ITC DIA Europe

Squirro: driving decisions with data

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Oct 4, 2017

Switzerland-based Squirro is a Context Intelligence and Insights solution that allows organizations to manage data and unlock actionable insights. They simplify data discovery.
Their solutions are based on a platform of data engines, artificial intelligence and algorithms, allowing companies to automate the analysis of unstructured data from internal and external sources. Cognitive techniques are used to generate valuable insights and provide them directly where they are needed. As a result, up-to-date information about markets and customers can be integrated directly into a CRM or selected information can automatically be integrated to support the analysis of service tickets in service management systems. The use of Squirro technology enables every company to make effective use of their own data assets and a significant return on investment.

The rise of the Internet, the ubiquity of smartphones, and the rapid digitization of a previously analogue society have all contributed to today’s data-driven world. It is estimated that we produce around 2.5 exabytes (2.5 billion gigabytes) of data every single day. Enterprises have lots of data. But 90% of this data is never used beyond its creation. Why? 20% of this data is structured – log files, spreadsheets, tables. There are plentiful solutions out there from Excel to any Business Intelligence package. But most of the data, up to 80%, is unstructured data, such as call notes, meeting minutes, emails, documents and stored in data silos, e.g. CRMs & ITSM systems. This unstructured data is much harder to deal with: Most users don’t think of this data in terms text, notes, rows, columns or fields but of how to get their job done. This is what Squirro excels in: automatically detecting insights in (mostly) unstructured data. Squirro may be used stand-alone but can easily be integrated into enterprise software and processes such as CRM (Salesforce, Microsoft) or ITSM (ServiceNow, Salesforce ServiceCloud) or BI (Qlik, Tableau).

Comprehensive insights, at the right time, automatically
The Squirro insights technology is changing the way businesses understand and act on their data by using self-learning cognitive algorithms to remove the blind spots in key areas of operations, including customer service, ITSM and risk management. Ingesting and analyzing data from different sources – structured and unstructured, internal and external – the solution uncovers non-obvious connections, identifies anomalies and illuminates emerging trends that a human workforce may never see. Squirro delivers comprehensive insights, without having to invest a lot of time in research.

Squirro is present in Zurich, Munich, Barcelona, London and New York and works with global organizations and companies, mainly in the financial services, insurance, telecommunications and manufacturing industries. Customers are: Brookson, Evalueserve, Investec, Helvetia Insurance, Swiss Re and Wells Fargo. They are also one of the first companies which is being funded by Salesforce Ventures, which recently announced a $50 million fund to encourage startups to build AI-fueled applications on top of Salesforce.

Customer insights: turning data into a competitive advantage
Information alone is not enough – real value lies in how well a team can use all their information to better serve their clients. Squirro helps transform a data-rich environment to use efficiently and to create a complete view of the customer base. Now highly relevant data comes in the form of timely, actionable insights – directly into the customer’s Salesforce application. With Squirro companies Know who to call, when, about which opportunity, and what to recommend. Customer Insights targets insurance and reinsurance companies and within them the mid-markets to enterprise to 1st line insurance (for re-insurances) lines of business. Example of Impact: Positive revenue impact of +8% @ International Private Bank.

Service Insights: Insights for proactive incident management
Squirro’s Service Insights solution delivers actionable insights through a native dashboard or integration into world-leading IT service applications. By collecting and analyzing data from the service desk and configuration management databases, internal chat applications, Twitter and customer interactions, Squirro can swiftly identify connections in the data, noticing when help desk incidents begin to cluster around a certain topic and exposing unexpected links to system maintenance, upgrades, outages or other internal events. The Service Insights solution is suitable for any large (IT) operation of any insurance company. Example of Impact: Productivity gain resulting cutting on average 30% of the Mean-Time-To-Resolution (MTTR).

Cognitive search: from keyword to cognitive search
With knowledge workers spending hours and hours searching for the right information, the keyword-based era of enterprise search is drawing to a close. More suited to 21st century enterprises is cognitive search, which instead recognizes a user’s intent and interest to deliver more accurate and timely search results.

Why we selected Squirro for DIA Munich
Squirro’s insights technology is changing the way businesses understand and act on their data by using self-learning cognitive algorithms to remove the blind spots in key areas of operations. Squirro delivers comprehensive insights without having to invest a lot of time in research. Basically, it helps data-driven organizations harvest the content that matter, reduce costs and drive revenue.

Who is Squirro?
Founded in 2012 by Dr. Dorian Selz, CEO, Toni Birrer (CTO), Patrice Neff and Felix Hürlimann.  
The Zurich, Switzerland-based context intelligence & insights solution provider, recently completed a $10m Series B funding round.

The round was led by Orange Growth Capital with participation from new investor Salesforce Ventures, and existing investors. Squirro will use the new funding to accelerate growth in emerging markets, further strengthen its presence in North America and Europe, and reinforce the R&D team based in Zurich.

As enterprises look for more innovative ways to gain insights and manage their businesses in near to real-time, cognitive operations will become a standard approach to the way that businesses are run. In our view, Squirro is a recognized innovator in this space, and we look forward to helping our customers as we continue to expand our market presence and operations.” Dorian Selz, CEO and Co-founder of Squirro


Presenter 1: Michael Hubrich
Presenter 2: Wolfgang Rückert

Contact info: Maria Schuett
Email: [email protected]
Telephone: +44 7915 9073 50

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