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MathWorks - Leveraging Mathematical Computing To Revolutionize Decision Making

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MathWorks is an American privately held corporation that specializes in mathematical computing software. Its major products include MATLAB and Simulink, which support data analysis and simulation. Engineers and scientists worldwide rely on MathWorks' products to accelerate the pace of discovery, innovation, and development.

This article will give you a gist of MathWorks journey so far. Know more about the company profile of MathWorks, growth, challenges faced by the company and many other interesting things about MathWorks journey by reading this article.

MathWorks - Company Highlights

  • Startup Name-The MathWorks, Inc.
  • Headquarters-Natick, Massachusetts, USA
  • Industry-Mathematical computing software
  • Founded-1984
  • Founders-Jack Little and Cleve Moler
  • Area Served-Worldwide
  • Website-www.mathworks.com

MathWorks - About & How It Works ?

The MathWorks Inc. provides technical computing software used for data analysis, visualization, and mathematical computations. Its MATLAB, Simulink, and Polyspace products are used in such industries as aerospace, automotive, communications, electronics, financial services, and industrial automation.

Applications for MathWorks' products have included hybrid electric vehicle design, race car performance improvements, paper currency verification, and the development of algorithms for DNA sequencing instruments used in mapping the human genome.

MathWorks products are also used for teaching and research at more than 5,000 universities. MathWorks counts more than a million users of MATLAB worldwide and MATLAB-based books are in 28 languages. The company has released software tools for developing products for 5G wireless networks and the Internet of Things.

MathWorks - Recent News

As of November 2020, MathWorks announced a new backtesting framework in Financial Toolbox, available in Release 2020b of the MATLAB and Simulink product families. The new backtesting framework allows investment managers, risk managers, and traders to extend their use of the toolbox for risk, investment, and portfolio management.

“The ability to backtest portfolios can save time and reduce errors that can be introduced by rebuilding tests for each asset class and investment strategy,” said Stuart Kozola, manager – quantitative finance products, MathWorks.

Financial Toolbox enables investment managers, risk managers, and traders to continue working in the familiar, fully transparent, and customizable MATLAB environment to evaluate investment strategies across all asset classes and sources of data, including alternative datasets.

MathWorks - Logo & Its Meaning

The MathWorks logo is an Eigenfunction of the Wave Equation. The L-shaped region formed from three unit squares is interesting for several reasons. It is one of the simplest geometries for which solutions to the wave equation cannot be expressed analytically, so numerical computation is necessary. The 270ยบ nonconvex corner causes a singularity in the solution.

MathWorks - Founder and History

Jack Little, Cleve Moler 

MathWorks was founded in 1984 by Jack Little and Cleve Moler, who recognized the need among engineers and scientists for more powerful and productive computation environments beyond those provided by languages such as Fortran and C.

Jack Little is the CEO and President of MathWorks. MathWorks employs over 4500 people, with 30% located outside the United States. MathWorks is based in Natick, Massachusetts and had other US offices in Michigan and California. Overseas, the company has offices in the UK, France, China, Singapore, India, Ireland, and other countries. It reports that 60% of sales are from international customers.

They combined their expertise in mathematics, engineering, and computer science to develop MATLAB. Its a high-performance technical computing environment. MATLAB combines comprehensive math and graphics functions with a powerful high-level language. Besides MATLAB, MathWorks now develops and markets Simulink, a product for simulating nonlinear dynamic systems.

MathWorks - Mission

MathWorks' mission statement says, "Our goal is to change the world by accelerating the pace of discovery, innovation, development, and learning in engineering and science."

MathWorks - Products

MATLAB, the language of engineers and scientists, is a programming environment for algorithm development, data analysis, visualization, and numeric computation.

Simulink is a block diagram environment for simulation and Model-Based Design of multidomain and embedded engineering systems. The company produces nearly 100 additional products for specialized tasks such as data analysis and image processing.

MathWorks - Business Model

MathWorks strive to be the leading developer and supplier of technical computing software. The company's business activities are characterized by quality, innovation, and timeliness; competitive awareness; ethical business practices; and outstanding service to our customers.

MathWorks serves a wide range of industries, including Aerospace and Defense, Automotive, Communications, Electronics and Semiconductors, Energy Production, Financial Services, Industrial Automation, Machinery, Medical Devices, and Metals.

MathWorks' major customers have included such heavy hitters as General Dynamics, Harris Corporation, Honeywell, General Motors, Jaguar, Hyundai, Genentech, Max Planck Institute, Motorola, Nokia, Intel, Bank of America, Capgemini, Xerox, the University of Cambridge, and the University of Melbourne.

MathWorks - Revenue and Growth

MathWorks reports revenue of $900 million and says its has been profitable every year since its founding in 1984. MathWorks has maintained robust growth, adding a second campus to its Natick, Massachusetts headquarters in 2018 and that it planned to hire about 2,000 workers in Natick over five years.

The company has expanded its products to cover technologies such as artificial intelligence (including machine learning), 5G networks, and the Internet of Things.

MathWorks - Competitors

MathWorks' top competitors include H2O.ai, Maplesoft, C3.ai, Atlassian, Unity Technologies, KMS Technology, Pivotal and Wolfram Research.

MathWorks - Challenges Faced

A significant challenge for MathWorks has been helping customers get data from source into the hands of end users, which is a common barrier for engineers who need data to formulate requirements for new products, troubleshoot field problems, and come up with new technologies.

"Connectivity technologies such as CAN and high-speed mobile communication removed this barrier in many situations. With more and more streaming data, we are faced with a data science challenge. We need to ensure that the speed of data analysis is keeping pace with data intake and, equally important, provide the capability to zoom into and extract insight from stored data throughout the engineering community."

MathWorks - Future Plans

MATLAB has come a long way since the simple calculator that started it all. It is a living ecosystem supporting all aspects of technical computing. The company plans to continue to strengthen existing features as they carefully add new ones.

MathWorks - FAQs

What is MATLAB?

MATLAB, the language of engineers and scientists, is a programming environment for algorithm development, data analysis, visualization, and numeric computation.

What does MathWorks do?

The MathWorks Inc. provides technical computing software used for data analysis, visualization, and mathematical computations.

What companies do MathWorks compete with?

MathWorks' top competitors include H2O.ai, Maplesoft, C3.ai, Atlassian, Unity Technologies, KMS Technology, Pivotal and Wolfram Research.

Who founded MathWorks?

MathWorks was founded in 1984 by Jack Little and Cleve Moler.

Does MathWorks own MATLAB ?

Yes, MATLAB is a product of MathWorks.

MathWorks - Conclusion

MathWorks company has firm believe in the importance of engineers and scientists. The company develops software tools that increase human knowledge and profoundly improve our standard of living. MathWorks is proud to have created MATLAB and Simulink to help engineers and scientists do their best work. Their purpose is to change the world by accelerating the pace of discovery, innovation, development, and learning in engineering and science. The companies guiding principle is “do the right thing”, which means doing what is best for its staff members, customers, business partners and communities for the long term, and believing that “right” answers exist

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