Company Overview: Data Dynamics
Intelligent file management enables enterprises to move, manage, and analyze data seamlessly across hybrid infrastructures.
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I had the opportunity to learn about Data Dynamics today as the third company on IT Press Tour #31. Piyush Mehta, CEO provided an overview of the market in which it is estimated that increasing the usability of data in the average Fortune 1000 company by 10% would boost annual revenue by more than $2 billion.
According to Piyush, Data Dynamics helps companies:
- Know what data they have and where it resides.
- Transform the data by enabling data management.
- Unlock the value of the data by identifying opportunities with effective data governance.
- Gain a competitive advantage by uncovering insights for informed business decisions.
With StorageX 8.1, customers get:
- Optimized file scan and analytics powered by ElasticSearch.
- The ability to perform query searches to create custom datasets.
- Support of Microsoft Azure Blob.
- Integration for third-party monitoring tools.
- Data grooming for Cassandra.
- New API functions for business workflow integrations.
Data Dynamics is already in 26 of the Fortune 100 and 6 of the world’s 12 largest banks. A bank in Switzerland is now saving $21 million per year as the result of 10X greater productivity with environment optimization. The total cost of storing data in legacy systems, on-prem is $.30/GB per month and falls to $.02/GB per month in the cloud.
The greatest benefits of StorageX seem to be around compliance and risk mitigation.
- Understand your data.
- Effective access and placement of data.
- Categorization of data for quicker searches and retrieval.
- Transparency of data to the owners.
- Able to store data in a secure and accessible manner.
- Enable data management in a hybrid cloud.
I expected compliance and risk mitigation to be a key driver for financial services, but Piyush said he’s seeing demand across clients in oil and gas and media as they move data to the cloud and store it there.
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