Data mining applications uncover hidden pattern and relations residing in data clusters giving rise to timely data critical to business applications and are any organization’s asset with cognizance to end-user data in being the bedrock of data prep market. The market forces inspiring growth of data prep market include timely rendering of crucial data critical to business applications, strict adherence to a regulatory framework and policy guidelines, benefits of business going mainstream, and predictive analysis that predicts business outcome via data mining and additional tools.
Segmentation by platform comprises self-service data prep and data integration. Segmentation by tool includes data curation, data ingestion, data cataloguing, data governance and data quality. Segmentation by deployment comprises hosted and on-premises. By industry vertical, it comprises BFSI, government, healthcare, manufacturing, energy and utility, transportation, telecommunication and IT, and others. By region it manifests itself into North America, Europe, Asia Pacific, MEA, and Latin America.
Self-service data analytics is growing at a feverish pace by presenting unambiguous client-based data and computational tools to help faster decision-making and increased organizational efficiency in order to retain the competitive edge. The forecast period will be a spectator to an enriching self-service data analytics platform by data prep market. The data prep market by quality is expected to witness boom in the market; thanks to timely availability of user-specific data with importance attached to storing, retrieval, and utilization of data; and with market progress; As such, all the organizations - hotels, restaurants, educational institutions are getting benefited.
North America is expected to hold the largest market share in the data prep market owing to rising prominence given to cloud computing, investments of large nature in cloud technologies, leverage to emerging technologies, and large presence of investors in the region. Asia Pacific is still in its nascence but promises growth due to growing demand for data prep tools and presence of SME’s in the region. Target audience in this field includes service providers and distributors, data prep application builders, independent software vendors (ISV’s), Analytics consulting companies, enterprises, and end-users.
As suggested by the latest news article, B.I once had the comforting presence of static dashboards but now is witnessing dynamic real-time data analytics with a growing list of contenders such as Tableau, DataWatch. Incorporating software for natural Language Processing, users interact with data through human language in providing contextual information. The key industry players include Alteryx, Inc., Informatica, International Business Corporation, TIBCO Software, Inc., Microsoft Corporation, SAS Institute, Datawatch Corporation, Tableau Software, Qlik technologies inc., SAP SE, Talend and Microstrategy Incorporated.
Research Support Specialist, USA