When it’s time to cut cloud costs, businesses make tough decisions on technology investments. In a post-earnings call Dev Ittycheria, president and chief executive for MongoDB Inc., noted that customers were continuing to analyze these investments to determine the must-haves.

Based on the blowout earnings quarter reported by MongoDB at the start of this month, the document-oriented database provider appears to have been placed in the “must-have” category for a number of enterprises.

“They’re the proxy for developers, because the MongoDB database also uses a lot of cloud compute,” said industry analyst John Furrier, during a recent episode of theCUBE Podcast. “If MongoDB is doing well, that’s the canary in the coal mine that developers are continuing to drive the innovation cycle.”

TheCUBE, SiliconANGLE Media’s livestreaming studio, will cover the MongoDB .local NYC event on June 22, providing the latest news and insights through interviews with company executives, customers and industry analysts. (* Disclosure below)

Multicloud and Atlas

MongoDB’s recent popularity stems from its Atlas solution, a cloud-based model of the database. Atlas has found traction in key vertical enterprise sectors such as financial services. The banking software company Temenos AG recently announced that its cloud on Atlas had processed 200 million embedded finance loans and 100 million retail accounts at a record 150,000 transactions per second, a significant increase over the prior benchmark using a relational database.

“IDC says that 715 million applications will be built over the next two to three years,” said Ittycheria, in a recent interview with theCUBE. “To put that number in perspective, that’s more apps that will be built in the next three to four years than were built in the last 40. People need platforms like MongoDB to build the next generation of applications.”

Atlas has also attracted interest from businesses looking for tools that will help developers deal with a multicloud world. Verizon Communications Inc. uses MongoDB’s technology to provide an abstraction layer that enables easier ways to manipulate data and interact with cross-platform APIs.

The two above-mentioned examples highlight MongoDB’s expanding role in enterprise IT, driven by developer interest, cloud data and the rise of new business opportunities through AI.

“MongoDB is becoming an essential part of the modern IT stack for data,” Furrier said. “They are attracting customers that include the hot new AI companies and continue to focus on developer ease of use and productivity. At their event, I expect them to focus on their key cloud partners around supercloud-like capabilities and AI-focused new features and capabilities.”

TheCUBE event livestream

Don’t miss theCUBE’s coverage of the MongoDB .local NYC event on June 22. Plus, you can watch theCUBE’s event coverage on-demand after the live event.

How to watch theCUBE interviews

We offer you various ways to watch theCUBE’s coverage of the MongoDB .local NYC event, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.

TheCUBE Insights podcast

SiliconANGLE also has podcasts available of archived interview sessions, available on iTunes, Stitcher and Spotify, which you can enjoy while on the go.

SiliconANGLE also has analyst deep dives in our Breaking Analysis podcast, available on iTunes, Stitcher and Spotify.

Guests

Stay tuned for theCUBE’s complete guest list during the MongoDB .local NYC event here.

(* Disclosure: TheCUBE is a paid media partner for the MongoDB .local NYC event. MongoDB Inc. and other sponsors of theCUBE’s event coverage do not have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE