The need to reduce the total cost of ownership of data, and the increasing requirement of data management in organizations as an indispensable demand for business continuity are the major growth drivers of the Enterprise Data Management Market. Most enterprises through different verticals are dynamically framing data management strategies, and measures to ensure data reliability which in turn is positively influencing the implementation of enterprise data management solutions.
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Enterprise data management is the well-organized management of data that arise from an enterprise’s procedures, controls, operations, technology, and people. Enterprise data management solutions benefit organizations to cleanse, standardize, profile, and de-duplicate data associated with operations, marketing, finance, vendor relations and risk management. Enterprise data management helps business organizations to eliminate administrative data conflicts and issues, due to the negligence of information and data. Enterprise data management automatically receives data from third-party cloud services, applications, and enterprise systems. After the data is received, it is checked for uniformity and integrity, in order to provide superior quality information to end-users, or enhance the quality of data. Enterprise data management is all about mining of qualitative data from large amount of data that can be used to establish links, and build strategic interpretations. The data can be either structured or unstructured.
The global enterprise data management market can be segmented on the basis of type of software, type of service, deployment type, industry verticals, user type, and regions. Based on type of software, the global enterprise data management market can be divided into data integration, data quality, data security, data migration, data warehousing, and others. On the basis of type of service the global market for enterprise data management can be segmented into consulting services, support and training analysis, operation, and maintenance services. Based on deployment type, the market can be divided into hosted deployment and on-premises deployment.
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The increased amount of data generated by organizations, need for on time qualified information, streamlined business operations, and increased need for risk management are some of the other drivers influencing the growth of the global enterprise data management market. Further, increasing demand from small and medium sized industries is a major trend influencing the market.
However, the data silos, data quality and data address validation issues, are some of the challenges hindering the growth of the Enterprise Data Management Market. A data silo is a repository of fixed data that remains under the control of one department, which is used to store an organization’s data, hence reducing the need for data management. Data silos are facing increasing disapproval not only because they obstruct productivity, but also due to their negative impact on data integrity.
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