The global data preparation tools market
Data preparation tools are implemented as a pre-processing technique, where the data is collected from a variety of sources, cleaned, transformed, and consolidated into one file that can enhance the quality of the data before its usage in data analytics or business analytics.
In order to combine data from many sources and prepare the data for analysis, data preparation tools are primarily employed. Although there are many data preparation technologies found at now, there was a great demand for professional help in the past. Data preparation procedures are changing due to new developments in data preparation technologies, such as data profiling and data cataloging, and developing trends.
In data-driven industries like IT and BFSI, data preparation is more widely accepted. These technologies' main purpose is to efficiently locate the appropriate data at the appropriate time. The decision-making process, however, may be hampered by challenges with data preparation that result in incomplete and time-consuming outcomes. For instance, in spreadsheet-based data preparation, the acquired data are manually integrated, cleansed, and transformed into other forms of data using techniques that are challenging to share or replicate.
Increasing Demand for Self-Service Data Preparation Tools
The analytics and business intelligence markets have been improved by a number of new trends that have evolved in the data preparation industry, including the data's usability and agility. Interactive data preparation utilizing data exploration, modeling, transformation, and metadata support is offered by a number of data preparation tool providers, including Alteryx and Qlik Technologies Inc. Some niche companies, such SAS Institutions, also provide additional capabilities for greater data enrichment and intelligent self-service.
Increasing Need for Dynamic and Engaging text and Images
The volume of online content in the form of images and videos has increased exponentially with the introduction of digital capturing devices, especially cameras built into smartphones. A significant amount of visual and digital information is being collected and shared through numerous applications, websites, social networks, and other digital channels.. With the aid of data annotation, several companies have taken use of this freely accessible web content to provide their clients with smarter and better services. Moreover, the collection of clinical data, including unstructured text documents, has grown as a result of the expanding use of Electronic Health Record (EHR) systems and is now one of the most important resources for clinical research. To access data hidden in clinical text, statistical Natural Language Processing (NLP) models have been developed. Hence all these factors are boosting the growth of global data preparation tools market.
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Market Segmentation
Global
Market Player
Recent Development
Informatica Corporation acquired GreenBay Technologies, Inc. in August 2020, a business that offered AI-based solutions to automate difficult data management processes. With improved productivity and automation, the acquisition has given Informatica Corporation a competitive edge in the market.
Alteryx, Inc. joined forces with Snowflake Inc., a provider of data solutions, in January 2021. Both businesses would benefit from this partnership's speedier data processing, automated data pipelines, and quicker analytics outputs.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | · By Platform · By Deployment · By Function · By Industry Vertical |
| Regional scope | North America; Asia-Pacific; Europe; South America; Middle East |
| Country scope | United States, Canada, Mexico, China, Indian, Japan, South Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France, Russia, Spain, Belgium, Italy, Brazil, Colombia, Argentina, Peru, Chile, , Saudi Arabia, South Africa, UAE, Israel, Turkey |
| Key companies profiled | Alteryx, Inc, Datawatch Corporation, Informatica Corporation, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, QlikTech International AB., SAP SE, SAS Institute Inc., Tibco Software Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
