Introduction:
Airbook is a platform that recognizes that decision-making in organisations is a collaborative process, but the current data solutions available are not capable enough to provide a solution that brings everyone involved in the analytical workflow together on the same page from Day 0. Airbook combines the power of a modern analytics solution to carry out complex cross-functional analysis, but at the same time provides a user experience simple enough for business teams to collaborate with data teams over every step of the decision-making process, not only on finished reports. Airbook acknowledges that the analytical workflow is broken and fragmented. Business teams often live on dashboards or spreadsheets, Data analysts use SQL and BI tools and live elsewhere, Data scientists use R or Python to build models and they live on other tools as well. Both, business and data teams are active contributors throughout the decision-making process but they’re siloed across at least 8 to 9 unique tools. With its collaborative data workspace, Airbook unifies the entire analytical workflow end-to-end.
Airbook is positioned to address the challenges faced by organisations when it comes to leveraging data effectively and collaboratively.
The platform allows users to bring data from over 200 applications into a single place, generate insights using both code (SQL/R/Python) and code-free (Drag-drop reports, NLP) interfaces, get feedback, support recommendations and answer questions with data in confidence knowing everyone's on the same page at all times. By making the underlying business logic, context, and narrative visible, Airbook helps build confidence in data and facilitates a shared understanding among team members.
Airbook's unique value proposition lies in its ability to combine different data tools into a single collaborative workspace. This integrated approach sets it apart from traditional data tools that often lack collaboration features.
Furthermore, the timing is favourable for Airbook, as advancements in data warehousing and the modern data stack have increased the efficiency and accessibility of data. The shift in the role of analysts from SQL experts to data advisors also aligns with Airbook's collaborative approach, enabling analysts to focus on understanding the business context and driving decision-making.
Airbook adopts a pay-as-you-go model, allowing individuals to start with a free plan and upgrade as their team and data grow. To acquire customers, Airbook plans to leverage various channels, including LinkedIn outreach, email marketing, content partnerships, engagement through communities like Slack and Twitter, a Data Playbook Gallery offering templates for specific use cases, a freemium product model, and investing in SEO/SEM to improve visibility. Referral programs will also be implemented to encourage customer referrals, further driving customer acquisition.
Given the increasing demand for collaborative data tools and the market opportunity presented by Airbook's unique offering, there is a strong potential for Airbook to capture a significant share of the market.
The team behind Airbook, Hoshang and Vishal, bring valuable expertise and a deep understanding of the challenges faced by businesses in the data realm. The founding team's strong experience working as founding data professionals with several organisations in The Silicon Valley and Boston and their grit to solve this problem they faced personally provides confidence in their ability to develop and scale the platform. With a clear market opportunity, a differentiated product, and a well-defined customer acquisition strategy, Airbook has the potential to achieve substantial growth and establish itself as a leading player in the collaborative data workspace market.
Market Opportunity:
The number of job openings with "data" in the title increased by 135% from 2017 to 2021. In the future, there will be a 36% growth in employment for data practitioners from 2022 to 2031, which is faster than the average growth rate for all jobs at 5%. However, it's not just data professionals who can benefit from Airbook. There is a growing group of non-technical professionals in various business functions such as Product, Marketing, Sales, Customer Success, Finance, and Operations who want to do more with data and are now required to be analytically proficient, creating a significant market opportunity for Airbook. In simpler terms, anyone who works with data and needs to present it has faced challenges that Airbook can help solve.
The global data analytics market was valued at $241 billion in 2021 and is expected to reach $656 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2029. This growth is driven by the increasing use of data analytics tools for forecasting, the shift to public cloud platforms, and the integration of artificial intelligence (AI) and machine learning (ML) in business applications. Despite potential economic challenges, businesses are recognizing the need for data-driven decision making and technology to achieve their goals more efficiently. Furthermore, the adoption of cloud data warehouses has significantly increased over the past decade. The proportion of corporate data stored in the cloud rose from 30% in 2015 to 60% in 2022. Cloud infrastructure spending reached $90 billion in 2022, showing a 22% year-over-year growth, the highest since 2018. With the rapid expansion of cloud data platforms and the availability of ETL (extract, transform, load) and data maintenance tools, it has become easier than ever to adopt and maintain a cloud data warehouse. This increased usage of cloud data platforms has created a higher demand for tools like Airbook, which streamline and facilitate the entire analytical workflow while promoting collaboration. Airbook is initially going after mid to large technology enterprises in the United States, making it an initial market size of $1.2 Billion. In time, Airbook will expand its offerings to address use-cases in other industries and geographies.
100X.VC Thesis:
The players in the market including Jupyter Notebooks, Google CoLabs etc are focussed on collaboration amongst Data Scientists. Airbook brings the first product focussed on the niche of individuals in operating functions closer to business teams who also leverage data to make decisions. This is a blue ocean opportunity for them to dominate before spreading elsewhere. The team comes from a background of RevOps and data science, and are scratching their own itch. With a blue ocean market that others can not focus on, and a team that has clarity on direction and execution, 100X believes Airbook will create a significant mark in the new era of data solutions.
Conclusion:
In conclusion, Airbook presents a compelling investment opportunity in the collaborative data workspace market. The startup aims to address the challenges faced by organisations in leveraging data effectively by providing a comprehensive solution that combines digital notebooks, querying interfaces, and visual reporting tools. By fostering collaboration and ensuring teams are always on the same page when it comes to data, Airbook empowers organisations to make informed decisions and drive business growth.
