Report Identifies Data Unification And Consolidation Among Four Capabilities Of Agile Enterprise Information Management
CAMBRIDGE, MASSACHUSETTS — January 15, 2018 — Tamr Inc., the leader in enterprise data unification, has again been included as a Representative Vendor in Gartner’s Market Guide for Data Preparation*. The Market Guide states “data preparation — the most time-consuming task in analytics and BI — is evolving from a self-service activity to an enterprise imperative.” It goes on to note that “the market for data preparation is currently estimated to be around $780 million in software revenue and will continue to grow and experience a healthy 18.5% CAGR (from 2016 through 2021), reaching an estimated value of $1.50 billion by 2021.” Consequently, when combined with Tamr’s other addressable market segments, including data integration, master data management, and data quality, the company is pursuing a growing opportunity in excess of $5 billion.
As a growing number of industries face digital disruption, companies are seeking to turn their data into a source of competitive advantage through analytics. However, large enterprises in particular are unable to unlock transformative insights from their data because it is trapped in silos scattered across business units, regions, and departments. Traditional IT-centric approaches to data integration have struggled to keep pace with the growing volumes, velocity, and variety of data that are now the norm for most large businesses, creating a pressing need for new approaches. Gartner notes that “organizations report that they spend more than 60 percent of their time in data preparation, leaving little time for actual analysis,” and further projects that “by 2020, data preparation tools will be used in more than 50 percent of new data integration efforts for analytics.”
In the 2017 version of the Market Guide for Data Preparation, Gartner listed Data Unification and Consolidation as one of four capabilities of Agile Enterprise Information Management. The authors note that “the market for data preparation has now evolved from tools supporting only self-service use cases into platforms that enable data and analytics teams to build agile and searchable datasets at an enterprise scale for distributed content authors.” The report goes on to say that “by 2019, data and analytics organizations that provide agile, curated internal and external datasets for a range of content authors will realize twice the business benefits as those that do not.”
The report indicates a number of trends that will continue to drive adoption of data preparation tools. Among them are the evolution from self-service data preparation to enterprise data preparation as well as the importance of machine learning capabilities to automate and operationalize integration processes. These ideas that have been central to Tamr’s product strategy since the firm’s inception and are covered by the company’s issued patent titled Method & System for Large Scale Data Curation.
“Large enterprises are increasingly realizing that they must rapidly innovate their data supply chains to make their digital transformation initiatives successful,” said Toffer Winslow, Growth & Marketing Lead for Tamr. “Machine learning-powered data unification is upending traditional rules-based approaches to data integration and making a large class of previously intractable problems finally solvable. To us, Gartner’s inclusion of Data Unification and Consolidation as part of agile enterprise information management and machine learning as a key part of the data curation process is confirmation of what we hear from our customers every day.”
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* Gartner, Market Guide for Data Preparation, by Ehtisham Zaidi, Rita L. Sallam and Shubhangi Vashisth, published: 14 December 2017.
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Tamr is the enterprise-scale data unification company trusted by industry leaders like GE, Toyota, Thomson Reuters, and GSK. The company’s patented software platform uses machine learning supplemented by human expertise to unify and prepare data across myriad silos to deliver previously unavailable business-changing insights. With a co-founding team led by Andy Palmer (founding CEO of Vertica) and Mike Stonebraker (Turing Award winner) and backed by investors including NEA, Google Ventures, and GE Ventures, Tamr is transforming how companies get value from their data.