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KX a worldwide leader in real-time streaming analytics, today announced that it has partnered with Databricks, the data and AI company, to drive business value by unifying all data, analytics and artificial intelligence (AI) to accelerate the growth of ultra-real-time analytics in new market sectors.
The partnership combines the power of Databricks’ Lakehouse Platform with KX’s low latency streaming analytics, time-series and edge compute capabilities to jointly address market demand for real-time actionable insights, driven by the explosion of sensors and the accelerated digital transformation of all industry sectors.
As a result of the partnership, enterprises in sectors such as manufacturing, automotive, telecommunications and energy and utilities will have the ability to make ‘in the moment’ decisions for the automation and optimization of critical processes including the detection and automated correction of faults and the ability to run what-if analytics and machine learning-based models for sub-second decision-making.
For firms in the financial services sector, where the transformative power of ultra-real-time analytics is well understood, it will deliver additional value in areas such as automated decision making on pricing and trading, real-time market surveillance, live exchange performance modelling and market impact and trade execution analytics.
“Databricks is a leader in the field of data science, and the integration with KX helps marry data science with actionable continuous intelligence to reduce time-to-insight and time-to-value,” says Gerry Buggy, Chief Strategy Officer at KX. “This partnership will provide even greater value to our existing financial services customers while bringing our world class streaming analytics technology to new industry sectors.”
The KX Streaming Analytics platform – built on kdb+ the world’s fastest time series database – empowers organizations to implement a process of continuous actionable intelligence where built-in machine learning and complex event processing allow quick decision-making and proactive automated actions to be executed at sub-second speeds.
Databricks’ Lakehouse Platform helps organizations accelerate innovation by unifying data teams with an open, scalable platform for all of their data-driven use cases. From streaming analytics and AI to business intelligence (BI), Databricks provides a modern lakehouse architecture that unifies data engineering, data science, machine learning and analytics within a single collaborative platform.
“Databricks provides the data foundation to store and manage all data, analytics and AI in one common lakehouse platform,” said Pankaj Duggar, Vice President of Product Partnerships at Databricks. “The partnership with KX helps customers bring real-time streaming data to Databricks for faster time to value on streaming analytics use cases.”
Discussions are already underway with customers quick to see the value of the solution. KX will deliver a keynote and participate in a financial services panel discussion at Databricks’ Data + AI Summit 2021 on May 27th.
KX, a leader in real-time streaming data analytics, is a part of First Derivatives, a global technology provider with 20 years of experience working with some of the world’s largest finance, technology, automotive, manufacturing and energy institutions. KX Streaming Analytics, built on the kdb+ time-series database, is an industry leading high-performance, in-memory computing, streaming analytics and operational intelligence platform. It delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 15 offices across Europe, North America and Asia Pacific and employs more than 2,400 people worldwide.