Salesforce Unveils Cloud-Based Information Analytics System Called Wave

With the announcement of Wave, Salesforce plans to enter the data analytics and business intelligence busines.

The company unveiled Wave at the start of Dreamforce, its annual week-long event in San Francisco. Wave, a cloud-based information analytics system, will launch on October 20.

It’s a significant branch-out from customer-relationship management software. If successful, it will attract more customers to use their data centres to store information.

Salesforce acknowledged that “launching an analytics cloud is a departure from our core market” but says there is big—and growing—potential in the data analytics space relative to CRM. Data shows the analytics software software industry generated nearly $38 billion in the US in 2013, while the CRM market generated only $20 billion.

Wave is based off EdgeSpring, a company Salesforce acquired in June 2013.

More than 135,000 people registered to attend the 12th annual Dreamforce conference and more than three million people are expected to tune in online.

“At Dreamforce this year, attendees will see the future of cloud, social, mobile and connected technologies and how companies are connecting with customers in a whole new way,” said Marc Benioff, CEO of Salesforce.

Speakers at Dreamforce this year include former Secretary of State Hillary Clinton, former Vice President Al Gore, and rock legend Neil Young, as well as HuffPo founder Arianna Huffington and renowned venture capitalist Andreessen Horowitz. Meanwhile, Salesforce experts will lead more than 1,400 breakout sessions.