Netezza data warehouse appliance helps Compucredit grow its business
Boston, Mass., Netezza User Conference, September 18, 2006 — Netezza the global data warehouse appliance leader, today announced that CompuCredit Corporation (NASDAQ:CCRT), a specialty finance company and marketer of branded credit cards and related financial services, has selected the Netezza data warehouse appliance to better manage rapid business growth. The Company chose the Netezza Performance Server® (NPS®) data warehouse appliance over traditional data warehouse systems due to the appliance’s speed, scalability and lower cost of ownership.
CompuCredit Corporation is a specialty finance company that provides financial services to consumers who are underserved by traditional financial institutions. The Company relies on sophisticated computer models, proprietary databases and targeted marketing strategies to evaluate credit risk more effectively than traditional providers of consumer credit and offers credit lines and pricing tailored to individual customers. The Oracle data warehouse system CompuCredit had in place to support its computer models and databases was unable to keep pace with the growing demands of the business, resulting in slow query speeds and response times that became unacceptable to business users.
“The NPS system’s ability to analyze terabytes of data gives us the technology power and speed we need to support the present and future needs of our business,” said Guido Sacchi, Chief Information Officer and SVP, Corporate Strategies, CompuCredit. “By overcoming existing warehouse limitations, we are able to serve our current customers better, while also taking a more proactive approach to meeting and exceeding our growing data needs.”
“We are very pleased that companies like CompuCredit continue to turn to Netezza to power time-sensitive, business-critical analyses,” said Jit Saxena, CEO and co-founder of Netezza. “The Netezza data warehouse appliance was specifically designed to process huge amounts of data at incredibly fast speeds so companies can understand the past and present in order to accurately predict the future.”
The Netezza Performance Server system is the market-leading data warehouse appliance built specifically to analyze terabytes of detailed data 10 to 100 times faster than existing data warehouse options, at half the cost. The NPS system stores, filters and processes terabytes of records within a single unit, analyzing only the relevant information for each query. Netezza has placed the CPU power next to the data, allowing the NPS system to speed through processes that would occupy most data warehouse systems for hours, or even days, thereby enabling dramatic increases in productivity across the organization.
Customers who have recognized the benefits of Netezza’s approach include Ahold, Amazon.com, Cingular Wireless, CNET Networks, Debenhams, Epsilon, Orange UK, Premier, Inc., Ryder System, Inc., Shoppers Drug Mart Corporation, The Carphone Warehouse and The TJX Companies.
About CompuCredit Corporation
CompuCredit Corporation is a specialty finance company and marketer of branded credit cards and related financial services. CompuCredit provides these services to consumers who are underserved by traditional financial institutions. Through corporate and affinity contributions focused on the underserved and un-banked communities, CompuCredit also uses its financial resources and volunteer efforts to address the numerous challenges affecting its customers. For more information about CompuCredit, visit http://www.CompuCredit.com.
About Netezza Corporation
Netezza, the global data warehouse appliance market leader, enables enterprises to make all of their data actionable – quickly, simply and affordably. The Netezza Performance Server family of products delivers breakthrough performance, unmatched ease of deployment and operation, and innovative flexibility and scalability at a fraction of the cost of traditional data warehouse solutions. By architecturally integrating database, server and storage within a single appliance, the NPS system delivers 10 to 100 times the performance at half the cost of existing systems. Based in Framingham, Mass., Netezza has offices in Washington, DC, the United Kingdom and Asia Pacific. The Company is backed by leading venture capital firms, including Matrix Partners, Charles River Ventures, Battery Ventures, Orange, Sequoia Capital and Meritech Capital Partners. For more information about Netezza, please visit www.netezza.com.
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