The companies are demanding fast debugging time to generate meaningful insights than ever to sustain in the market owing to digital disruption. As a result, the requirement for analytics, particularly data analytics is becoming pervasive across various size of organizations. The data analytics professionals and companies are finding difficulties in driving insights owing to rising complexities in the procurement of data. The data collected are usually unstructured or semi-structured which requires being in the uniform format leading to maximum yield and efficiency. In response to this problem, companies are devoting more or maximum time in data preparation to generate and have clean data to perform analytics. According to Oracle, it is estimated that approximately 90% of the time is invested for data preparation in the chain of data analytics.
Rising Complexity of Data Structures
The increasing volume of unstructured and semi-structured data are increasing owing to diverse data sources which require data preparation as a vital process which is likely to foster the market growth. Additionally, the complex data is required to have precise data cleaning to extract meaningful insights from the same which is expected to propel the market growth over the next six years.
Cloud to Exhibit the Highest Growth
The deployment of data preparation tools over cloud offers various advantages over on-premise including scalability and flexibility. Companies such as Google are moving towards the adoption of cloud-based tools owing to enhance the flexibility of the same. In September 2017, Google introduced a beta version of public cloud data prep which is likely to compel similar industry players to enter in the market which is, in turn, expected to fuel the market growth over the forecast period.
Asia Pacific to Witness the Highest Growth
There is a rise in crimes reported in the BFSI sector in India, leading to financial sectors rapidly adopting fraud detection techniques to prevent the same. These techniques predict the fraud(s) based on the big data generated from users and previous data which requires intense amount of data preparation thereby having a positive impact on the market in Asia Pacific region.
Key Developments in Data Preparation Market
- January 2018 - IBM launched platform approach to data science offering such as hybrid data management, unified integration & governance platform, and data science & business analytics platform which will comprise data cleaning as a crucial step thereby widening the consumer base
Reasons to Purchase Data Preparation Market Report
- The future prospect of the data preparation market and opportunities
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Regional analysis of the market
- Identify the latest developments, market shares and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet (in Excel)
This report can be customized to meet your requirements. Please connect with our Customer Service team, who will ensure you get a report that suits your needs.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Data Preparation Market Research Approach and Methodology
3. Executive Summary
4. Data Preparation Market Dynamics
4.1 Data Preparation Market Overview
4.2 Industry Value Chain
4.3 Factors Driving the Data Preparation Market
4.3.1 Rising Complexity of Data Structures
4.3.2 Growing Requirement for Analytics
4.4 Factors Restraining the Data Preparation Market
4.4.1 Lack of Awareness and Complexity in Data Gathering
4.5 Industry Attractiveness – Porter's Five Industry Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
4.6 Technology Snapshot
5. Data Preparation Market Segmentation
5.1 Data Preparation Market By Deployment Type
5.2 Data Preparation Market By Enterprise Size
5.2.1 SMEs and Mid Sized
5.2.2 Large Enterprise
5.3 Data Preparation Market By End-User Vertical
5.3.5 IT and Telecommunication
5.4 Data Preparation Market By Geography
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6. Competitive Intelligence – Company Profiles
6.1 Microsoft Corporation
6.2 Tableau Software, Inc.
6.3 Qlik Technologies Inc.
6.4 SAP SE
6.6 IBM Corporation
6.7 SAS Institute
6.8 Alteryx, Inc
6.9 Rapid Insight
6.10 Lavastorm Analytics, Inc.
6.11 ClearStory Data, Inc.
6.12 Cambridge Semantics Inc.
6.13 Talend Inc.
*List Not Exhaustive
7. Investment Analysis
8. Opportunities in Global Data Prep Market