Back in the late 1970s, the researchers in the California Institute of Technology along with an advanced tech group of Citibank collaborated to establish Teradata. Teradata Corporation is a company in the data warehousing sector that offers database analytics software and services as its main products. The three main services provided by the company are business analytics, cloud products, and consulting. Teradata’s headquarters is based in San Diego, the US, and its market is expanded to America (North and Latin), Asia, Europe, the Middle East, and Africa. The idea behind Teradata was born more than forty years ago, so let’s have a look at how the company was built.
Founding History of Teradata Corporation
From 1976, the researchers of Caltech and an advanced group of Citibank were working together to develop an unparalleled database management system. The team finally made a breakthrough in 1979 when they made a database management system capable of parallel processing with multiprocessors for design support. The company was launched in July 1979 named Teradata as the system had the ability to manage terabytes of data. A group of seven people opened the office of the company for the first time in a garage at Brentwood, CA. After struggling for a year, Teradata gathered a fund of $150,000 which helped the company make progress.
Growth of Teradata Corporation
After one year of establishment, the company successfully raised $2.5 million and with this funding hired the R&D team. After three years of research and testing its products, the company offered its first beta system to Wells Fargo in 1983. The company was making an impressive amount of profit and it was named “Product of the Year” by Fortune magazine in 1986. Next year, the company filed an IPO and it is traded in the NYSE as TDC. In 1989, the company went into a joint venture with NCR Corporation to build powerful database computers. After a couple of years, AT&T acquired NCR which in turn acquired Teradata Corporation in the same year.
The company made a great achievement in 1992 when it offered a database system of over 1 terabyte at Wal-Mart. In 1997, NCR was spun off from AT&T and thus it became an independent company once again. This year Teradata received two prestigious awards, namely, The Data Warehouse Institute’s Best Practices Award and DBMS Readers’ Choice Award.
Beginning of a New Era
In 2000, Teradata built its first enterprise-class application called Value Analyzer. This software was built so that the customer can check thorough profitability measurement and the first customer who used this application was the Royal Bank of Canada. The same year, Teradata acquired Stirling Douglas Group of Canada and added Demand Chain Management software to the list of its enterprise applications. Next year, the company introduced another new solution called Financial Management which included both hardware and software services.
In 2002, Teradata launched Teradata Warehouse 7.0 which extended the company’s decision-making just beyond corporate management. In 2003, more than 120 companies switched from Oracle to Teradata as the company launched the Oracle-to-Teradata Migration Program. A huge network was built by the company which involved academic institutes as well. The next year witnessed Teradata’s partnership with SAP and also with Siebel Systems to build integrated and optimized products.
In 2005, the company brought the Linux operating system to its enterprise-class data and next year launched the Enterprise Master Data Management (MDM) solution. With every step Teradata took into the realms of the management system, it delivered products with better performance, easy enterprise integration, etc. In 2007, Teradata and NCR became two separate entities, and the former established a partnership with Agilent Technologies.
Present Day
In 2010, the company was named as one of the world’s most ethical companies by the Ethisphere Institute highlighting the quality of the company in doing ethical business. In 2011, the company acquired Aprimo and launched many new brands. The company has recently partnered with Google Cloud and also joined the NVIDIA partner program to take the company forward in terms of AI and Deep Learning as well.
The company is currently under the leadership of Steve McMillan (President and CEO of Teradata since 2020). He worked at F5 Networks before joining Teradata and also worked with Oracle and IBM.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more