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SOMERS, NY - 06 Nov 2003: IBM today announced that E*TRADE FINANCIAL Corporation has selected IBM's DB2 Universal Database software running on Linux to create a business intelligence system that will help cross sell the company's suite of integrated financial solutions.
E*TRADE FINANCIAL is using IBM's DB2 Integrated Cluster Environment (ICE) software, a new low-cost, high-performance database cluster running Linux on IBM eServer xSeries. Clusters are a series of connected servers and storage systems that spread tasks across servers to handle computing tasks faster and more reliably. IBM's clusters allow businesses to quickly add servers for additional power, on demand, during periods of rapid business activity or growth.
The company expects that the repository of customer information managed and analyzed by the IBM solution will become an integral part of its strategy to center its technology around the customer. IBM's researchers collaborated with E*TRADE FINANCIAL to tailor the product to meet the company's needs, enabling it to take advantage, at a moment's notice, of rapid or subtle changes in its customer base, the marketplace, or the broader financial markets.
Business intelligence, the science of analyzing raw data to capitalize on sales patterns or to institute efficiencies, is a fast-growing area. According to research group IDC, the market for business intelligence software is already worth more than $7 billion worldwide and could double by 2006.
"E*TRADE FINANCIAL serves over three and a half million customer accounts worldwide with a variety of integrated brokerage, banking and lending products. Critical to our success is our cross-selling efforts -- ensuring that all customers have access to the products that meet their specific financial needs," said Joshua S. Levine, Chief Technology and Administrative Officer, E*TRADE FINANCIAL Corp. "IBM's Linux database offering and its business intelligence products are a precise and cost effective way to enhance these efforts, by helping us to better understand our individual customers and anticipate their needs."
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