Timeplus, the inventor of one of the industry’s fastest and most powerful streaming analytics platforms, announced today that its main engine, Proton, has been made open source for developers all over the world. With its historical online analytical processing (OLAP) employing ClickHouse, Timeplus has created an innovative, unified streaming + historical analytics platform. This means that organisations may now develop ad hoc reports across very big datasets in real time, using both historical and live streaming data. And they can do it faster and at a lower cost than existing streaming frameworks.
“Timeplus is a company built by engineers for engineers,” stated Ting Wang, Timeplus’ co-founder and CEO. “While developers have been blown away by our product’s simplicity and elegance, many have asked us to go open source.” We listened and are thrilled to open source our software and donate technology to ClickHouse that will help developers worldwide. An incredible mix of best-in-class real-time OLAP analytics and robust, lightweight stream processing will benefit users.”
Stream processing is insufficient for analytics use cases. To solve root-cause problems in real time, it is necessary to be able to resort to historical data. Developers may now natively and seamlessly combine historical data and analytics capabilities to handle difficult real-time analytics use cases such as online and offline correlation, backfill, and back-testing by leveraging Timeplus and ClickHouse code. Users may quickly execute unified analytics to address difficult analytic challenges in a variety of use cases, such as financial services and IoT. And users may do it faster and cheaper than before. In production, Timeplus customers’ total cost of ownership was 10% that of rival streaming/real-time frameworks, all with a single streaming SQL.
Designed to tackle industry difficulties where real-time data may make a difference
Timeplus is tackling an enormous technological challenge: building an elegant, user-friendly unified streaming and historical analytics platform in a single binary. The innovative combination of best-in-class real-time OLAP analytics (ClickHouse) with powerful, lightweight streaming processing and incremental analytics capabilities (Timeplus) will revolutionise the way data engineers and analysts operate. The Timeplus platform is used by over 250 Timeplus beta customers.
Many industries, like as capital markets, require novel ways to continuous intelligence. Real-time processing has always been vital in a changing economy, from optimising costs to facilitate trading with less infrastructure to identifying fraud. Developers were frequently faced with a trilemma of speed, power, and openness: they could only choose two. Timeplus has merged the capabilities of unified historical and streaming queries with a low-latency engine – all via the open SQL standard. Developers from across the industry can use Timeplus to contribute to a unique platform for data analytics in the age of real-time streaming by open-sourcing the core. The Timeplus streaming-SQL and real-time analytic capabilities enable developers all over the world to play a role in revolutionising how businesses of all sizes gain a competitive advantage.
“In today’s rapidly changing markets, businesses must go real-time or become obsolete,” said Ms. Ling Wang, head of Huatai Securities’ information technology department, a Global Fortune 1000 company. “Timeplus fills a significant market void.” It combines usability, SQL support for streaming, and speed. It simplifies the extraction of insights from streaming data, saving us thousands of lines of code and hundreds of hours of development time. The ability to monitor and analyse enormous amounts of real-time investment data results in improved risk management and cost analysis.”
Timeplus will be available in March 2022. To date, the company has received $9 million in funding from Hillhouse Capital and angel investors such as Jeremy Kranz, founder of Sentinel Capital; Rory Sexton, former SVP of Supply Chain at Apple; and Richard Tibbetts, founder of StreamBase and a streaming industry pioneer.
