|By Marketwired .||
|March 25, 2014 09:00 AM EDT||
BOSTON, MA -- (Marketwired) -- 03/25/14 -- Pioneering predictive analytics leader RapidMiner today announced the opening of its new worldwide headquarters. Located at 10 Fawcett Street in the Alewife area of Cambridge, Mass., the new office is designed to accommodate the firm's current and future growth and will also offer space to conduct classes and training for customers and partners.
RapidMiner is a recognized leader in advanced and predictive analytics, a market that is expected to grow globally at a compound annual growth rate of 30 percent between 2014 and 2018, according to a recent Research and Markets study. The company was recently positioned by Gartner, Inc. in the Leaders quadrant of the first "Gartner Magic Quadrant for Advanced Analytics Platforms," published February, 19, 2014.(1) The report is available at http://rapidminer.com/leader-gartners-magic-quadrant-advanced-analytics/.
Originally founded in 2006 in Germany, RapidMiner is redefining how business analysts use all kinds of data, including big data, to predict the future. The firm expanded to the United States in 2012 and in November 2013 obtained $5 million in funding to expand domestic and international sales and marketing operations and develop additional products. With an open source heritage, RapidMiner is one of today's most widely known and used predictive analytics platforms, providing powerful solutions that help organizations in a range of industries turn data into actionable output.
"Boston is a key global hub of advanced analytics activity," said Ingo Mierswa, co-founder and CEO of RapidMiner. "We feel that this area provides the talent, innovation and capital for a company poised to assume the dominant position in the category of advanced analytics."
A Leader in Predictive Analytics Continues to Grow
The company is on a significant growth trajectory, with 100 percent staff growth over the last 6 months and plans to more than double its workforce in 2014. Revenues have increased up to 300 percent per year since 2011, and today the company has more than 200,000 active users and 500 enterprise customers, including Lufthansa, PayPal, Pepsi, Sanofi, Siemens, Telenor and Volkswagen.
With 35,000 production deployments, RapidMiner offers highly scalable predictive analytics applications, including operational dashboards, metrics and performance reports in a single, easy-to-use platform that seamlessly integrates with popular enterprise data sources.
RapidMiner's predictive analytics software is helping companies across multiple industries -- including manufacturing, financial services, telecommunications and life sciences -- in areas where advanced analytics can make a significant impact, such as churn reduction, fraud detection, predictive maintenance, sentiment analysis and more.
With its move to the Alewife area, which coincides with the 102nd anniversary of the opening of the Red Line, RapidMiner provides an anchor employer to what has also been called the "Innovation Line." The moniker recognizes the linkage of institutions, ideas, innovation and entrepreneurship running through Cambridge and Boston, encompassing traditional technology hot spots like Kendall Square and newer clusters like the innovation district, downtown Boston, and Central and Davis Squares.
Boston will also serve as the backdrop for the 2014 RapidMiner World event, an annual global gathering of advanced analytics enthusiasts to be held in August.
"Everything about Boston -- the exceptional talent and its drive to be a world leader in the analytics community -- makes it the perfect environment for our company as we shift into our new phase of accelerated growth," said Mierswa.
Pioneering predictive analytics leader RapidMiner is redefining how business analysts use all kinds of data, including big data, to predict the future. With an open source heritage, RapidMiner is one of today's most widely known and used analytics platforms, providing powerful solutions for a wide variety of industries. For more information, visit www.rapidminer.com.
About the Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
(1) Gartner "Magic Quadrant for Advanced Analytics Platforms," by Gareth Herschel, Alexander Linden, and Lisa Kart, February 19, 2014