May 09, 2017 · source: incorta.com · News
Incorta Analytics Transforms How Toast Does Business
Toast Increases Revenue Using Incorta as Company-Wide Platform for Measurement and Decision-Making
SAN MATEO, Calif., — May 9, 2017 —Incorta, the real-time analytics platform that makes the traditional data warehouse obsolete, today announced that Toast has implemented Incorta as its end-to-end platform for measurement and decision-making. Using Incorta, Toast has gained real-time, in-depth insight into its business performance and is no longer spending weeks manually calculating past results. With instantaneous access to reliable, meaningful, and up-to-date information Toast is now able to continuously hone its business strategy, significantly increasing revenue.
Toast, an all-in-one restaurant management solution that is experiencing rapid growth, is using Incorta to gain near-instant access to indispensable analytical insight. The company is no longer spending weeks manually analyzing data to calculate last month’s business results, but is instead able to develop new reports and dashboards in just minutes and run existing reports in seconds—all on business data that is minutes old. As a result, Toast is able to quickly shift business strategy to address challenges and opportunities as they arise.
When selecting an analytics solution, speed quickly rose to the top of Toast’s priority list due to the vast amount of data—approaching a billion records—the company needed to analyze. When handling massive amounts of data, most analytics solutions require weeks, sometimes months, to create a new dashboard, and hours, sometimes days, to run a report. Incorta, on the other hand, offers the industry’s first Direct Data Mapping engine, which aggregates large, complex business data in real time, eliminating the need for costly join operations and making the traditional data warehouse obsolete.
Incorta’s speed has dramatically increased the efficiency of Toast’s Financial Planning and Analysis (FP&A) team, saving the group one week’s worth of time each month. The FP&A team—which is responsible for forecasting; budgeting; and analysis of variance, productivity, and efficiency—develops monthly reports analyzing departmental performance. Before Incorta, the team manually aggregated and analyzed data in an onerous process that left little time to consider the significance of the information and make meaningful recommendations for improving performance. Now, with Incorta, the team has time to analyze information in-depth, with the goal of solving challenges and boosting business results.
“It would be very hard to overstate the impact Incorta has had on our company, Toast Restaurant Operating System—it’s become the tool by which we measure and operate our entire business,” said Tim Barash, CFO, Toast. “Now, we know in real time what’s going well and what isn’t. It’s incredible to have that kind of information at our fingertips.”
“With Incorta’s innovative approach to analytics we’re able to provide companies with secure, sub-second access to meaningful business insight,” said Osama Elkady, Co-Founder and CEO, Incorta. “This means that organizations like Toast can focus on refining strategic business decisions instead of struggling to manually analyze days-old business data or use analytical tools that slow to a crawl when faced with billions of rows of data. Incorta users not only gain accelerated analytics, but also the additional time and detailed information they need to make faster, more-informed decisions that improve business results.”
Incorta’s enterprise analytics platform aggregates complex business data in real-time, bypassing the need for a traditional data warehouse. Powered by the industry’s first Direct Data Mapping Engine, Incorta provides unprecedented query performance and eliminates costly join operations altogether. Incorta reduces from months to days the time required to roll out new analytics applications, and reduces query and reporting times from hours to seconds. Backed by GV (formerly Google Ventures), Incorta is deployed in the Fortune 10 and powers analytics for some of the world’s largest and fastest-growing companies.
To learn the fastest way to what matters, visit www.incorta.com or join the conversation on Twitter @incorta.