Data visualization may sound complex, but for new Tableau Software President and CEO Adam Selipsky, his company's world-class platform can be applied to everything from a baseball team to a liquor company. "What we're really about is helping people ...and more »
Data visualization may sound complex, but for new Tableau Software President and CEO Adam Selipsky, his company's world-class platform can be applied to everything from a baseball team to a liquor company.
"What we're really about is helping people see and understand data, and then eventually taking action based on that," Selipsky told "Mad Money" host Jim Cramer on Friday.
Selipsky nodded to his company's recent partnership with the Texas Rangers, who previously received data from a series of jumbled sources including individuals' Excel files that were difficult to share and integrate into their operations.
"With Tableau, everybody can pull from the same data sources, can share views of their data. They've got full tracking of who's coming to the ballpark, what they're buying at the ballpark, what's happening with operations, and even down to small things such as how many ticket booth staff do they need given what the weather is and how long is it before opening pitch," Selipsky explained.
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Tableau can even help Rangers' management save operating costs by releasing ticket cashiers when they know they will not be selling more tickets when a game is delayed by rain, the CEO said.
As more and more businesses turn to analytics platforms for more streamlined ways to receive and use company data, Selipsky said that the wealth of data being created by companies that use technology is a driving factor for Tableau.
Another one of Tableau's recent clients is Brown-Forman, the consumer products company behind Jack Daniels whiskey.
"They quickly ramped up to using Tableau for over 1,000 people within Brown-Forman. And they're really using us across the company, from optimizing their plant and manufacturing to making pricing decisions to using Tableau to analyze sales and marketing campaign," Selipsky said.
The CEO added that a major reason of why Brown-Forman chose Tableau over its competitors is because of its new subscription pricing, which allows companies to pay for the service in shorter, smaller increments.
And although fellow analytics giant Adobe Systems' move to subscription pricing hit the company's earnings numbers at first, Selipsky said that Tableau's eventual shift would benefit its clients and urged investors to focus on the new clients that come from the move.
"It basically is a customer risk reduction program. It enables them to really pay in shorter increments of time and to make shorter investments up front, save their cash, and gives them flexibility to make their deployments go both up and down over time as their businesses warrant," Selipsky explained.
"In the latest quarter we're up over 26 percent of our new license bookings or subscription, and I think that's going to be a really critical metric for us going forward," he added.
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