What is 1010data?
This might seem like a strange question to ask, but the fact is that 1010data is not an easy technology to classify. At the moment there are no products or services that are similar in overall capability to 1010data, although there are quite a few products which overlap some areas of 1010data’s application. The broad spread of 1010data’s capability has, in our view, led some industry analysts to misunderstand the technology.
- Complex Analytics – Oracle Darwin
- Interactive Analytics – Qlikview
- High Performance “Big Data” DBMS – Netezza
1010data fulfills all three roles, whereas the products with which it might be compared can at best claim to fulfill two of these roles. So you can use 1010data as a database that simply satisfies the query demands of a whole clutch of BI tools and you can also employ it as an analytical database that carries out analytical calculations, and many 1010data customers do.
However, in almost every case, 1010data’s customers buy the 1010data service for its interactive analytics capabilities. 1010data delivers a high performance Interactive Analytical Database and in that respect, it is unique. There are analytical products like Qlikview or Tableau or even MS Excel, that provide an interactive analytical capability, but they do not sit over very large volumes of data. They tend to sit over subsets of data drawn from a data warehouse or data mart.
1010data is interactive in exactly the same way that such PC-based products are. The user does something, such as pose a question, and the software responds quickly with the result. The user then does something with that result, such as join it to some other data, and again the software responds quickly. This way of working is highly productive, allowing a user to explore the data in ways that would be impossible without an interactive interface and fast database responses.
Given the uniqueness of 1010data, it is interesting that the evolution of the technology has been primarily customer-driven. The software engineers, Joel Kaplan and Sandy Steier, who built 1010data, entered the software industry from the IT user’s side. Originally they were employed by the Wall Street bank, Morgan Stanley, as part of the bank’s Analytical Systems Group, and there they pioneered the use of software as an enabling capability for financial traders.
That was back in the 1980s, when neither the PC nor the spreadsheet were widely used, Windows didn’t exist, and Unix servers were as rare as ATMs in Antarctica.
Moving from one employer to another, Kaplan and Steier built software that provided such capabilities for many years before they founded 1010data to build their own technology based on their experience and expertise in those financial environments. And naturally, from the get go, they sold 1010data to companies in the financial sector.
The technology didn’t start life in some other location on that diagram and gradually migrate to the center. It was designed from the start to be an interactive analytical database.
Another Rare Capability
Areas of Application for 1010data
- Risk Management: Risk management has, in recent years, grown from being an activity that was associated with banking, where risk was always the nature of the business, to almost any area of commerce from pharmaceuticals to energy that involves large investments and/or government regulation. Investment by its very nature, is a risky activity; so where there is large investment there is commercial risk. Risk management virtually demands the analysis of large amounts of data in order to quantify and minimize risk.
- Sales and Marketing: This has always been an application area for analytics. In recent times, computers have become powerful enough to analyze sales at a customer level on an item-by-item basis. Now, this is even the case in the telecommunications industry where the basic customer purchase is a single telephone call or text message. Because of its big data capability, 1010data is obviously suited to this area of activity.
- Security: This is another area where the volume of data has, until recently, defeated attempts to do analysis in a timely manner. In computer networks security breaches nearly always involve anomalous behavior. And that’s also true of credit card fraud. Indeed, it’s true of most instances of commercial fraud, money laundering and other nefarious activity.
- Machine Generated Data: This is an area of extraordinary data growth in recent times, whether you look at computer gaming, network activity in a computer network, RFID data or just usage logs on web sites. 1010data is relevant here by virtue of speed of analysis and the fact that it can handle very large amounts of data.
- Data as a Service. There are already quite a few companies in many sectors of the economy whose business is in gathering data and making it available as a service. 1010data has the advantage that it assists both in the managing and distributing such data and in providing a wealth of analytics capability that can be extended to any customer.
I think that should be enough for today?