The world you live in today is not the same world you lived in a few years back. Recently everyone has witnessed some drastic evolution in distributed computing along with enormous surges in the size and diversity and the speed of data inflow as the Big Data accelerated the digital revolution. At the same time, we have experienced some exceptional upturns in computing power and modernization of machine learning, which have empowered artificial intelligence (AI) to offer some innovative solutions, making possible what seemed impossible only a few years ago. A great example of this is the inception of software-based solutions, which not only supports AI but are also user-friendly and empowering businesses to take back the ownership of their data.
An analysis performed by the IDC last year reveals that the rule of 80/20 is still being followed, which means that data professionals utilize most of their time in search and preparation of the data as compared to a very minimum duration spent to perform the data analytics. At the core of digital revolution lies data, in fact, not the data itself but the potential to leverage the worth of operational and analytical acumens obtained from the data, leading to the actions that not only improves the bottom line but also enhances the overall engagement and experience resulting from it. Software solutions for data preparation focusing specifically towards businesses are now capable of minimizing the time professionals spend with data preparation, which eventually maximizes the time available to explore new acumens.
This innovative category of software for preparation of the data is also causing disruption in the software market aimed towards data integration and integrity (DII) and have also become the reason behind the dwindling demands for solutions particularly focused towards IT, where data integration suppliers had dominance, until recently. Software solutions for preparation of the data are continually gaining momentum, representing an increase in growth ratios by three folds as compared to the entire software market aimed towards DII, and an anticipated compound annual growth rate of approximately 19% within the duration of next four years.
Most of the IT departments have been interested in the software solutions for preparation of the data, as it eliminates the possibility of bottleneck faced by the IT within the data analytics projects while still offering sufficient control to fulfill the regulatory requirements as well as demands of in-house policies. Authority combined with collaboration is a fundamental proficiency required by the advanced solution for preparation of the data.
Similar to any other application process for an innovative software, organizations are required to establish a business case and evaluate the return on investment (ROI). Considering the fact that improvements cannot be made to something that is not measurable, standards of measurement is crucial for success. Software solutions for preparation of the data allow users to analyze, clean, systematize, transform, combine, and incorporate data.
The following proficiencies are the foundation on which the standards of measurements can be set:
- The duration required for retrieval and preparation of the data
- General condition and quality level of the data.
- Reduction in the costs previously required for the maintenance and support of the legacy software used for data preparation.
Duration Required For Retrieval and Preparation of the Data
Minimizing the duration associated with tracing, retrieving, and organizing the data will transform the rule of 80/20. Recently, a research conducted by IDC regarding the commercial worth of software for preparation of data evaluated the ROI related to this standard of measurement. The research acknowledged an approximately 88% decrease in the duration spent by experts in the preparation of the data and about a 20% increase in the efficiency of the experts. The subsequent ROI was accomplished within a duration of a few months. As the by-product of improved accessibility to the data, profiling, regularization, control and better collaboration among experts, there has been an improvement in the quality and reliability of the data. Empowering business users to handle the task of data preparation will also liberate IT from the continuous pressure of data preparation, letting it concentrate on further advanced initiatives.
General Condition and Quality Level of the Data
Refining the general quality of data within the organization will result in improved levels of data reliability, which would eventually lead towards improved data-driven business decisions and outputs. Data profiling inside and across columns as per the standard terms and rules defined for business can deliver a general score of data excellence. Considering that business data owners are provided with an improved accessibility and the resource to clean their data with the help of software for preparation of data, the scores would improve gradually, representing the worth and ROI of the software.
Reduction in the Costs Previously Required For the Maintenance and Support of the Legacy Software Used For Data Preparation
Reduced costs are also related to the minimal dependence on previous data preparation technology and the consequential complications. Pertinent to the shift of the latest data preparation techniques to the desktop browser of the end user, the need of resources in the previous ETL software will also decrease, which will eventually minimize the costs associated with infrastructure and licensing. Software for the preparation of the data also offers new prospects to manage more diversities in large sets of data and to enhance the quality of the data to explore further acumens capable of facilitating improved business outcomes through innovative products and services and advance techniques to reach the market.
In case you are seeking opportunities to digitally evolve with data, then you require the software for preparation of the data. You further need it in case the business users are unable to retrieve the data they require or if IT is loaded with the tasks related to preparation of the data, causing delays in the business projects. Moreover, data preparation software will provide the business with reliable data to make better decisions
