FinTech Magazine - November 2021 | Page 84

SINGLESTORE
But Verma makes another of his intentions very clear . This seismic change in the way we need to manage and analyse and process data is also about collaboration between older legacy systems and the new kids on the block .
“ I ' m not here to beat up a competitor . I ’ m just saying they were used to handling the non-modern data , the pre-2008 data .”
Removing the barriers Verma says it was impossible for those nonmodern data enterprises to predict what was going to happen back then . He says when they began managing data with computer power it didn ’ t come with a warning that forty years on , data would start to engulf them . But he also says those that survived did so because they were nimble enough to react to the changes .
Nimble , yes . But , according to Verma this reactive approach was ultimately short sighted . He calls this the ‘ Swim Lane ’ mentality which companies adopted to ride out the tsunami of data .
“ All this data came at these enterprises so they started buying Oracle or IBM ’ s DB2 , Mongo or Couchbase or X , Y or Z technology – all in the hope these ‘ Swim lane ’ solutions would bridge the gap between modern data reality and the data architecture of the past .”
Verma says this has been going on for some time and there are at least three hundred of these ‘ Swim lane ’ databases to choose from . But , he says , this is ultimately a counterproductive strategy . This is where SingleStore comes in . From the outset , just under a decade ago , the SingleStore approach was not to pick a swim lane but remove the barriers .
“ Databases take a long time to build ,” says Rama . “ It ’ s been eight years from inception to our first release and now we are in the perfect position to take on the modern data era and provide companies with a single solution , so they no longer have to run multiple databases with all the complications which go with them .”
Verma describes how he sees the rapidly expanding service economy where everything is a service , everything is on 24 / 7 , the competition is a click away and the user experience is everything .
“ User experience and low latency are connected ,” he says . “ If I was to ask you if you want to stay on the end of the phone for one
84 November 2021