Monte Carlo Releases Data Observability Platform to Unlock the Potential of the Modern Data Stack

Monte Carlo, the data observability company, today announced the launch of the Monte Carlo Data Observability Platform, the first end-to-end solution to prevent broken data pipelines. Monte Carlo’s solution delivers the power of data observability, giving data engineering and analytics teams the ability to solve the costly problem of data downtime

As businesses increasingly rely on data to drive better decision making and maintain their competitive edge, it’s mission-critical that this data is accurate and trustworthy. Today, companies spend upwards of $15 million annually tackling data downtime, in other words, periods of time where data is missing, broken, or otherwise erroneous, and 1 in 5 companies have lost a customer due to incomplete or inaccurate data. As the number of data sources and complexity of data pipelines increase, data issues are an all-too-common reality, distracting data engineers, data scientists, and data analysts from working on projects that actually move the needle. 

In the same way that New Relic, DataDog, and other Application Performance Management (APM) solutions ensure reliable software and keep application downtime at bay, Data Observability solves the costly problem of unreliable data.

Introducing the Monte Carlo Data Observability Platform

Our category-creating Data Observability platform is an end-to-end solution for your data stack that monitors and alerts for data issues across your data warehouses, data lakes, ETL, and business intelligence. The platform uses machine learning to infer and learn your data, proactively identify data issues, assess its impact, and notify those who need to know. By automatically and immediately identifying the root cause of an issue, teams can easily collaborate and resolve problems faster. 

“The fastest thing that can destroy an executive’s trust in data is for it to be wrong — we make sure that doesn’t happen,” said Barr Moses, CEO and co-founder of Monte Carlo. “Over the last few years, businesses have moved from hoarding data to putting it to work for them. In my conversations with hundreds of data professionals I was struck by the fact that organizations were investing millions of dollars and strategic energy in data, but the people at the front lines couldn’t use it or didn’t trust it. With Monte Carlo’s Data Observability Platform, data teams can unlock the potential of their data and finally trust it to deliver value for their companies.”

The Monte Carlo Data Observability platform uniquely delivers: 

  • End-to-end observability into all of your data assets. Monte Carlo connects to your existing data stack, providing visibility into the health of your cloud warehouses, lakes, ETL, and business intelligence tools. 
  • ML-powered incident monitoring and resolution. Monte Carlo automatically learns about data environments using historical patterns and intelligently monitors for abnormal behavior, triggering alerts when pipelines break or anomalies emerge. No configuration or threshold setting required.
  • Security-first architecture that scales with your stack. Designed by security industry veterans, the platform intelligently maps your company’s data assets while at-rest without requiring the extraction of data from your environment and scalability to any data size. Monte Carlo never stores or processes your data – full stop.
  • Automated data catalog and metadata management. Real-time lineage and centralized data cataloguing provide a single pane-of-glass view that allows teams to better understand the accessibility, location, health, and ownership of their data assets, as well as adhere to strict data governance requirements. 
  • No-code onboarding. Code-free implementation for out-of-the-box coverage with your existing data stack and seamless collaboration with your teammates.

In September 2020, Monte Carlo announced $16 million in funding from leading venture capital firms including Accel and GGV, as well as DJ Patil, the former Chief Data Scientist of the U.S., and Eli Collins, the former Chief Technologist at Cloudera.

Availability

The Monte Carlo Data Observability Platform is currently available for qualified organizations. For more information, sign up to request a demo or attend our Data Observability Meetup on December 2, 2020 at 9:00 p.m. EST/6:00 p.m. PST!

Supporting Quotes 

Companies Pioneering the Data Observability Category with Monte Carlo

New Relic 

Media Assets and Official New Relic Logos | About New Relic

“New Relic is committed to helping engineers create more perfect software and derive better insights through full-stack observability,” Guy Fighel, General Manager, AIOps and GVP of Product Engineering at New Relic. “In the same way, Monte Carlo’s approach to end-to-end data observability makes it easier for data teams to monitor and alert for abnormalities in their data pipelines so that they can unlock the true potential of data-driven decision making.” –  

Mindbody

MINDBODY-Logo-Stacked-B2C-GrayRadiance | Global Wellness Summit

“Data-driven decision making is a huge priority for Mindbody, but our analytics are only as reliable as the data that informs them,” said Alex Soria, VP of Data & Analytics at Mindbody. “We are working with Monte Carlo to monitor and alert for abnormalities in the data life cycle that would otherwise go unnoticed until it’s too late. By partnering with Monte Carlo, my team can achieve full data reliability across our pipelines. Monte Carlo’s field-level lineage for Tableau is out of this world.” 

Hippo Insurance 

Hippo Home Insurance Review | ValuePenguin

“Hippo is revolutionizing the home insurance industry, an effort that is only possible if the data we use to build our products and fuel our operations is reliable,” Neta Gur-Ari Krakover, Senior R&D Manager of Data at Hippo Insurance. “Monte Carlo ensures data reliability through their robust data observability engine, giving us visibility into core pillars of data health. With Monte Carlo, I know that our data pipelines are in working order and my executives and partners can trust our analytics.” 

Industry Leaders Supporting Data Observability at Monte Carlo

Snowflake

File:Snowflake Logo.svg - Wikimedia Commons

“Snowflake is committed to helping companies unlock the true value of their data and analytics through the Data Cloud,” said Benoit Dageville, Snowflake Co-founder and President of Products. “As companies leverage more and more data sources and cloud data ecosystems scale to meet the demands of the enterprise, it’s important that data is reliable and accurate at all times. We’re excited to empower Monte Carlo to achieve their innovative vision for end-to-end data observability with Snowflake’s single, integrated platform and give their teams the ability to trust their data across the entire data engineering life cycle.”

Looker

Looker - Crunchbase Company Profile & Funding

“Looker gives teams self-served insights into their analytics through powerful data experiences that deliver actionable business outcomes. As part of this vision, we are excited to have an integration with Monte Carlo to ensure that the data fueling these insights is accurate and reliable,” said Shohei Narron, Technology Partner Manager at Looker, the business intelligence and analytics platform from Google Cloud. “Through Monte Carlo’s new Looker integration, mutual customers can now trace field-level lineage all the way down to Looks, Explores, Reports, and Dashboards, facilitating greater visibility into the health of their data pipelines and the insights those pipelines deliver. We look forward to continuing working with Monte Carlo to stop bad data in its tracks and deliver data observability to companies worldwide.”

About Monte Carlo

As businesses increasingly rely on data to drive better decision making, it’s mission-critical that this data is accurate and reliable. Billed by Forbes as the New Relic for data teams and backed by Accel and GGV, Monte Carlo solves the costly problem of broken data through their fully automated, end-to-end data observability platform.

Monte Carlo is hiring for Sales, Marketing, Customer Success, and Engineering! Learn more: careers@montecarlodata.com