Data Quality Tools Market
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Published By: Zion <strong>Market</strong> Research<br />
Global <strong>Data</strong> <strong>Quality</strong> <strong>Tools</strong> <strong>Market</strong> will grow at 16.8% CAGR<br />
to exceed $ 1283.83Mn by 2022<br />
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<strong>Data</strong> <strong>Quality</strong> <strong>Tools</strong> <strong>Market</strong><br />
Many business analysts recognize the importance of high-quality data for the success of their business.<br />
Hence, there is a growing trend in integrating data quality management within their particular<br />
organizations. It is not easy to do it manually with such an amount of data available these days. <strong>Data</strong><br />
quality tools are used to deal with various aspects of the data quality predicament such as disintegration<br />
of text fields into component parts and formatting of values into reliable layouts based on industry<br />
standards; alteration of data values to meet domain limitations, integrity constraints or other business<br />
rules that define sufficient data quality for the organization; identification, and linking related entries<br />
across sets of data; and exploitation of controls to ensure ongoing conformance of data to business rules<br />
that define data quality for the organization.<br />
According to the report, global data quality tools market was valued at approximately USD 505.65 Million<br />
in 2016 and is expected to reach approximately USD 1,283.83 Million by 2022, growing at a CAGR of<br />
around 16.8% between 2017 and 2022.<br />
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Analyzing and disintegrating huge complex database that arrives in enterprises on daily basis is not an<br />
easy task for the analyst. Hence, many organizations are taking help of third party service providers to<br />
solve the data related problems. And this factor is primarily driving the growth of data quality tools<br />
market. To make business successful one has to gather the business related data from internal as well<br />
as external sources. Internal data is can be found in a formatted manner but external data is not well<br />
organized. Thus, data quality tools play vital role to organize and analyze the external data.
<strong>Data</strong> <strong>Quality</strong> <strong>Tools</strong> <strong>Market</strong><br />
Growing importance of departmental data in organizations business strategies further anticipated the<br />
growth of this market globally. Furthermore, need for improving bottom-line performance through better<br />
customer engagement drives the growth of quality data tool market. Rise in artificial intelligence in data<br />
quality tools software is expected to fuel the data quality tools market globally. However, lack of<br />
awareness of data quality tools among the organizations, especially those organizations which are new in<br />
the market and targeting to achieve market share, restrain the growth of global data quality tools market.<br />
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<strong>Data</strong> quality tools market is segmented based on data type, component, vertical, and region. <strong>Data</strong> type<br />
segment includes in this market are financial data, supplier data, customer data, and product data.<br />
Customer data segment is expected to have faster growth in given forecasted period due to an increased<br />
focus on customer engagement by enterprises. The component segment includes software and services.<br />
Many data quality tool vendors have developed technologically advanced and efficient software to<br />
minimize the data complexity. Due to this, software segment has moderate growth in giving forecasted<br />
period. The vertical segment includes banking, financial services, and insurance (BFSI),<br />
telecommunications and IT, retail and ecommerce, healthcare and life sciences, manufacturing, and<br />
government. Retail and ecommerce industry has moderate growth in this market due to huge customer<br />
data available. The regional segmentation includes the current and forecast demand for North America,<br />
Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major<br />
countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.<br />
Key players profiled in this market include Information Builders, Microsoft Corporation, Pitney Bowes Inc.,<br />
Syncsort, International Business Machines Corporation, Informatica, Oracle Corporation, SAP SE, SAS<br />
Institute Inc., Talend, Experian PLC.<br />
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<strong>Data</strong> <strong>Quality</strong> <strong>Tools</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research<br />
Address: 4283, Express Lane, Suite 634-143, Sarasota, Florida 34249, United States<br />
Tel: +1-386-310-3803 GMT<br />
+49-322 210 92714 Tel: +1-855-465-4651 (US/CAN TOLL FREE)<br />
Email: sales@zionmarketresearch.comWeb:www.zionmarketresearch.com
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