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Palantir Technologies, Inc.
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== Competition == Due to the nature of data analytics, a fast-paced, fast-growth market, shaped by constant changes within AI and machine learning technology, Palantir has been facing intense competition from both large software producers seeking to expand into data processing, well-established competitors and from startups innovating and developing new software. Although Palantir has established itself well within the market, its high costs, dependence upon large institutions and public controversy and criticism<ref>BBC, by Natalie Sherman, https://www.bbc.com/news/business-54348456</ref> may threaten its position long term. === Main Competitors: === ===== '''1. Cognizant''' ===== Information technology and consulting company. Founded in 1994, 2021 recorded revenue of 18.5 billion<ref>https://investors.cognizant.com/news-and-events/news/news-details/2022/COGNIZANT-REPORTS-FOURTH-QUARTER-AND-FULL-YEAR-2021-RESULTS/default.aspx</ref>. Competitor within big data analytics solutions, providing IT consulting and outsourcing of business processes from healthcare to banking companies. It provides companies with data analytics, using machine learning and AI to process data and offer solutions, similar to Palantir’s Gotham platform. ===== '''2. Alteryx''' ===== Data Science and Analytics company. Founded in 1997, 2022 recorded revenue of 855.4 million<ref>https://investor.alteryx.com/news-and-events/press-releases/press-release-details/2023/Alteryx-Announces-Fourth-Quarter-and-Full-Year-2022-Financial-Results/default.aspx</ref>. Alteryx Intelligence Suite product analyses complex data, generating simple structured reports to generate insights and make predictions. Intelligence Suite is a direct competitor of Palantir’s Foundry product. Alteryx Intelligence Suite although is more focused on specific industries, which gives it an edge in those in comparison to Palantir’s general-purpose data platform. ===== '''4. Splunk''' ===== Monitoring, analyzing and visualizing machine-generated data. Founded 2003, 2022 recorded revenue of 1.25 billion<ref>https://investors.splunk.com/news-releases/news-release-details/splunk-announces-fiscal-fourth-quarter-and-full-year-2023</ref>. Splunk offers Security Information and Event Management tools. It has specialised in machine-generated data, in comparison to Palantir that is able to process all types of data. Splunk analyses and monitors information and operational events within a company, increasing security and making troubleshooting and problem solving easier. ===== '''5. IBM Watson Studio''' ===== IBM, a leading software developer, has developed IBM Watson Studio, which offers data preparation solutions. IBM was founded in 1911, generating a revenue of 60.53 billion in the year of 2022<ref>https://www.ibm.com/annualreport/</ref>. One of the top competitors of Palantir Foundry, offering AI adoption for business, streamlining workflows by offering the development, training and management of AI and machine learning models, which are then able to analyse, visualise, clean and organise companies data, to help solve business problems and achieve analytics goals. ==== 6. Datadog ==== Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered as software-as-a-service, allows a client to monitor and analyze its entire IT infrastructure. Datadog's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to utilize it for a variety of different applications throughout their businesses. Their last recorded revenue was $1.65 billion, growing 63% year-on-year.
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