A unified approach for data intensive applications
SingleStore is redefining the approach to database, by helping businesses operationalize all their data through one platform, allowing them to embrace as well as leverage diverse data and enhance real time decision making
Data collection, management and analytics today and more than ever before have a critical role in enabling businesses looking to wrest and sustain the competitive edge in their respective industries. It is true that effective data analytics can help organizations reimagine their businesses and pursue higher growth. However, if organizations haven’t invested in a data solution that has the capabilities to address different types of workloads and data, they are at a massive disadvantage. In the era of hybrid cloud and multi-clouds, this is a bottleneck that holds companies back from realizing their maximum potential.
A recent survey from SingleStore for instance reveals a serious challenge that organizations typically face with databases. In the survey, a vast majority (82%) of IT professionals admitted that they manage different versions of the same database, and nearly three-quarters (74.4%) said that they run into issues with their current data warehouses. While organizations frequently employ multiple databases because they require a range of functionality, many also manage different versions of the same database. Often, organizations invest in and operate separate operational databases and analytics databases. if organizations are still invested in databases that are not cloud friendly, they would be unable to take the advantages of digital acceleration where cloud adoption is key.
For many organizations, the challenge is to leverage the highly distributed, fragmented data that lies around in different systems as a unified whole. Without a unified view, it is not possible to get the real time insights that hold the real value in decision making.
The SQL-based database platform from SingleStore addresses this need for a unified view of data insights from organizations having workloads deployed across different environments from different cloud environments to on-premises, delivering real time reporting and insights, thereby helping them manage, analyze and leverage all the dispersed data. The SingleStore unified database enables fast analytics on any data, anywhere, to support organizations’ analytics and customer experiences. This distributed SQL database supports transactions and analytics; handles structured, unstructured and semi-structured data; and works in public clouds, on-premises environments and hybrid deployments. SingleStore unified database is provided as a service on Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, and Red Hat and through deployments with SingleStore Managed Service and SingleStore DB.
Founded in 2013, SingleStore has seen a rapid traction in terms of market demand for its solution in the recent past and especially more so since the pandemic, driven by the accelerated digital transformation initiatives at various organizations globally. With a $80 million in a Series E round funding late last year and a rebranding of the company name from its previous name MemSQL, the company is poised to meet the growing demand for HTAP (Hybrid transaction/analytical processing) database solutions that integrates transaction processing and analytics for real time data insights, a crucial advantage in business decision making.
Businesses today need a new generation of data analytics tools to ingest and extract critical business insights in real time as information keeps flying from the millions to hundreds of millions of sensors, mobile devices and applications. With its capabilities, SingleStore, as a unified database for fast analytics, is redefining the database industry by helping deliver real time analytics, operational AI and ML. A distributed, highly-scalable relational SQL database, it runs smoothly for both transactional and analytical data across hybrid, multi-cloud workloads. For organizations inundated with big data and the challenges of the pandemic, SingleStore delivers consistent low-latency query responses with the fast-changing data of transactional and analytical workloads. The solution helps companies accelerate and gain the benefits of digital transformation, primarily ensuring it can be effective in decision making during those crucial and transient business situations by accessing real time data insights from ‘in -flight’ transaction data. It is a game changing phenomenon, delivering sophisticated real time analysis of large volumes of data that helps companies predict and control business outcomes better than ever before.
SingleStore’s Unified Database solution resolves the challenge of being efficient for both transactional and analytical workloads without either interfering with each other. This ensures consistency in responses to queries in real time, essential for businesses to succeed in this era of increasing number of digital interactions and data explosion.
According to SingleStore CEO Raj Verma, “Organisations don’t need to contend with cost and complexity, lack of cloud support, performance and scalability limitations and multiple database platforms. SingleStore eliminates these pain points and provides all needed capabilities in a single, simple and unified solution. It supports transactions and analytics; handles structured, unstructured and semi-structured data; and works in public clouds, on-premises environments and hybrid deployments. The SingleStore unified database empowers organizations to do fast analytics on any data, anywhere to deliver differentiated customer experiences and better business results. And we do this with a leave-and-leverage rather than a rip-and-replace approach.”
SingleStore has also announced the availability of the only database in the industry that addresses both analytical and transactional workloads for the multi-cloud world. SingleStore users can scale their applications flexibly and cost effectively without compromising on performance. This marks a watershed moment for the database industry, which has historically architected databases for analytical or transactional workloads.
SingleStore has seen impressive growth in the recent past and has also expanded its strategic partnerships with companies such as SAS, Infosys, HCL, TCS and Bahwan CyberTek. The company has strengthened its leadership team with Paul Forte coming on board as the Chief Revenue Officer, Oliver Schabenberger as Chief Innovation Officer, and Former Veeva Systems’ CFO Tim Cabral as an addition to SingleStore’s board of directors. Very recently, SingleStore has also appointed Suresh Sathyamurthy as SVP of Growth and Marketing, bringing with him experience from senior roles at tech industry leaders Dell EMC, Microsoft and Palo Alto Networks.
The company has also launched its first innovation center in the US. The SingleStore Launch Pad exists to reduce the friction that organizations encounter in advancing their digital transformations and becoming more data-driven. This home of discovery and exploration will drive thought leadership about what is on the data and analytics horizon for SingleStore customers and enterprises everywhere. Work at SingleStore Launch Pad will include prototyping and identifying technological