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What are the different trends in market to boost the Data Discovery Market demand?

Author : Ronak Bora | Published Date : 2019-03-22 

U.S. is anticipated to lead the data discovery market owing to the early adoption of new and emerging technologies, large investments in cloud-based solutions, and the presence of a high number of businesses in this region. The Asia Pacific is anticipated to witness an exponential growth. due to the increasing demand for BI technologies such as data discovery software, among SMEs.

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Data Discovery Market size is anticipated to grow significantly over the future owing to the increasing demand of businesses for visualization and explorative data analysis services. As data is becoming more complex, most businesses require flexible functions that help in efficient access and preparation of data analysis. Data integration and preparation capabilities allow business users to connect to appropriate organizations and external data sources.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Datawatch Corporation
  • Platfora
  • TIBCO
  • SAP SE
  • Oracle Corporation
  • ClearStroy
  • Datameer Tableau Software

Data discovery market applications use visual tools comprising heat-maps, geographical maps, and pivot tables to make the process of finding patterns faster and intuitive. An exponential growth of big data has caused an increase in data traffic, which has resulted in the development of BI technologies. Hence, there is an increasing demand for data discovery software and solutions to evaluate the data and get actionable insights. Traditional BI tools have been known to increase the organizations’ dependence on technical staff leading to higher operational cost, which could be reduced by making use of data discovery services. These factors have caused data discovery market to rapidly replace BI tools.

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Increasing adoption of on premise deployment model is predicted as compared to cloud models. This is mainly owing to factors such as data protection and confidentiality of organizational data. The BFSI segment is expected to grow predominantly in the data discovery market, where such solutions are used to predict and tackle issues related to identifying the potential customer segments, drawing up efficient investment plans, and insufficient data modeling capabilities.

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An increase in the adoption of these tools and software by SMBs will give rise to opportunities for the growth of data discovery market due to the low-cost cloud model availability. This is mainly attributed to the enormous quantity of data due to availability and usage of multiple media touch-points; for instance, social media and mobile applications.

Vendors in the data discovery market include Datawatch Corporation, Platfora, TIBCO, SAP SE, Oracle Corporation, ClearStroy, and Datameer Tableau Software.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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