Ever wanted to speed up your business intelligence from Snowflake? Indexima claims it can help.
The French company was founded in 2015 to manage data on Mappy, the French-owned alternative to Google Maps. It later moved on to handle and interrogate big data stored on Hadoop and other databases in 2018. That was after raising €1.3 million in seed funding and launching Indexima 1.0.
By 2020, Indexima had 15 customers and was generating annual recurring revenue of €1.2 million. While still supporting Hadoop, the firm is now focusing on the potentially more lucrative market of Snowflake. To do this, it launched Indexima 2.0 this year, and is now setting its sights on supporting Databricks in the future too.
Indexima claims its algorithm can generate business intelligence from Snowflake, enabling quick decision-making from Snowflake using its own algorithm to create an “aggregation layer,” supported by a business intelligence AI assistant.
Nicolas Korchia, CEO and founder, says: “Indexima is a unique data software that leverages ML and AI to solve the performance, cost, and agility dilemma of analytics.”
Indexima uses a columnar data storage format, organizing data by columns instead of rows, which is effective for analytical queries that tend to access only a subset of columns in a dataset. A columnar format enables good data compression and faster scanning. It automatically builds and manages indexes as data is ingested. The indexes are created based on the data type (e.g., categorical, numerical, or textual) and the types of queries being executed. Query response times are significantly reduced, often providing results in milliseconds.
Indexima is built for distributed environments, supporting parallel processing across nodes. Indexes are distributed across the cluster, allowing for scalable querying of large datasets.
How does it apply this to Snowflake? Indexima first sets itself up as a proxy to Snowflake. After a few minutes, it automatically creates a set of “dynamic tables” displaying the key information to the business user from a query. It accelerates user queries by re-routing them to these aggregated Dynamic Tables.
Indexima’s performance depends on the size of the datasets queried and the frequency of its use as it learns from the types of queries being made and the types of information contained in the datasets.
At the IT Press Tour in Valletta, Malta, last week, Korchia said: “The performance of using Indexima can be 100 times faster, and it can be cheaper to use Snowflake as a result, and there are no development costs.”
The company must be doing something right as Korchia says Snowflake is a “strategy partner” involved as a “leads generation accelerator” and a “deal influencer” in its marketplace.
As for technology partners, Korchia says the list includes MicroStrategy, Tableau, Looker, Power BI, Microsoft Azure, AWS, and Cloudera.
The cost of using the technology is based on the number of queries and the number of dynamic tables loaded per month. There are free, regular, business, and enterprise versions of the product. Read more background info in Indexima’s blogs.
