Monte Carlo Launches Incident IQ
July 14, 2021
Share this

Monte Carlo released Incident IQ, a new suite of capabilities that help data engineers better pinpoint, address, and resolve data downtime at scale through the Monte Carlo Data Observability Platform.

Incident IQ automatically generates rich insights about critical data issues through root cause analysis, giving teams unprecedented visibility into the end-to-end health and trust of their data beyond the scope of traditional data quality solutions.

On average, companies lose over $15 million per year on bad data, with data engineers spending upwards of 40 percent - or 120 hours per week - of their time tackling broken data pipelines. 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 data downtime, in other words, periods of time when data is missing, inaccurate, or otherwise unreliable.

To help companies eliminate data downtime, Monte Carlo built Incident IQ, the first end-to-end solution that conducts root cause analysis for data issues at each stage of the pipeline, from ingestion in the data warehouse or lake to analytics in your business intelligence dashboards. Incident IQ automatically generates historical insights about your data to identify patterns in query logs, trigger investigative follow-on query results, and monitor upstream dependency changes to pin-point exactly what caused the issue to occur, reducing the amount of data incidents by 90 percent at each stage of the pipeline.

Developed after reviewing thousands of real data incidents from our customers, Incident IQ gives data engineers access to insights about their code, their data, and their operational environment that allows them to quickly and collaboratively get to the root cause of data problems -- all in a single UI.

With Incident IQ, everything related to the data issue is captured in an elegant timeline with easy commenting, documentation, and collaboration features to create rich post-mortems. This level of detail, common in software engineering and DevOps tooling, helps data teams learn from past incidents and determine where to allocate future investment. Additionally, Incident IQ makes it easy to create and share high-level incident reporting with CTOs and CDOs, fostering greater data trust and ownership across the company.

Core capabilities of Incident IQ include:

- Central UI that connects the dots between correlated causes of data incidents, and surfaces a historical collection of data incidents for quick comparison.

- Access to example queries that pull sample data, as well as rich query logs, historical incidents, and quick links to Monte Carlo’s Lineage and Catalog features, making it easy to identify, root cause, and fix data issues all from the same interface.

- Automatic insights based on the statistical correlation between table fields in anomalous records (for instance, Incident IQ can surface if an increase in order_id null values correlates with a specific order source).

- Automatic, end-to-end lineage that maps impacted downstream BI dashboards to the furthest upstream tables, helping teams narrow the focus of root cause investigations.

- Automatic runbooks and workflows to make the incident resolution and triaging process easy, fast, and collaborative between data engineers and analysts.

- Comprehensive query logs that reveal periodic vs. ad hoc queries, changes in query patterns, and more.

“As companies become more data driven, it’s fundamental that organizations not only understand the health of their data, but also have the data observability necessary to trust it from end to end,” said Lior Gavish, CTO, Monte Carlo. “As the data stack fragments to incorporate new tools, it’s becoming increasingly difficult to identify when data pipelines break and take action to fix them. With Incident IQ, data practitioners and leaders alike can holistically understand and respond to issues faster, before they become a serious problem for the business. We believe these features will help customers eliminate hundreds of hours of data downtime and thousands to millions of dollars in savings each month, as well as enable data platform teams to scale with rich post-mortems that track performance and facilitate greater learning.”

Monte Carlo is a Data Observability partner for the FinTech, e-commerce, media, B2B software, and retail industries, counting data teams at Fox, Vimeo, ThredUp, and PagerDuty among their customers.

In February 2021, the company announced their $25M Series B funding, led by Redpoint Ventures and GGV Capital, and was named one of the 2021 Enterprise Tech 30.

Share this

The Latest

October 21, 2021

Scaling DevOps and SRE practices is critical to accelerating the release of high-quality digital services. However, siloed teams, manual approaches, and increasingly complex tooling slow innovation and make teams more reactive than proactive, impeding their ability to drive value for the business, according to a new report from Dynatrace, Deep Cloud Observability and Advanced AIOps are Key to Scaling DevOps Practices ...

October 20, 2021

Over three quarters (79%) of database professionals are now using either a paid-for or in-house monitoring tool, according to a new survey from Redgate Software ...

October 19, 2021

Gartner announced the top strategic technology trends that organizations need to explore in 2022. With CEOs and Boards striving to find growth through direct digital connections with customers, CIOs' priorities must reflect the same business imperatives, which run through each of Gartner's top strategic tech trends for 2022 ...

October 18, 2021

Distributed tracing has been growing in popularity as a primary tool for investigating performance issues in microservices systems. Our recent DevOps Pulse survey shows a 38% increase year-over-year in organizations' tracing use. Furthermore, 64% of those respondents who are not yet using tracing indicated plans to adopt it in the next two years ...

October 14, 2021

Businesses are embracing artificial intelligence (AI) technologies to improve network performance and security, according to a new State of AIOps Study, conducted by ZK Research and Masergy ...

October 13, 2021

What may have appeared to be a stopgap solution in the spring of 2020 is now clearly our new workplace reality: It's impossible to walk back so many of the developments in workflow we've seen since then. The question is no longer when we'll all get back to the office, but how the companies that are lagging in their technological ability to facilitate remote work can catch up ...

October 12, 2021

The pandemic accelerated organizations' journey to the cloud to enable agile, on-demand, flexible access to resources, helping them align with a digital business's dynamic needs. We heard from many of our customers at the start of lockdown last year, saying they had to shift to a remote work environment, seemingly overnight, and this effort was heavily cloud-reliant. However, blindly forging ahead can backfire ...

October 07, 2021

SmartBear recently released the results of its 2021 State of Software Quality | Testing survey. I doubt you'll be surprised to hear that a "lack of time" was reported as the number one challenge to doing more testing, especially as release frequencies continue to increase. However, it was disheartening to see that a lack of time was also the number one response when we asked people to identify the biggest blocker to professional development ...

October 06, 2021

The role of the CIO is evolving with an increased focus on unlocking customer connections through service innovation, according to the 2021 Global CIO Survey. The study reveals the shift in the role of the CIO with the majority of CIO respondents stating innovation, operational efficiency, and customer experience as their top priorities ...

October 05, 2021

The perception of IT support has dramatically improved thanks to the successful response of service desks to the pandemic, lockdowns and working from home, according to new research from the Service Desk Institute (SDI), sponsored by Sunrise Software ...