Market Overview

Top 3 Drivers of the Global Data Quality Tools Market | Technavio

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Technavio
market research analysts forecast the global
data quality tools market
to grow at a CAGR of close to 17% during
the forecast period, according to their latest report.

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Technavio has published a new market research report on the global data quality tools market 2017-20 ...

Technavio has published a new market research report on the global data quality tools market 2017-2021 under their ICT library. (Graphic: Business Wire)

The report further segments the global data quality tools market by
deployment type (on-premise and cloud-based) and by geography (the
Americas, APAC, and EMEA).

This report is available at a USD 1,000 discount for a limited time
only:
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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global data
quality tools
market:

  • Increasing use of data quality tools for marketing
  • Emergence of cloud-based data quality tools
  • Increase in demand for EIM for data quality

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Increasing use of data quality tools for marketing

Data quality tools are being adopted by enterprises to understand the
buying behavior of the consumers and use it for marketing. Enterprises
utilize data quality tools for digital marketing, as these tools enable
them to clean and profile the data to target customers with appropriate
products. Data quality has become very important in creating highly
accurate and sophisticated customer profiles for marketing.

According to Amrita Choudhury, a lead analyst at Technavio for enterprise
application
research, "Data quality tools assist in digital
marketing by collecting accurate customer data and translating that data
into rich cross-channel customer profiles. This also helps them to take
better decisions on how to maximize the available funds. Thus, marketers
are using data quality tools to change the marketing process of their
companies."

Emergence of cloud-based data quality tools

SaaS allows users to connect and use the cloud-based application over
the internet. This solution is provided by cloud providers on a
pay-as-you-go basis. Organizations rent this application to use this
service and it is usually accessed with the help of web browsers over
the internet. In cloud-based data quality tools, all the infrastructure,
application software, application data, and middleware are in the data
centers of cloud providers.

"SaaS-based data quality tools provide functionality, in which the
third-party service provider will own the infrastructure and offer
software on the platform that can be accessed by its customers over the
internet. This provides enterprises that have short project times, with
flexibility and higher scalability. Enterprises can integrate these data
quality tools by using web services. It also helps enterprises in
mobilizing their workforce,"
says Amrita.

Increase in demand for enterprise information management (EIM)
for data quality

Several data management related steps are being undertaken by
enterprises for improving the decision-making processes in all the
departments. These initiatives include application modernization, data
governance, BI, master data management, and business analytics.

The market is specifically driven by the high demand for data
governance, a significant component of EIM. Also, several BI and
analytics-related applications require good-quality data to perform
efficiently. Thus, the increasing demand for EIM is increasing the
adoption of data quality solutions by enterprises in the market.

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