Transparency Market Research
Data preparation converts data sets in such a way that information contained in them is represented in the best possible way. Data preparation tools enable data conversion, discovery, analysis, exploration, transformation, cleaning, modeling, curation, structuring, and cataloguing within a single offering. The various practices in the data preparation tools market are data cleansing and manipulation, self-service data preparation, advanced analytic techniques, increasing data sources, and sharing metadata. Data preparation is vital for successful data handling since poor quality data often results in unreliable data mining and incorrect results. Data preparation tools improve the quality and integrity of data with techniques such as parsing for advanced cleansing and fuzzy matching. Additionally, they create a repeatable workflow design that speeds up the data delivery process, ultimately resulting in improved productivity. Expansion in the global data preparation tools market is fuelling demand for high investments in channel partnerships, service conveyance, system integration, and analytics technology. All the main storage management, networking, systems manufacturers, and processor chip fabricators are expected to have a major share in the data preparation tools market. Rise of big data has caused development in data storage technologies. Availability of a large volume of data has led to the creation of specialized tools for data preparation. These tools are gaining traction due to a rise in the need to analyze internal as well as external sources of data generated by organizations on a daily basis. The data preparation tools market is currently creating an impact on both the IT and business sides of organizations.
A key factor driving the data preparation tools market is the increase in real- time data. It enables users to make faster and wiser decisions. Moreover, the need to follow regulatory and compliance requirements in several industries such as health care, BFSI, transportation, energy & utility, telecommunications & IT, manufacturing, and others is estimated to play a vital role in boosting the data preparation tools market. Modernization of business operations and the use of data preparation tools in business analytics is also expected to positively impact the expansion of the data preparation tools market. However, data security is an issue that is likely to hamper the data preparation tools market. High initial implementation cost is another factor anticipated to restrain the data preparation tools market. Furthermore, the selection of a cloud infrastructure partner and suitable analytical tools is a challenge faced by the data preparation tools market.
The data preparation tools market can be segmented based on deployment model, type of tool, platform, industry vertical, and geographic regions. Based on deployment model, the data preparation tools market can be classified into on-premise and hosted. In terms of type of tool, the market can be segregated into data cataloging, data curation, data ingestion, data quality, and data governance. Based on platform, the market can be classified into data integration and self-service data preparation. In terms of industry vertical, the market can be divided into health care, BFSI, government, transportation, energy & utility, telecommunications & IT, manufacturing, and others. Based on geographic regions, the global data preparation tools market can be split into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to hold a dominant share of the data preparation tools market due to significant growth in data through IOT and other connected devices in the region.
Key players operating in the global data preparation tools market include Informatica corporation, Alteryx, Inc., Tibco Software Inc., International Business Machines Corporation, SAS Institute, Microsoft Corporation , Tableau Software, Inc., Datawatch Corporation, SAP SE., Qlik Technologies Inc., Talend. These players deploy several organic and inorganic growth strategies in order to gain competitive advantage in the market. Vital strategies followed by these companies include collaborations, agreements, partnerships, and launch of new products.
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