March 2019 Summaries

In the realm of machine learning (ML) and artificial intelligence (AI), businesses face significant challenges in upgrading their data infrastructure to support predictive analytics, ML, and AI. However, SingleStore offers a solution by modernizing data infrastructure, simplifying query performance against big data, and adding scalability and convergence to operationalize AI. The platform addresses key challenges such as data exploration, algorithm selection, feature engineering, model building, and deployment, providing a comprehensive support for the entire ML/AI lifecycle.

Apache Kafka is becoming increasingly popular due to its ability to support exactly-once semantics, which ensures that data is processed only once and avoids losing data in transit. However, because Kafka is a messaging bus, it can't keep the exact-once promise on its own; other components in the data stream must cooperate. SingleStore, a fast, scalable relational database software with SQL support, works in conjunction with Kafka to guarantee exactly-once semantics within a data stream. The availability of exactly-once semantics in Kafka gives an opportunity for other participants in the processing of streaming data, such as database makers, to support that capability in their software. SingleStore's Pipelines feature hotwires the data transfer process, replacing traditional ETL processes and supporting exactly-once semantics on database operations. Pipelines are fast and flexible, allowing developers to write custom code using stored procedures, which can both query and insert into SingleStore tables, extending transformation capabilities. With its free community support version available for up to a fairly powerful cluster, users can develop, experiment, test, and deploy SingleStore with Kafka and Pipelines for themselves.

In this webinar, SingleStore Product Marketing Manager Mike Boyarski discusses trends in data initiatives for banks and other financial services companies, highlighting the importance of digital transformation in improving customer experiences, risk management, cloud computing, and AI/ML capabilities. Financial services companies are prioritizing digital transformation to wring business value from new initiatives, with a focus on premium customer experiences, smart risk management, cloud computing, and AI/ML adoption. SingleStore helps meet these requirements by providing a single-node database augmentation solution, Hadoop acceleration, path to cloud, real-time AI/ML capabilities, and support for both row-oriented and column-oriented tables, enabling banks to innovate while keeping the door open between cloud and on-premises use.

The text highlights the importance of risk management in finance and the need for a database that can support fast, up-to-date, streaming-ready, high concurrency, flexible, scalable, SQL-enabled, and cost-effective solutions. SingleStore is introduced as a modern "NewSQL" database that can meet these requirements, offering fast ingest via Pipeline features, transactional capabilities, and query performance. The text describes the challenges of using legacy relational databases like Oracle and how a company implemented an architecture based on SingleStore, Apache Kafka, and Hadoop/HDFS to improve risk management and analytics capabilities. The benefits of this updated data platform include reduced licensing costs, lower TCO, fresher data, faster analytics results, and more business opportunities.

SingleStore powers wealth management dashboards by providing a scalable and fast database that supports high concurrency, SQL-based analytics, and real-time decisioning. The platform is designed to handle large volumes of data from various sources, including Kafka messaging queues, and can process data streams in real-time. SingleStore's Pipelines feature allows for easy ingestion of data feeds from multiple sources, making it an ideal solution for wealth management dashboards that require fast and reliable performance. By combining Kafka pipelines with SingleStore, financial institutions can provide a highly interactive and responsive dashboard experience for their clients, while also reducing operational burdens and costs.