New Name Highlights Company’s Strength, Breadth and Potential to Shape the World’s Data
MemSQL, The Database of NowTM for operational analytics and cloud-native applications, today announced a name change. The company is now known as SingleStore, which better describes the organization’s expansive value proposition.
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“Our research shows that 86% of organizations expect the majority of their data to be in the cloud”
“It is a momentous day,” said SingleStore CEO Raj Verma. “We have built a technology that can provide our customers with unprecedented speed, scale and concurrency. This is possible using SQL in a hybrid, multicloud manner that delivers the ability to manage all types of workloads – from historical to transactional to real-time operational data. We couldn’t be happier to call ourselves SingleStore, a name that aptly defines us and our ability to change how our customers use data. Companies around the world can use SingleStore to gain faster insights, eliminate complexity, and substantially lower the costs related to their data strategies.”
SingleStore provides a converged data platform for transactions and analytics, which organizations can use to process and analyze their most important time-critical application workloads. It handles structured, unstructured, and semi-structured data and is available in public clouds, on premises, and in hybrid deployments. The expanded vision for SingleStore announced today is the ability to access data located anywhere – even beyond SingleStore – through global federated access that provides greater flexibility and further simplifies cloud data management for organizations. The product has been the unrivaled leader for low-latency distributed SQL, NewSQL, and HTAP for years – and it is now expanding beyond that.
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Ventana Research said that the ability for data management to address data in the cloud is key.
“Our research shows that 86% of organizations expect the majority of their data to be in the cloud,” said David Menninger, senior vice president and research director of data and analytics research from Ventana Research. “About 99% of organizations expect to do analytics in the cloud, and half of them are already doing so. A third of all organizations’ primary data lake platforms are in the cloud. The cloud enables business processes to continue remotely during the pandemic, while offering opportunities for platform shifts and massive disruption. Software vendors that support modern, cloud-based architectures are generating significant momentum and are well-positioned to meet today’s enterprise data and analytics requirements.”
Howard Dresner, founder and chief research officer at Dresner Advisory Services, said his firm’s research indicates that “most organizations wish to utilize a single analytical data infrastructure platform to support multiple use cases and workloads.”
SingleStore’s Verma and Chief Product Officer Jordan Tigani will be talking more about the company’s new name and direction, as well as industry trends, during (R)Evolution 2020, a virtual event today. This event will also feature discussions by thought leaders and data experts, including SiriusXM + Pandora executive John Nicastro, Infosys President Ravi Kumar S, GE Global Chief Data Officer Diwaker Goel, and Constellation Research founder and analyst R “Ray” Wang.
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