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While modern organizations generate astronomical amounts of data every day, many still struggle to understand it all. However, that is slowly beginning to change, as more data prep and analytics providers come to the surface to enable non-exclusive users to translate raw data into efficient insights.
In fact, researchers estimate that the size of the data preparation tools market will grow at a CAGR of over 20% to reach a total value of $ 13.15 billion by 2028, with organizations having a range of accessible data analytics providers to choose from, such as Alteryx, IBM Watson Studios, TIMi Suite. , And Incorta.
With the data analytics and preparation market in a state of growth, in 2022, more companies will invest in data analytics providers to develop solutions that will give decision makers better transparency on their operational data.
Alteryx acquires data preparation provider Trifacta for 400 million
Data preparation provider Alteryx has announced that it has invested 400 million to acquire the visual data engineering cloud platform Trifacta.
By acquiring Trifacta, Alteryx seeks to help customers build stronger data pipelines with more profiling and preparation capabilities using its advanced cloud platform.
It is worth noting that this acquisition follows two recent acquisitions, including Hyper Anna, an AI-powered cloud platform for gaining 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, up 29% from the previous year.
The main reason for the organization’s success in the market 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 Envizy, acquires mParticle Indicator
There have also been a number of other significant acquisitions in the space of data analytics and preparation. Earlier this year, IBM announced the acquisition of Environmental Performance Management and data analytics provider Envizi for an undisclosed amount.
The acquisition will enable IBM to create more efficient supply chain management solutions, while offering more coverage of the Environmental, Social, Government (ESG) metrics.
“To make real progress towards sustainability, companies need the ability to transform data into predictive insights that help them make more intelligent, efficient decisions every day. Envy’s software provides a single source of truth for companies to analyze and understand emissions data across the entire landscape of their business operations and dramatically accelerate IBM’s growing arsenal of AI technologies to help businesses build more sustainable operations and supply chains, “he said. Was the manager of IBM AI applications in advertising.
In the future, IBM intends to integrate Envy with some existing solutions, including IBM Maximo, IBM Sterling, IBM Environmental Intelligence Suite, and IBM Turbonomic.
Similarly, shortly after raising $ 150 million in Series E funding in November, consumer data infrastructure provider mParticle announced that it had acquired the Consumer Travel Analysis Platform Indicative.
The company has completed the acquisition in an effort to help customers gain better visibility in the customer journey by making it easier to extract data from external data sources such as Snowflake.
By expanding its analytics offer, mParticle will be in a strong position to increase its customer base over the years, with brands such as NBC Universal, Spotify and Airbnb already involved.
Insights are everywhere
Whether an organization wants to monitor ESG goals or customer journeys, there is plenty of data to process, and a growing number of accessible solutions to process. In 2022, expect a further increase in the number of easy-to-use data preparation tools, as providers aim to break down barriers to insight.
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