Unlike traditional databases, InterSystems' CachÃ© can ingest data at very high rates with low latency, and allow SQL processing while the data accumulates, he said.
Examples of its use include an ESA project to map one billion celestial objects that will require the processing of tens of thousands of 600-byte records each second. According to Nagel, CachÃ© has been demonstrated to handle 90,000 records per second.
Another example is the third largest trading platform in the world (behind the New York Stock Exchange and NASDAQ), which runs at a large US investment bank. The bank previously used a system that was developed in house, but it sometimes failed near the end of the trading day, requiring a considerable recovery effort to identify which trades had been committed.
It was replaced with a CachÃ© based system that delivered better than required latency, halved the infrastructure costs, and - most importantly -= removed the uncertainty associated with system failures.
CachÃ©'s approach also works with unstructured data, he said. Publishers are already using CachÃ© to extract concepts from articles as they are being written, retrieve related previous stories for the writer's reference, and then automatically route the finished article to the appropriate editor with a recommendation of its importance. "That's going to be another growth area," said Nagel.
Similarly, the software is being used in contact centres to automatically route incoming emails to the most appropriate customer service agents.
Nagel suggests developers should look for opportunities to improve the ways businesses are run, by tapping into all the available data (structured and unstructured), allowing decisions to be made close to the point of action (to avoid delays), and to take advantage of "mass personalisation".
He thinks data-centricity and massive scalability are important for the next generation of enterprise applications, and will allow companies to run "in profoundly different ways".
"we're very excited about some of the successes customers have had with the [CachÃ©] technology," he said.