10/12/2023 0 Comments Splk seeking alphaSplunk highlighted some of the things it did differently when architecting its cloud platform, including the separation of compute and storage, improving its query language to include support for more languages, the improvement of its streaming engine, and new partnerships with cloud providers. Splunk highlighted most of the benefits of being a cloud-native platform, including faster time to value, greater business continuity, accelerated innovation rate through faster releases, and tailored machine learning insights gathered from its customer base. This capability gives a peek into how Splunk can play in the data management space. Splunk already has a streaming engine, like an ETL (extract, transform, load) tool for moving data between cloud and on-prem networks. I expect Splunk to evolve capabilities similar to Snowflake in the future. Readers will recall Snowflake's ( SNOW) recent IPO, which drove data platforms to the limelight. This trend is expected to improve Splunk's platform strategy while aiding its cross-sell motion. In the future, the consumption of solutions in each of the buying centers is expected to converge in a trend called DevSecOps. Observability (DevOps), security operations, and IT operations are segregated into standalone categories called buying centers. By providing intelligent IT services and support offerings, Splunk can help enterprises solve their growing IT challenges. Besides complementing DevOps and security teams, ITOps also helps enterprises to evolve fast in a workplace that is becoming more distributed. In IT operations, Splunk provides capabilities such as event analytics and management, service monitoring, incident response, and AIOps. Splunk has acquired capabilities to solve most of these problems largely from its acquisitions of SignalFx and Omnition in 2019. These include the provision of flexible pricing options, extensible APIs for data sharing, cross-platform integration with other IT tools, and support for open-source platforms. The need to monitor the reliability and availability of enterprise apps and workloads means observability vendors have to evolve their capabilities to provide valuable offerings to enterprises. Enterprises now have to monitor apps, cloud infrastructure, user experience, and network traffic at a large scale with multiple development iterations. In the observability space, the need to adopt agile software development methodologies to meet the fast pace of innovation in the IT space has driven the adoption of observability platforms. This isn't different in the security vertical as enterprises rely on its SIEM solution to correlate security logs, alerts, and analytics. Splunk's unique capabilities in data analytics and log management have been differentiating factors as it enters new verticals. At the heart of its security strategy is its cloud SIEM (security information and event management) solution. Splunk provides solutions that address a wide array of problems in the cybersecurity space, including fraud detection, threat detection, forensics, security operations, security automation, instrumentation, response, and orchestration. The growing volume of cyber attacks, data breaches, security regulations, standards, and the fast-evolving threat landscape are some of the trends driving the demand for cybersecurity solutions. The goal, I believe, is to help customers make better use of their data. This vision explains its recent expansion into the security operations and observability verticals. The vision for its data-to-everything platform is to provide solutions that meet the data needs of its customers. Splunk is an enterprise software platform that provides cloud and on-prem solutions for IT teams. This article explores the new capabilities and the implication of its improved go-to-market strategy and long-term financial forecasts. Splunk also shared its long-term financial projections. Splunk introduced a couple of innovative offerings during the session, provided a roadmap for its cloud migration, and highlighted the impact of the migration on its financials. The session highlighted Splunk's progress towards achieving its cloud migration strategy. Before the session, Splunk was already doing a great job at communicating its evolving cloud strategy in the face of growing innovation from competitors. Splunk ( NASDAQ: SPLK) recently had its annual investor and analyst session.
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