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Data Preparation Tools Market

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Data Preparation Tools Market
Data Preparation Tools Market – Top players
are Informatica corporation, Alteryx, Inc.,
Tibco Software Inc
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.
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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.
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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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights,
historical data, and verifiable projections about market size. The projections featured in the report have
been derived using proven research methodologies and assumptions. By doing so, the research report
serves as a repository of analysis and information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications.
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