Importance of AI
Big data company Splunk (SPLK) has continued to drive its product portfolio through enhanced AI features, which may improve performance, profitability, and data security. Its open-source platform is available on the cloud, saving time and cost to deploy.
According to Splunk chief technology officer Tim Tully, “Our latest wave of innovation is intended to arm customers with the tools needed to translate AI into actionable intelligence. While AI and machine learning often seem like unattainable and expensive pipe dreams, Splunk Cloud and Splunk Enterprise now make it easier and more affordable to monitor, analyze and visualize machine data in real time.”
The application of AI may help Splunk customers forecast looming outages and see how its service could be affected by these upcoming outages, thereby avoiding risks. Splunk also announced the launch of Splunk Industrial Asset Intelligence, which allows manufacturers to monitor and analyze industrial IoT (Internet-of-Things) data in real time.
Product launches driving customer additions
The graph above shows Splunk’s total customer additions in the last five years. It has added ~10,200 clients at an average of 2,040 customers per year. Splunk exited fiscal 2018 with a total of 15,400 active clients, against 13,400 in fiscal 2017. The company aims to achieve 20,000 clients by the end of fiscal 2020.