Based out of Russia, the VTB Bank and Rostelecom (a digital services provider) have united to form a new company as a joint venture called Big Data Platform. With this new venture, the companies aim to focus better on development and earn revenue from products established through big data processing, inclusive of machine learning and AI technologies.
The joint venture is set be equally managed by both entities. They also plan to hire board of directors to take responsibility and work for its strategy development.
Deputy President and Chairman of VTB Bank management board, Vadim Kulik, mentioned:
- A core team is being created to take control along with building the strategic roadmap for the platform’s products and services
- We have merged our efforts with Rostelecom and are focusing on producing market solutions for a variety of business segments
- Additional details about the specific products and services by the joint venture will be announced at a later date
- Our plans are to significantly expand the range of Big Data products on offer in the Russian market by combining cutting edge technology and expertise
As per both entities, the new venture is expected to be engineered on an open platform and can be accessed via API. Additionally, it will permit users to access products and services for specific needs and behaviors.
The joint venture has plans to launch the pilot versions before the end of 2020.
Big data and analytics applications along with unstructured data now will be powered with advanced and brand new features with the extended Nutanix platform.
On March 30, 2020, the company announced about its extended platform.
Additionally, features associated with Nutanix Object 2.0 are engineered to handle object data across several Nutanix clusters to gain massive scale and better object storage capacity per node and formal Splunk SmartStore certification.
These developments strengthen the already optimized cloud platform for big data applications and add to deliver performance at an unbelievable scale. Simultaneously, the Nutanix platform implements the potential of existing unused resources and lowers cost.
Amita Potnis, Research Director at IDC’s Storage team mentions, “Digital transformation requires web-scale storage for enterprise workloads. Object storage is rapidly becoming the storage of choice for next-gen and big data applications. As object storage makes the leap from the cloud to the data center and mission-critical workloads, economics must be balanced with performance.” She adds, “Nutanix is known for flexibility and simplicity. Multi-cluster support and certification with Splunk SmartStore with Nutanix Objects will allow for massive scale at the right price and performance that these workloads require.”
Greg Smith, VP, Product Marketing at Nutanix, said that every company in the market is in the race to transform into a data-driven company.
Greg also mentioned that big data application demands an outstanding scale and performance at best price structures and the Nutanix platform along with multi-cluster object storage makes available a captivating solution for unstructured object storage that deploys existing storage resources for improved storage economics.
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