Behind the Investment: SingleStore – One Platform for all Data
In a world increasingly dominated by technology and software applications, the ability to manage large quantities of data across a number of use cases has become mission critical for everyday business activity. From processing large analytical workloads for business intelligence applications (e.g., SaaS dashboards) to powering high speed customer-facing applications (e.g., ATM transactions), databases have become the backbone for many fundamental business functions.
As such, it’s no surprise that the database market is large and growing quickly. New use cases emerge every day off the backs of rapidly growing software movements like the rise of AI / machine learning applications and the accelerating growth of the IoT market enabled by real-time data processing. As businesses increasingly recognize the importance of their customers’ experience, they place a heightened emphasis on offering high speed applications and real-time business reactions. With digital transformation permeating every industry, the demand for powerful databases to propel business activity continues to grow each day.
SingleStore takes a unique approach to the market by offering a product that enables all types of data use cases across every organization. Database use cases, and therefore database vendors, have often been segmented into either 1) analytical processing of larger data sets (e.g., business intelligence applications) or 2) transactional processing of smaller data sets (e.g., customer-facing applications), with the processing speed often correlated with the size of the data set. SingleStore breaks this mold by handling both large historical datasets and real-time transactions in the same system at ultra-high speeds, all while being SQL-based. From predictive maintenance to high speed BI dashboards to real-time analytics for algorithmic trading, SingleStore supports a wide spectrum of real-time applications. Simply put, SingleStore is one platform for all data.
Insight’s conversations with SingleStore (formerly MemSQL) date back several years. In that time, SingleStore released several game-changing offerings, including their managed cloud service and disk database capability, to strategically position themselves to tackle this enormous market opportunity. As customers transfer data to the public cloud, SingleStore’s SQL architecture and hybrid multi-cloud capabilities enable migration from legacy applications and data management across complex infrastructures.
SingleStore has demonstrated their market leadership both from their technical differentiation and forward-thinking strategic vision, and the Insight team could not be more excited to support them on the path ahead.