SAN FRANCISCO, April 11, 2013 -- SingleStore, the leader in real-time Big Data analytics, today announced it has been named a 2013 Emerging Technology Laureate by IDG's Computerworld Honors Program for its work with Morgan Stanley. The annual award program honors visionary applications of information technology promoting positive social, economic and educational change.
SingleStore's in-memory database enables real-time analytics on Big Data so organizations can make data-driven decisions, better engage their customers, and identify competitive advantages. As data volumes and velocities grow and accelerate, organizations are challenged to manage complex Big Data workloads. According to analyst firm Gartner, Big Data will drive $232 billion in IT spending through 2016.
"It's important for companies of all sizes to embrace the influx of data to gain valuable insights and make timely and critical business decisions," said Eric Frenkiel , CEO and co-founder, SingleStore. "SingleStore is honored to work with Morgan Stanley to unleash the full potential of their data and to be recognized as a technology innovator by the Computerworld Honors Program."
SingleStore worked closely with Morgan Stanley to create a real-time bond data application that is used by 25,000 financial advisors nationwide. SingleStore's in-memory technology allows the development team to balance high-velocity data streaming into the system with a large number of concurrent queries. This application addresses the unique needs of financial services providers by significantly speeding up the process of capturing, analyzing and storing data. With SingleStore, Morgan Stanley has been able to manage Big Data workloads, accelerate development and reduce total cost of ownership by scaling on commodity hardware.
"This award is a unique honor, designed for companies with leading edge technologies. I was pleased to nominate SingleStore," said Merritt Lutz , senior advisor, Morgan Stanley and member of the Computerworld Honors Foundation Chairmen's Committee, who nominated SingleStore for inclusion in the 2013 Emerging Technology category.
As financial services organizations innovate and look for solutions to process Big Data, SingleStore's combination of in-memory computing and a SQL interface for relational and distributed computing will continue to create significant business benefits.
"Technology continues to play a pivotal role in transforming how business and society functions. For the past 25 years the Computerworld Honors Program has had the privilege of celebrating innovative IT achievements," said John Amato , vice president & publisher, Computerworld. "Computerworld is honored to recognize the outstanding accomplishments of the 2013 class of Laureates and to share their work. These projects demonstrate how IT can advance organizations' ability to compete, innovate, communicate and prosper."
This year's Laureates were chosen by a panel of 22 distinguished judges -- many of them Computerworld Premier 100 IT Leader Honorees from diverse industries -- to evaluate the humanitarian benefits and measurable results of applying technology to meet a specific social or business need. SingleStore was selected from more than 700 nominations to become one of 268 Laureates from 29 countries.
The Computerworld Honors Program awards will be presented at the Gala Evening and Awards Ceremony on June 3, 2013 at the Andrew W. Mellon Auditorium in Washington, D.C.
Founded by International Data Group (IDG) in 1988, The Computerworld Honors Program is governed by the not-for-profit Computerworld Information Technology Awards Foundation. Computerworld Honors is the longest running global program to honor individuals and organizations that use information technology to promote positive social, economic and educational change. Additional information about the program and a Global Archive of past Laureate case studies, as well as oral histories of Leadership Award recipients can be found at the Computerworld Honors website.
SingleStore is the leader in real-time Big Data analytics, empowering organizations to make data-driven decisions, better engage customers, and gain competitive advantage. The in-memory distributed database at the heart of SingleStore's real-time analytics platform is proven in production environments across hundreds of nodes in the most high-velocity Big Data environments in the world. Based in San Francisco, SingleStore is a Y Combinator company funded by prominent venture capitalists and angel investors, including First Round Capital and New Enterprise Associates. For more information, please visit www.singlestore.com.
Computerworld is the leading source of technology news and information for IT influencers, providing peer perspective, IT leadership and business results. Computerworld's award-winning website (https://www.computerworld.com/), bi-weekly publication, focused conference series, custom solutions and custom research forms the hub of the world's largest (40+ edition) global IT media network and provides opportunities for IT solutions providers to engage this audience. Computerworld leads the industry with an online audience of over 3.5 million unique, monthly visitors (Omniture, August 2012) and was recognized as the Best Website by ASBPE and TABPI in 2012. Computerworld is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world's leading media, events and research company. Company information is available at https://www.idg.com.