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Teradata: The future of Data


15 November 2021

Teradata is a provider of database and analytics-related software, created for a hybrid multi-cloud reality to offer solutions to the most complex data challenges at scale. The technology can be used to centralise a company’s data on a connected ecosystem, so it can be used anywhere. Teradata’s enterprise-grade scalability allows businesses to scale all dimensions simultaneously so massive data workloads can be used efficiently.

When was it created?

Teradata Corporation was formed in 1979 in Brentwood, California, after discussions between researchers at the California Institute of Technology (Caltech) and Citibank advanced technology group during the period between 1976 and 1979. The concept was born in winter and spring of 1979: a revolutionary database management system for parallel processing with multiple microprocessors for decision support.

In 1979, the name Teradata was chosen for the ability to manage terabytes of data and the company was incorporated on July 13, 1979 in a Brentwood CA garage. From then up until 1980, after efforts to gather funds, the company started with $150,000 in March 1980, allowing design and patent work to begin. The first VC round, for $2.5 million, was completed in July 1980, which allowed Teradata to hire the R&D team. By 1983, the first beta system was shipped to Wells Fargo Bank.

The 80s and 90s

In 1986, Teradata was awarded “Product of the Year” by Fortune magazine, and the next year it went on to have its Initial Public Offering. An important step this decade was marked by its partnership with NCR Corporation to build database computers. It was later acquired by NCR in 1991 and by 1992, Wal-Mart was the first client to receive their first 1 terabyte (a trillion bytes) system. In the late 1990s, the creation of a 24 terabyte database made it the largest database in the world, but the record would soon be broken in 1999 with Teradata’s 130 terabytes (130 trillion bytes) of user data.

2000s

The Royal Bank of Canada was the first bank to acquire Teradata’s Value Analyzer (VA) which could provide detailed customer profitability measurement. The same year, after it has acquired Stirling Douglas Group of Canada, Teradata also acquired the analytical Demand Chain Management (DCM) software. Another product was the Financial Management (FM) solution, which included software, support services and hardware. an analytic architecture consisting of hardware, software, professional consulting, and support services.

In 2003, at least 120 companies migrated from Oracle to Teradata while the same year saw the creation of the Teradata University Network to help boost awareness of data warehousing in the academic world with almost 170 universities from around the world taking part. In 2007, more than 850 universities were represented in the university network.

Teradata Warehouse 8.2 allows customers to deliver fast intelligence, event monitoring, enterprise integration, system management and support of short operational and long strategic workloads. In 2007, NCR announced Teradata would become a public company led by Michael F. Koehler. The new company’s shares started trading on the New York Stock Exchange (NYSE) under the symbol TDC on Monday, October 1, 2007.

The same year, Teradata launched Teradata 12, a state-of-the-art database which could deliver traditional data warehousing for strategic planning. It also announced a partnership with SAS for technical integration of both companies’ products and services. They would later announce 2 packages that would allow companies to access super-fast in-database analytics. In 2008, the company pushes innovation further by creating a prototype for the use of solid-state disk (SSD) drives in a data warehouse environment. The purpose of this was to boost performance and limit power consumption.

2010s

Teradata’s acquisition of cloud-based marketing software Aprimo will mark a milestone as it will support the execution of the company’s applications business. In 2012, the company released Teradata Database 14 to help businesses transform their technology with business intelligence strategies. The database included more than 80 new features and 60 built-in analytic functions.

The same year, it launched the Teradata Active Enterprise Data Warehouse Platform 6690 with hybrid storage and advanced use of solid-state drives (SSD) and hard disk drives (HDD). For business analysts, Teradata’s cost-effective access to Apache™ Hadoop for quicker strategic business decisions was another important milestone.

More recently, in 2019, Victor Lund became Interim President and Chief Executive Officer. A partnership with Google Cloud and the introduction of its Vantage Customer Experience and Vantage Analyst followed. Its innovative services and technology have made Teradata a ground-breaking technology company with 40 years in the business. Its products are used by recognised leaders such as Oxford University’s Said Business School for marketing research. In 2019’s Gartner Critical Capabilities for Data Management Solutions for Analytics Report Teradata topped every list.

2020

The Information Difference’s Q4 Big Data Warehouse Landscape Report distinguished Teradata for its leadership and customer satisfaction. In “The Forrester Wave™: Data Management for Analytics, Q1 2020” Teradata was the first in the category for Current Offering, a recognition that the company remains a leader in its field.

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