The intersection between the world of modern data science architectures with the world of machines and sensors is still very small. When combined, these two worlds are capable of generating significant value addition. To successfully develop projects in these areas, a number of diverse competence profiles are required. A company which designs tailor-made solutions with a team of experienced people for the IoT and Data Science projects is Record Evolution.
Record Evolution is a young data science and IoT company which was founded in October 2015 in Frankfurt am Main, Germany. The company consists mainly out of two branches. On one hand, it is a consulting company which works together with enterprises from areas such as finance and automotive, helping them improve their processes with data science and IoT. In the consulting approach, the company offers the entire spectrum of Data Science and IoT from statistical methodology to required technology architectures. The fast implementation of Proof of Concepts is one of the company‘s main priorities. On the other hand, Record Evolution develops different kinds of products. Its latest product is the cloud data warehouse Repods which was launched in summer 2018. With Repods, enterprises can manage and analyze data histories in data pods, compact data warehouses equipped with storage and computing resources. Moreover, the company is currently working on its IoT studio Reswarm.
Experience Originating Ideas
The original idea for the company and the repods.io platform came from the self-experienced need to make a professional data pipeline usable for technically affine analysts. The team specifically want to enable smaller entities and teams to benefit from the fast developments in the big data and analytics world by significantly lowering the entry level. In addition, the company wanted to create an affordable solution for small and medium-sized business which do not have the resources for investing in the common cloud data warehouses. Furthermore, the CEO had the strong wish of taking over the leadership and founding his own enterprise according to his imaginations and ideas. That’s how Record Evolution was founded in 2015. The company expanded little by little and counts nowadays with an international team of sixteen employees from six different nations.
An Industry Veteran
Dr. Marko Petzold, Founder and CEO of Record Evolution finished his studies with a Ph.D. in mathematics and kept his love for theoretical challenges ever since. He learned the data craft in a diverse set of projects and decided that he wanted to go his own way. Dr. Marko founded Record Evolution with a clear dedication and vision to create a platform for data scientists and data engineers. He has profound know-how of the industry coupled with a deep understanding of required technology stack where he himself contributed a considerable part.
Significant Contribution to the Big Data Analytics Industry
Record Evolution uses an end-to-end consulting approach that covers tools and technologies, as well as statistics and business context. Whether one needs support in building an analysis team, evaluating their current data infrastructure or building a long-term analysis platform for analysts – the right tools and infrastructure are essential for having success. The company helps its clients to modernize their data pipelines to support present and future machine learning scenarios. Record Evolution‘s repods.io platform enables small companies to benefit from the tools and developments in the big data analytics world also in a reduced setting.
Novel Diversity Driving Innovation
Record Evolution’s way of working, its product development and its customers’ feedback make the company very innovative. The company has an international team with people from different ethnic and professional backgrounds. This makes Record Evolution very flexible and open-minded as the team can learn a lot from each other and gather new ideas. The company is continuously working on new products and updating the ones that it already has (in this case Repods and Reswarm) in order to adapt them to the clients’ needs and assure that they stay innovative and up to date to the latest trends. Record Evolution‘s partner crossbar.io is a key player in modern data messaging infrastructure which is a key technology for IoT data pipelines and is deeply integrated into the repods technology.
Outlining Current Industry Trends
Dr. Marko feels the coming challenges of IoT drives data to cloud infrastructure where large amounts of data will be accumulated and must be prepared for data analytics and machine learning. Industrial manufacturing enterprises will step into the data analytics world which presently is dominated by general business administration use cases.
Achievements Detailing Glory
One of the best feedbacks the company has received so far is from one of its customers Tobias Oberstein, CEO of crossbar.io: “After 15 years in data analysis, Repods is a breath of fresh air – a unique combination of data integration and data processing, access to business power users with a great graphical user interface.”
This feedback shows that Record Evolution’s product Repods is really revolutionary and useful to its customers. Moreover, the company has applied for several awards and was shortlisted by the Red Herring Award and a German founder award.
Overcoming Business Challenges
Dr. Marko believes Founding a startup is always challenging and especially in the beginning, you have to face a lot of obstacles. Successfully balancing the project work with platform development is an ongoing challenge. “As our own background is technical and natural science oriented we had to learn a few lessons on proper product marketing in the B2B area. Creating and developing a big customer base in such a competitive market requires a lot of proficiency and time but in the end, all the effort pays off, ” he said.
Outlook Towards the Industry
Dr. Marko said the importance of Big Data Analytics is increasing continuously due to the digitization which a lot of sectors have not implemented yet or are still planning on how to realize it. The amount of data keeps growing which means that there will be a high demand for Big Data professionals from different areas. “Therefore we are very positive with respect to the outlook in the industry and the position of our company. We are on the right strategical track and believe that the number of projects related to this field will increment, ”he added.