Oracle CEO introduces new in-memory database

Oracle has launched an in-memory database in an attempt to give its customers a wider range of different options when it comes to storage.

Forbes report the product is 100 times faster than traditional databases and it was launched by CEO Larry Ellison at the company’s OpenWorld conference in San Francisco.

Oracle’s in-memory is noticeably quicker as it’s stored on memory chips as opposed to discs and claims to allow retailers to scan through sales patterns quickly and easily as well as make changes on the fly.

SAP, one of Oracle’s main rivals in the memory space, has already released its own in-memory database called HANA, and stated that Oracle is “missing the mark” as SAP’s own in-memory database has been out for some time.

“SAP HANA has been delivering real-time performance to our customers in real-world environments for years,” a company spokesman told the Wall Street Journal.

In addition to the new database, Oracle debuted a new data machine and database backup product with the two complementing the new in-memory database.

Analysis by Gartner showed heady predictions for the in-memory market as they estimate the market for in-memory data grid is likely to reach $1 billion by 2016 and may be the lynchpin to bring in-memory computing to the mainstream.

Ellison announced the new product as part of an opening address at OpenWorld, a conference that runs until 26 September in San Francisco. The CEO was happy to report that attendance has jumped by 20 per cent this year with around 60,000 people expected through the gates.

Oracle has suffered from the slumping server market more than most with revenue declining by 32.1 per cent, the most of the top five EMEA server providers and is a result of the fifth consecutive quarter of decline in the EMEA server market.

Image Credit: Twitter (Oracle Open World)