understanding their data, companies can be nimble and dynamic; they can be smarter and more strategic. The problem is wrangling this data and interpreting it. ‘Machine data’ (data that’s produced by software and electronic devices) is growing at a rate 50X that of traditional business data. In the aggregate, this can become what is known as ‘big data’ (on the order of terabytes, even petabytes of data). How can companies make sense of all of it?
Splunk is working on just that. Their name derives from ‘spelunking’ – the term for cave exploration – which offers a helpful metaphor. Their machine data software platform lets companies collect and then visualize these data so they can – like cave explorers – dive into the data to discover what’s there. Splunk is thus helping companies transition away from outmoded business decision-making based on gut, to modern data-driven decision-making that can lead to competitive advantage. Splunk's platform interprets big data for business intelligence and is trusted by 90 of the Fortune 100 companies. (Splunk is based in San Francisco, CA.)
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*A "Top 10" series is a series of articles based on top 10 holdings of a fund by weight.
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