GoodData has acquired Czech data storytelling firm Understand Labs to enhance its AI-driven analytics platform and improve user experience.

Information on the Target

GoodData, a leader in AI-native analytics solutions, has announced its acquisition of Understand Labs, a Czech company established in 2021. Understand Labs, founded by Peter Fedorocko, who was previously the co-founder and CTO of Stories.bi (acquired by Workday), specializes in data storytelling and agentic analytics experiences. The company's pioneering approach addresses the critical ‘last mile’ challenge in analytics, ensuring businesses not only visualize data but also derive meaningful insights from it. Their flagship software development kits (SDKs) facilitate custom data storytelling solutions tailored for various industries, including e-commerce, retail, logistics, and media.

Industry Overview in the Czech Republic

The Czech Republic has been witnessing a significant digital transformation, especially in the field of analytics and artificial intelligence. The government has put a strong emphasis on supporting the tech industry through favorable policies and funding initiatives. This supportive environment has led to the establishment of numerous startups specializing in innovative data solutions, among which Understand Labs has emerged as a notable player.

In recent years, industries across the Czech Republic have increasingly recognized the importance of data-driven decision-making. The growing reliance on analytics stems from various sectors, including retail and logis