WANdisco Chairman and CEO David Richards In theCUBE For BigDataNYC

Banks and large financial institutions are “where rubber meets the road in terms of Hadoop adoption,” says WANdisco Chairman and CEO David Richards. He explained that the technology investment is easily justifiable because, according to customer experiences, Hadoop allows them to cut down half of their traditional storage infrastructure and save a half billion dollars per year.

The technology solves storage cost issues and helps financial institutions solve problems quickly, such as determining if a certain geographical area is making money, and the accuracy of top risk elements analysis.

“Hadoop is going to become ubiquitous. It will commoditize as a platform very quickly,” Richards explained, adding that it disappears behind applications and tools built on top of it.

In his live segment with theCUBE co-hosts Jeff Kelly and Dave Vellante at the Big Data NYC event, Richards said, “I don’t think that Hortonworks and Cloudera need to be acquired” or go public. Mature shareholders want cash and dividends, he explained, while these companies need to show growth and be able to adapt their business models.

Wikibon analyst Jeff Kelly said Hortonworks or MapR would be the first to go public and not Cloudera, as the company “has bought a lot of time” with the recent investment from Intel.

Watch the full interview below. You can catch up on archived interviews on SiliconANGLE’s YouTube Channel here.