Data is widely recognized as one of the most important resources in a rapidly evolving digital economy. Understanding how future trends will shape your field in order to efficiently harness the power of data is one of the biggest assets for any professional planning ahead. In this context, the latest Data Discovery Market Report offers valuable insight into the industry.
The State of Play in Data Discovery
Data discovery is a key term for business intelligence professionals and refers to the process of identifying patterns and outliers in sets of data. With data discovery, big datasets can be turned into meaningful information according to the desired objectives. For example, you can take location-based data and use a map maker app to create stunning visualizations in the form of maps.
Data discovery is crucial in the context of data classification, which sees data categorized according to format into structured or unstructured, state, and sensitivity across high, medium and low sensitivity levels. It is also pertinent for big data applications, since every industry is striving to find ways to put immense volumes of information to good use.
It is estimated that by 2020 every individual will see roughly 1.7 MB of new data created about them every second, while the total big data volume will reach 44 zettabytes – that is, 44 trillion gigabytes – by that same year, up from just 4.4 zettabytes this year. This figure takes the new internet of things developments into account, as well as the meteoric rise of smartphones and social media: smartphone users will amount to over 6 billion by 2020, and Facebook sees over 31 million messages sent per minute.
The New Data Discovery Market Report
Against this setting, the new Data Discovery Market Report examines and analyzes the market and important players in the field in order to draw conclusions about the current situation. The report also offers an analysis on strengths, weaknesses, opportunities and threats (SWOT) for top vendors. Factors that are examined vary from leading companies and key processes to metrics like gross margin, business volume and production value. The approach also outlines information on market competition and focuses on potential trends and growth opportunities in the period from 2018 to 2023. The document breaks down the market by geographical segments across North America, Asia-Pacific (APAC), Europe, the Middle East and Africa, and Rest of the World (ROW).
Interestingly, the report also discusses aspects that are vital yet sometimes overlooked as vague, including strategical activity that ranges across mergers and acquisitions, strategic partnerships, and product development processes, while examining pertinent dynamics of the market. By offering a wide spectrum of statistics gathered by the research, which combined primary and secondary data along with feedback from industry professionals, the report is able to draw conclusions about the current state and the future of data discovery trends. New projects are also examined according to their feasibility while the report sheds light on manufacturer profiles, including a business overview. The research is structured across many different aspects, ranging from a comprehensive cost analysis to an exploration of market consumption and share by application.
The report, which is available for a fee, offers a nuanced and comprehensive guide to the data discovery market – one that professionals across industries will find informative and useful.