In a recent episode of our AnalystANGLE series, I had a conversation with Kirk Dunn, the newly appointed CEO of Event Store, and the opportunity to delve into the company’s latest developments and its vision for the future of data platforms. Event Store, pioneering the event-native data platform space, has made significant strides with new leadership appointments and expansions to its cloud offerings.
Event Store Expands Cloud Offerings … watch the full video interview here:
New Leadership to Drive Growth
In exciting news, Event Store has reunited industry veterans Kirk Dunn and David Wang. Dunn, joining the company as CEO, brings extensive operational experience, including a successful tenure as COO at Cloudera. Wang joins as VP of Engineering, bringing over two decades of expertise in distributed systems, storage, and data streaming from companies like Redpanda, Rubrik, and Cloudera.
“Data platforms are where enterprise value is created,” Dunn explained during our conversation. “As someone who’s been working at and investing in data platform companies for the better part of two decades, I was drawn to the opportunity to lead Event Store through its rapid growth phase.”
Expanding Cloud Offerings
Alongside the leadership changes, the company announced significant enhancements to Event Store Cloud, as well as a new integration with AWS Marketplace.
For Event Store Cloud, the new enhancements are centered on improving ease of use and shortening time to value. Dunn shared that with automated provisioning customers can stand up instances of Event Store Cloud in minutes. Equally attractive is customers’ ability to control spend by dynamically resizing clusters to meet their unique needs. This fully managed service allows for the streamlining of the tech stack while also affording optimal efficiency.
Event Store’s event-native technology converges databases and streaming, providing the best of both worlds for today’s high-stakes use cases and workloads. It combines the power of an operational database with real-time event processing in a single platform that make it simple to build and enhance modern applications that enable real-time business processes. These capabilities make Event Store Cloud ideal for industries such as finance, healthcare, and e-commerce, where real-time data processing and analysis are important. For example, financial institutions use the platform to build real-time fraud detection systems, while e-commerce companies create personalized recommendation engines that update in real-time. Companies use Event Store Cloud to run EventStoreDB in production, allowing them to rapidly innovate while reducing the overhead of managing the underlying infrastructure.
Some of the new Event Store Cloud features include:
- Self-service capabilities designed for easier operations, including the ability for vertical cluster resizing
- Credit card signup and automated provisioning across major cloud platforms, which means provisioning time is rapidly reduced — from days to minutes
- Event Store Cloud features enhanced security features like multi-factor authentication as well as a detailed audit log, which are sure to make CISOs happy
- Newly-announced availability on AWS Marketplace
- Event Store Cloud also shared that improved networking configuration with access to public internet and AWS private links will be coming soon.
Event Store Cloud Available on AWS Marketplace
The recent integration of Event Store Cloud with AWS Marketplace announced last week is particularly noteworthy and should be very attractive to the developer community, as it eliminates the need for infrastructure management concerns and allows them to focus on what they do best. The Event Store Cloud AWS integration is particularly valuable for scenarios requiring real-time event streaming, processing, and storage and enhances the utility of existing AWS investments while simplifying access to Event Store’s services.
Availability on AWS Marketplace brings several benefits to Event Store customers, including:
Simplified procurement. The ability to leverage existing AWS credits and pre-negotiated contracts for Event Store Cloud usage and support commitments.
Consolidated billing. The ability to streamline financial operations with a single bill for AWS and Event Store services while benefiting from simplified procurement through consolidated billing, custom pricing and terms, and streamlined deployment and management capabilities.
Enhanced scalability. Customers can easily scale Event Store Cloud resources in tandem with other AWS services and third-party offerings, taking advantage of the AWS cloud platform’s centralized management of software subscriptions to build and run their businesses more efficiently.
Improved performance. Customers can utilize AWS’s global infrastructure for low-latency access to Event Store Cloud.
Event Store’s Event-Native Approach
What sets Event Store apart is its event-native approach to data management and its embrace of a modern data platform way of thinking, which we talk about often here.
Unlike traditional databases that often overwrite data, the platform logs every single event in sequence, creating a comprehensive history of the data. It’s these “events” — the when, how, and the why that these events can deliver on, that will allow an organization to more effectively and efficiently analyze its data and make data-driven decisions quickly.
This approach is particularly crucial in the age of AI and real-time decision-making. The data that feeds enterprise applications, AI systems, LLMs, and analytics models originate in an operational database somewhere. Event Store is designed to be a massively more efficient and comprehensive way to feed business-critical data from origination to downstream use cases.
Market Opportunity and Industry Impact
Event Store Cloud’s fully managed service allows the streamlining of enterprise tech stacks, ensuring optimal efficiency and zero downtime. There’s nothing not to like about that. Moreover, the timing for Event Store’s expansion couldn’t be better. Gartner predicts that spending on operational database systems will clear $100 billion at a compound growth rate of 16.8% from 2022-2027, potentially reaching a $203.6 billion total addressable market in this five-year period.
With regard to the stream processing market, IDC predicts a growth rate of 21.5% from 2022 to 2028, and Fortune Business Insights expects the global data analytics market size to grow from $51.55 billion in 2023 to $279.31 billion by 2023. It’s not at all difficult to see why Dunn was enticed to step back into the fray and lead Event Store through this next stage of growth.
Looking Ahead
As our conversation wrapped up, I asked Dunn for one piece of advice for businesses grappling with data management challenges. His response emphasized the need for a holistic approach:
“Look at that workflow as a business would look at it. A business would say, ‘I’m originating data here. I’m moving it to other applications for other uses, like inventory control, customer service. And then I’m analyzing it so that I can think about how I run that business better.’ So it is not just an operational database, it’s not just a streaming platform, it is not just an analytic thing. We need to look at this thing holistically and see how they all play together. And again, the key element is play together with time being the precious resource.”
With its event-native approach, expanded cloud offerings, and new leadership, Event Store is well-positioned to help businesses navigate the complexities of modern data management. As the demand for real-time data processing and analysis continues to grow across industries, Event Store’s innovations will undoubtedly play a crucial role in shaping the future of data platforms; I’m looking forward to watching Event Store gain traction in the coming months.
Image credit: Pexels, Tom Fisk
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