A new market study, titled “Discover Global Data Quality Management Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
As more and more organizations are driving their growth engines through machine learning or other complex algorithms, the rise of data quality management market is expanding at an astonishing pace. Companies need to derive inferences from the vastly complex world of data warehouses and for the process need the right software solutions that enhance their capabilities.
Companies these days come across a variety of data from a wide spectrum of sources. Whether it is a phone call or written feedback from your customer, each and everything is a data point for the data science enthusiast. To accelerate growth or to optimize the serviced for better services, companies need consistent data. The heterogeneous sources and solutions only increase the complexities. But that has not deterred the companies from trying multiple solutions. The firms have come up with a range of tools to check the quality of solutions and avoid human errors.
The global data quality management market represents a huge opportunity for companies all around the world. The segment hit a major milestone in the year 2018 and has since then is growing at an unprecedented growth. The industry is expected to cross a significant figure in the year 2025. The compound annual growth rate for the following years is expected to be xx per cent.
Key Players of Global Data Quality Management Market =>
The vast, lucrative field has attracted wide many companies all across the world. Some of the biggest names in the industry are Talend, Microsoft, SAP, Oracle, IBM, Syncsort, Informatica, Experian and a lot many other companies. A whole lot many companies have come up with unique solutions in the field and are giving a run for the buck to the larger companies. These companies can be a major acquisition by the other prominent players in the data quality management market.
The development of the industry through cloud-based or on-premises solutions has boosted the sector by a great extent. The sector has application in almost every major industry. Clients from BFSI, telecommunication and healthcare count themselves as customers for the data quality management market. Despite the size, every other company needs solutions that can last long at the most affordable price points.
Factors affecting the growth engine
There is a slew of factors that affect the growth of the data quality management market. The primary concern of most companies is to use various tools and techniques to understand their customers better and drive growth. Customer-centric combined with data-driven decision-making process is the new norm and is being widely accepted by companies all around the globe.
Along with that, several companies have come up with their unique solutions that help companies to streamline the otherwise time-consuming process. Despite the solutions, lack of right talent and the continually changing dynamics of the industry can be a significant roadblock for the industry.
A lot many companies are prepared to pay significant amounts to the developers and with the inclusion of subjects like machine learning and business intelligence in universities the academic institutions are making sure that the students get the right exposure for the emerging field. The data quality management software represents a massive industry in itself, and with the inclusion of modern-day software solutions, the industry is about to grow by leap and bound.
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