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While modern organizations generate astronomical amounts of data every day, many still struggle to make sense of it all. That is gradually beginning to change, however, as more data preparation and analytics providers emerge to empower non-specialist users to turn raw data into actionable data. prospects
In fact, the researchers estimate that the Market for data preparation tools Size will grow at a CAGR of over 20% to reach a total value of $13.15 billion by 2028, and organizations will have a range of affordable data analytics providers to choose from, such as Alteryx, IBM Watson Studio, TIMi Suite and Incorta.
With the data preparation and analytics market in a state of growth, by 2022, more companies that those data analytics providers will invest in will develop solutions that give decision makers greater transparency into their operational data.
Alteryx Acquires Data Preparation Vendor Trifacta for $400M
Data preparation vendor Alteryx announced it has invested $400 million to acquire visual data engineering cloud platform trifact.
By acquiring Trifacta, Alteryx intends to use its advanced cloud platform to help customers build a more robust data pipeline with greater profiling and preparation capabilities.
It’s worth noting that this acquisition follows two recent acquisitions, including Hyper Anna, a cloud platform for AI-driven insights, and Lore IO, a data modeling solution.
2021 was a successful year for Trifacta, with the company announcing annual recurring revenue of $579 million, an increase of 29% over the previous year.
A key reason for the organization’s success in the marketplace is its ability to differentiate itself from other specialist solutions by ensuring that non-developers have the option to gain access to meaningful insights.
IBM acquires Envizi, mParticle acquires Indicative
There have also been a number of other notable acquisitions in the data preparation and analytics space. At the beginning of this year, IBM announced the acquisition of environmental performance management and data analytics provider Envizi for an undisclosed amount.
The acquisition will allow IBM to create more effective supply chain management solutions, while offering broader coverage of environmental, social and governance (ESG) metrics.
“To drive real progress toward sustainability, companies need the ability to transform data into predictive insights that help them make smarter, more actionable decisions every day. Envizi’s software provides companies with a single source of truth to analyze and understand emissions data across the full landscape of their business operations and dramatically accelerates IBM’s growing arsenal of AI technologies to help companies build operations and more sustainable supply chains,” said Kareem Yusuf, CEO. IBM AI Applications manager in the announcement.
In the future, IBM intends to integrate Envizi with some of its existing solutions, including IBM Maximo, IBM Sterling, IBM Environmental Intelligence Suite, and IBM Turbonomic.
Similarly, shortly after raising $150 million in Series E money In November, customer data infrastructure provider mParticle announced that it had acquired customer journey analytics platform Indicative.
The company completed the acquisition in a bid to help clients gain better visibility into the customer journey, while also making it easier to mine data from external data sources like Snowflake.
By increasing its analytics offering, mParticle will be in a strong position to grow its customer base over the course of the year, which already includes brands such as NBC Universal, Spotify and Airbnb.
ideas are everywhere
Whether an organization wants to monitor ESG goals or the customer journey, there is a vast amount of data to process and a growing number of accessible solutions to process it. In 2022, expect to see the number of easy-to-use data preparation tools increase even more, as vendors aim to break down barriers to information.
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