Data Preparation Tools Market Share, Analysis, Competitive Landscape, Status and Future Forecasts to 2025 “The demand for data from retail and IT sector is increasing, due to which the market is expected to grow substantially with a CAGR of 25.1%.�
The Global Data Preparation Tools Market was valued at USD 1.10 billion in 2016 and is predicted to reach USD 8.47 billion by 2025 due to increase in demand for data from various industries for analysis. Data Preparation is the method of collecting, integrating, structuring and organizing data so that is can be examined as a part of visualization, analytics and machine learning applications. The demand for data from retail and IT sector is increasing, due to which the market is expected to grow substantially with a CAGR of 25.1%. The components of data preparation include pre-processing, profiling, cleansing, validation and transformation; it also involves pulling together data from different internal and external sources. Data Preparation is performed by Information Technology and Business Intelligence teams since they combine data sets to store the data in data warehouse, Hadoop data leak repository or NoSQL database. Moreover, data analysts can take the help of self-service data preparation tools to gather and prepare analytical data with data visualization tools like Tableau. Data preparation makes sure that the data to be analysed is consistent and accurate for the valid and useful results. Sometimes, data is created with inaccuracies, missing values and other errors. Data is also stored in different databases and files that causes confusion and ambiguity for data reconciliation. At such times, data preparation process is required for the improvements like fixing inaccuracies, performing verification, and integrating data sets for improved analytic results.
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