Palantir – A long Term Winner
Palantir is an American software company that specializes in big data analytics, with a market cap of 43 billion. They started building software for the intelligence community in the US to assist in counterterrorism investigations by helping them identify patterns hidden deep within large data sets. Later, they realized that similarly to the intelligence community, commercial institutions did not have the most effective tools to manage and make sense of the data involved in large projects.
Any large scale company or business will always collect a ton of data most often stored in texts such as spreadsheets or databases (which requires programming knowledge to navigate through). A common issue large companies have is simply having too much data. Palantir creates software that consolidates a company’s data and displays it in a comprehensible, easily digestible user interface for the company to use. This allows Palantir to work with companies/organizations like the CDC for medicine, the military for national security, etc.
With Palantir, a normal non-technical operator can click their computer to pull up an order, or an issue that Palanrie detected, make any changes and or notify whoever needs the attention. Let’s take the CDC for example. When the vaccine rolled out, Palantir had a huge hand in this. Palantir gives a visual display of where the vaccine is going, how many, and any issues that have risen (if any), allowing for fast response time. For example, Palantir could display a map with the various routes to different deployment sites with pictures of a little truck representing the shipments being routed to their destination. An operator could click one of these shipments/routes and pull up any data of that specific point. With data being displayed and organized in this way it makes it easy to analyze data, where things are going, and what kind of picture the data represents, rather than staring at a spreadsheet of numbers. This is just one example, Palantir is customizable enough where it can represent any business/organization’s structure.
Palantir’s revenue streams consist of their two main software: Gotham, which was designed primarily for the defence and intelligence sector, and Foundry for the commercial sector. However, the platforms are not exclusive to either sector. For example, Gotham is also offered to commercial customers in the financial services industry. The two platforms can either be used separately or bundled together as a single ecosystem. Currently, revenue is more or less evenly split between the government and commercial sectors.
Gotham’s main tools include:
Gaia – lets users plan, execute, and report on operations via a shared live map. Live maps track real-time data and users drag and drop objects from other Gotham applications directly into Gaia.
Dossier – is a live collaboration document editor to share analysis and discover intelligence. Users can collaborate across teams and organizations to create a living, interactive, and up-to-date document.
Video – an application designed to interact with both streaming and historical video data. Users can review video footage in the platform as well as enhance raw footage with geospatial information and overlays based on other data sources.
Foundry’s main tools include:
Contour – enables exploration of large-scale data. Users can filter, join, and visualize datasets to answer analytical questions and publish the results as a report or new dataset that will automatically update with the underlying datasets.
Object Explorer – allows users to interact with data represented as objects – like customers, equipment, or plants – rather than rows in a table.
As we know, Palantir started in the defence and intelligence space. This required Palantir to have elite-level security from the start. Their software had to be secure enough to handle national secrets and transparent enough to ensure that the data could be monitored and traced. This was no easy feat, however, Palantir managed to achieve this, which is why they have been renewing their contracts with several government agencies.
This is important when trying to sell their products to their commercial clients because they need something safe and reliable to protect themselves and their data. Furthermore, Palantir currently has IL-5 clearance with the Department of Defense, which makes them 1 of 4 software companies with this level of clearance, alongside Oracle, Salesforce, and SAP (Google and Snowflake have IL-2 clearance). It has also been rumoured that Palantir may achieve IL-6 clearance, which has never been done before as it is the storage/processing of classified information.
This level of clearance should speak volumes to how safe and secure Palantir’s technology is and should provide ease of mind to companies that they are in business with.
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July 22, 2021 at 11:18AM