Monthly Archives: July 2019

Technology

Revolut achieves true data democratisation with Exasol

Digital banking alternative Revolut, one of the most data-driven companies in the world, has achieved true democratisation of data with the help of Exasol, the analytics database. Despite data volumes increasing 20-fold over the past twelve months, queries that used to take hours are now completed in seconds, enabling self-serve data analytics for all employees across business functions.

“We are an extremely data-driven company,” said Demeter Sztanko, Head of Data Engineering at Revolut. “We maintain around 800 dashboards and run around 100,000 SQL queries on a daily basis across the organisation. When we looked at cloud vendors, it quickly became apparent that running the analytics we wanted to could become prohibitive but not with Exasol. In addition, we also love the flexibility that Exasol offers because they do not lock us in to any single environment and this is very important for us.”

Revolut is the fastest growing fintech in the world and handles every aspect of money management. It achieved unicorn status in 2018 and now has more than six million customers globally. Revolut runs a multi-node Exasol cluster on Google Cloud Platform. Exasol offers unparalleled flexibility, with on-premises, cloud or hybrid and multi-cloud deployment options, which means there is no vendor lock-in for their customers. This allows Revolut to expand to countries where Google Cloud Platform is not available.

“We wanted to ensure everyone has access to the data they need for their daily work in a simple and efficient manner, and Exasol has helped us achieve that. Working with Exasol is very personal for me because I know the team is always ready to help. I have visited their headquarters and I have met everyone on the tech team personally,” added Sztanko.

Revolut’s data science and engineering team has ambitious plans for the future, which include working together with Exasol to make full use of Exasol’s capabilities to apply machine learning tools to its processes and empower Revolut employees with the data analysis capabilities they need.

The post Revolut achieves true data democratisation with Exasol appeared first on UK Tech News.

Industry News, Technology

Trax Acquires Leading European Provider of Image Recognition for Retail Execution Planorama

Trax, a leading global provider of computer vision and analytics solutions for retail, has announced its acquisition of Planorama, Europe’s top supplier of image recognition services for retail execution and merchandising for Consumer Packaged Goods (CPG) companies. The acquisition will build upon the significant depth and breadth of foundation already in place to serve CPG customers globally, by expanding customer reach and making available a comprehensive set of in-store execution tools to the market.

CPG brands and retailers rely on Trax’s in-store execution solutions, market measurement and analytics services, which are powered by proprietary fine-grained image recognition, machine learning and IOT platforms – to turn photos of retail shelves into granular, actionable shelf and store-level insights.

Planorama leverages deep learning-based image recognition to offer a full range of CPG-centric solutions to build merchandising recommendations, monitor POS compliance, or learn from shelf insights to continuously improve the perfect store journey.

This latest announcement from Trax follows a series of 2019 acquisitions. Planorama is the latest company to join the Trax family, following China’s AI and big data service provider, LenzTech, and U.S. based shopping rewards app, Shopkick.

“This is an important moment for Trax as we continue to expand our reach and strengthen our capabilities available to current and prospective customers. By combining our innovative cultures, we see an incredible opportunity to leverage the best of both companies’ leading technologies, product offerings, delivery expertise and talent. I am confident that we will deliver exceptional outcomes for CPG brands and retailers worldwide,” said Joel Bar-El, CEO and co-founder of Trax.

“We are delighted to join Trax as we share the same passion to bring the best of breed technology and capabilities to retail. Together we will be able to better serve our customers and partners and provide our people with exciting opportunities to grow,” said Ayoub Khammari, CEO, Planorama.

“Over the years, Trax has redefined the retail industry with its purpose-built solutions and services and CPG expertise,” said Dror Feldheim, chief commercial officer and co-founder, Trax. “Joining forces with Planorama, we will deliver a holistic, closed-loop approach to solving the most pervasive and systemic issues facing retail today.”

The post Trax Acquires Leading European Provider of Image Recognition for Retail Execution Planorama appeared first on UK Tech News.