How Cloudera Grew in 2018 and Why Its CEO Expects More in 2019
Updated · Apr 06, 2018
As enterprises of all sizes increasingly move to data-driven application architectures and insights, Cloudera is seeing its fortunes grow.
The big data vendor reported full-year fiscal 2018 financial results on April 3, with revenue coming in at $367.4 million for a 41 percent year-over-year gain.
“The next several phases of Cloudera’s growth have already begun to take shape. Enterprises of all sizes are just embarking on their digital transformation to enhance competitiveness in today’s increasingly connected world,” Tom Reilly, CEO of Cloudera, said during his company’s earnings call. “In this new world, our customers are benefiting from these machine learning and artificial intelligence to gain competitive advantage.”
Mike Olson, Cloudera co-founder and chief strategy officer, noted that digital transformation beings with re-architecting legacy platforms away from bulky technologies like traditional data warehouses.
“We are successfully disrupting the traditional data warehouse market,” Olson said. “For many years, data has been locked in silos making it impossible to build integrated analytics across all the organization’s data.”
Olson said that Cloudera’s enterprise customers are building data lakes instead of data warehouses, allowing them to process and analyze data securely. He noted that SQL access is critical to capturing data warehouse workloads, which is where the Cloudera-backed open-source Apache Impala for SQL project plays a key role.
Olson also highlighted Cloudera’s Altus platform as a service offering for big data analytics services.
“Altus delivers the speed, convenience, elasticity and ease-of-use expected in native public cloud services,” Olson said. “We continue to innovate in cloud and we expect to introduce new Altus offerings in the future.”
Use-Case: TD Bank
Among the many organizations that have embraced Cloudera’s platform is TD Bank. Reilly said that at TD Bank for example, over 25 corporate units use the Cloudera platform for a variety of functions, including product recommendations and sentiment analysis.
“Factoring five years of transaction data for 11 million customers in minutes, these initiatives have improved customer service, increased revenue and reduced risk, all the while lowering data management costs of the firm by 60 percent,” Reilly said. “In the simplest terms, our software empowers people to translate complex data of any type into clear and actual insights in order to grow their businesses.”
Looking forward, Reilly said that Cloudera recognizes that the market is at the cusp of a technological revolution disrupting multiple sectors and creating a large market opportunity.
“At this early stage in the market’s development, we are focused on extending our position as one of its biggest and most enduring players,” Reilly said. “You should expect us to be an exemplary data-driven business by continually refining our strategy based on data.”
Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.