Morningstar | Tableau Competitive Positioning Set to Improve Under Salesforce Umbrella
Big Data has spurred a revolution in enterprise business intelligence, or BI, as departments beyond IT crave insights into operational datasets that can yield mission-critical conclusions about how the business is operating. Tableau has capitalized on the burgeoning decentralized analytics market by developing interactive software that allows employees to take data analysis into their own hands. However, legacy business intelligence vendors have taken notice, and we do not expect competitive pressures to abate anytime soon.Tableau is regarded by practitioners as the gold standard among modern BI platforms. The firm has invested over a decade in data visualization, and this manifests itself into clear product superiority, evidenced by the depth of visualizations, breadth of collaborative opportunities and flexibility of deployment options. While Tableau has executed well to this point, we think the business faces long-term challenges. Many large-scale BI vendors such as IBM, Microsoft, Oracle, and SAP have added similar functionality to their product suites; all of these have larger installed bases and more lucrative economics. Further, the marginal utility of Tableau’s products is much greater for individuals with backgrounds in areas such as data science and statistics. For the typical knowledge worker within an enterprise, more economical offerings are more than sufficient. We think these factors relegate Tableau’s software to secondary status, given that the broader product suites of larger competitors are more deeply embedded within the daily operations of a typical enterprise. This limits Tableau's pricing power, as evidenced by declining ASPs despite rampant customer account growth.Still, with Salesforce’s recently announced acquisition bid, we believe Tableau will now have the opportunity to fundamentally alter the dynamics that have weighed on its competitive positioning thus far. Being under the Salesforce umbrella will give the firm access to a massive installed base, with the chance to quickly and materially widen the breadth of use-cases in which it is deployed.Tableau Software provides software products that enable a population of business users to engage with data, ask questions, and solve problems. The company provides four main products: Tableau Desktop, a self-service analytics product for anyone with data; Tableau Server, a business intelligence platform for organizations; Tableau Online, a hosted software-as-a-service version of Tableau Server; and Tableau Public, a cloud-based platform for analyzing and sharing public data. The company's technology, Visual Query Language (VizQL) for Databases is a visual query language for data that simultaneously describes how to query data and how to deliver it visually.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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