Teradata Corporation, a San Diego, California-based database and analytics-related products and services provider, made quite a buzz last year, in Oct. 2018, at an annual event in Las Vegas, where the San Diego group described the banks and corporates investing into analytics as a waste of money. Instead, the group said that its consolidated offerings could achieve relevant answers from data.
At the event, Teradata urged financial institutions to “stop buying analytics”. A self-contradictory statement as it might seem, given the group’s sole business offering for almost 40 years and ever since it parted ways from NCR Corporation in 2007.
However, in this quite a hysterical statement from the gathering’s point of view, what the San Diego-based Teradata actually meant was to “stop buying analytics – it’s time to invest in answers”. The just mentioned statement was pretty much obvious at the Teradata Universe EMEA conference 2019, held in Madrid, last week, where all together over 400 of the group’s customers from 36 countries all around the world gathered.
“Technology is coming together to help us lead better lives. It can now understand who we are at every single touch point, while at the same time respecting our privacy,” stated Oliver Ratzesberger, previously Teradata’s chief operating officer (COO) and its president and CEO since the start of this year.
“Data and analytics can be used to make our lives easier – for example even compiling our tax returns for us. But there is a danger that the capabilities are being hampered by increasing complexity.”
“There is so much technology that we are flooded with it, but as individuals and businesses. It poses a challenge for companies, with millions of pieces of technology and open source projects, creating ever-increasing numbers of data silos. This is helping to power a $200 billion analytics industry.”