Data Challenges
As the trading volume skyrocketed, CoinList’s platform started generating huge volumes of data. Manually aggregating this data from multiple sources was a cumbersome and maintenance-heavy task, not to mention, prone to a lot of human errors.
We currently have a very small DevOps team who jointly manages and supports our systems. With the increasing trading volume moving data manually is a very unscalable process. We do not have any reliable and stable tool to sync our data across multiple sources.
In addition to that, generating real-time reports using unified data was almost impossible and with a growing data volume, this problem was bound to get worse.
We were unable to run reports based on data from multiple sources. Reporting speed was at an all-time low and periscope (now Sisense) widgets often timed out on business users. To make things worse, there was a lot of human intervention, so there was no way of knowing if these reports were accurate.
To address CoinList’s data challenges, Jim started looking for a cloud data warehouse and an all-in-one ETL solution to enable accurate, real-time reporting with unified data.
The Solution
After settling on AWS Redshift as a data warehouse, Jim looked for a data pipeline tool that -
- Follows Industry-standard practices to secure its servers and databases
- Is fully automated, fault-tolerant, and does not require frequent maintenance
- Has an excellent customer support
- Supports a wide range of integrations
Before going ahead with Hevo, we evaluated AWS Glue and Tray.io but none of those fit our use case as perfectly as Hevo did. It was pretty easy to get started with Hevo due to a straightforward UI and helpful support.
CoinList now loads more than 150 Million events per month from their MySQL, Postgres, and Google Sheets data sources to a Redshift data warehouse with zero data loss and 100% accuracy. Their Redshift data warehouse serves as a single source of truth which is connected to periscope (now Sisense) for data analysis.
Key Results
Before onboarding Hevo, CoinList's engineering team used to spend about 10 hours every week manually loading and aggregating data from different sources. Now that data aggregation is handled by hevo, the engineering team can focus on more important projects. Also, Business users have access to analytics-ready data in real-time and they no longer have to worry about stale numbers on periscope (now Sisense) dashboards.
Hevo moves our data very well, it acts as the nexus for all of our ETL needs. Business users can now ask advanced analytics questions without having to wait for the engineering team to manually aggregate data from different sources. As a result, reporting speed and query reliability have improved significantly and data is available within 10-15 mins after it is produced.
CoinList’s platform continues to grow disruptively and in the last year, its user base has doubled to 3.5 million. The number of users who participate in staking has increased from around 400 in July 2020 to more than 22,000 in May 2021. Hevo is happy to be a part of CoinList’s growth journey and looks forward to strengthening this partnership in years to come.
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