A large number of firms are still not making the most of their big dataRead More
Demand for big data drives Kognitio results
The increasing demand for big data analytics solutions from businesses of all sizes and across all sectors has been reflected in Kognitio's latest results figures, which have showed strong growth again.
For the fourth consecutive quarter, the data analytics provider has reported an increase in year-on-year revenues, aided by the addition of five new clients
North American customers contributed an increase of 43 percent on year-on-year revenue for the first three months of the 2014 fiscal year, while the order volume from these enterprises grew by 81 percent. Non-recurring revenues were up by 19 percent compared with the same period a year earlier.
What these figures show is that organizations' interest in taking control of their data and using it to inform their decision-making and improve operational performance is showing no signs of slowing down. This is particularly true of medium and large-sized businesses, which are seeing the volume and variety of information they gather growing so fast that traditional analytics tools are no longer able to keep up.
But with solutions such as Hadoop offering new capabilities, it is possible for businesses to manage this vast amount of data – which comes in from a wide range of sources and needs to be accessed from multiple locations – quickly and convert it into an easy-to-understand format that can be used by personnel throughout a business.
Commenting on the results, president and chief executive officer of Kognitio Steve Millard said: "At a time when companies are seeking big data solutions more than ever, we are successfully pointing to our track record of delivering an advanced in-memory analytical platform that complements their existing information management environment and primes it for growth."
He added that with momentum such a vital factor in any company's growth, Kognitio is in an excellent position to build on this platform and deliver the benefits of the Kognitio Analytical Platform to even more firms, which will help establish its position as an industry leader.