The upgrade to Oracle Exadata Database Machine will help WealthEngine to:
Deliver new premium intelligence and analytical services on high net worth individuals;
Improve data loading processes dramatically with initial benchmarks showing performance gains of up to 240x for certain loads;
Enhance the overall system performance with initial benchmarks showing a speedup in ad-hoc query response times of 18-35x without any query tuning; and,
Support the continuing growth of data volumes and data sets -- WealthEngine’s database consists of more than 2.5 billion records from more than 35 unique data sources.
WealthEngine’s revenue grew 40 percent last year and is expected to grow 50 percent in 2011, resulting in a need for new technology to support this expansion.
WealthEngine conducted its Oracle Exadata Database Machine benchmarks at Oracle’s office in Reston, Va.
WealthEngine Plans to Run Next-Generation Release and Services on Oracle Exadata
Bethesda, Md.-based WealthEngine provides nonprofit organizations, financial services institutions and luxury goods providers with wealth research and screening services that take advantage of leading technologies and research techniques to analyze data from over 35 data sources.
The firm screens more than three million donor/prospect records per month against their data sources on behalf of its 2,400-plus client organizations.
WealthEngine’s systematic prospect research helps hospitals, colleges & universities, arts organizations, various national and regional charities and community organizations screen and segment their donors and prospects to identify their best major gift prospects.
WealthEngine also works with banks, private wealth managers, registered investment advisors and luxury goods and service providers to identify and cultivate high net worth individuals.
Its 2,400 customers and 6,000 users access WealthEngine through its Software-as-a-Service (SaaS) application as well as through integrations with specialized CRM systems or Donor Management Systems (DMS) via APIs.
The company’s current system relies on Oracle Database and Oracle Fusion Middleware running on Oracle Linux. WealthEngine plans to roll out a new release of its FindWealth application on Oracle Exadata Database Machine in two phases over the next six to nine months.
“By upgrading our FindWealth research service to Oracle Exadata Database Machine, we can offer new and enhanced services that will enable us to reach a broader market that is starving for better information,” said Tony Glowacki, CEO, WealthEngine. “Our innovative new tools and services will help drive greater efficiencies in fundraising by nonprofits and more effective marketing by financial services and luxury goods and services providers by enabling better decision-making through intelligence and analytics.”
“When testing Oracle Exadata Database Machine with our data in the lab, we tried to find what the limits of the system were,” said Silas Matteson, SVP of Products and IT, WealthEngine. “We issued queries that we would never think of doing—massive joins across different, large tables and we got results back in incredible response times. We saw first-hand the power of conducting non-index searches and what that could mean to our product and customers and how it could potentially transform our business.”
The Oracle Exadata Database Machine is the only database machine that provides extreme performance for both data warehousing and online transaction processing (OLTP) applications, making it the ideal platform for consolidating onto grids or private clouds. It is a complete package of servers, storage, networking, and software that is massively scalable, secure, and redundant. With Oracle Exadata Database Machine, customers can reduce IT costs through consolidation, manage more data on multiple compression tiers, improve performance of all applications, and make better business decisions in real time.
WealthEngine is a leading provider of sophisticated wealth identification and prospect research and analytics to financial services firms, hospitals, institutions of higher education and nonprofit organizations. More than 2000 clients use WealthEngine’s products for comprehensive prospect research on individuals, companies and foundations. Headquartered in Bethesda, MD, WealthEngine offers products in both the United States and the United Kingdom. For more information, visit www.wealthengine.com.
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