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What can we expect from data prep and data analysis in 2022

January 14, 2022 4:40 PM Image Credit: Getty Images Did you miss a session from the Future of Work Summit? Head over to our Future of Work Summit on-demand library to stream. While modern organizations generate astronomical amounts of data every day, many still struggle to make sense of it all. However, that’s gradually starting to change,…

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While modern organizations generate astronomical amounts of data every day, many still struggle to make sense of it all. As more data prep and analytics companies emerge to help non-specialist users translate raw data into actionable insights, this is slowly changing.

In fact, researchers estimate that the Data Preparation Tools Market size will grow at a CAGR of over 20% to reach a total value of $13. 15 billion by 2028, with organizations having a range of accessible data analytics providers to choose from, such as Alteryx, IBM Watson Studio, TIMi Suite, and Incorta.

With the data analytics and preparation market in a state of growth, in 2022, more companies those data analytics providers will invest in will develop solutions that give decision makers better transparency over their operational data.

Alteryx acquires data preparation provider Trifacta for $400 million

Data preparation provider Alteryx announced it invested $400 million to acquire visual data engineering cloud platform Trifacta.

By purchasing Trifacta, Alteryx plans to use its cloud platform to help customers create a more robust data pipeline that includes greater profiling and preparation capabilities.

It is worth noting that this acquisition follows two recent acquisitions: Hyper Anna, a cloud platform to deriv AI-driven insights and Lore IO which is a data modeling tool.

2021 was a successful year for Trifacta, with the company announcing an annual recurring revenue of $579 million, an increase of 29% from the year before.

The organization’s market success is based on its ability to stand out from the rest by offering non-developers access to valuable insights.

IBM acquires Envizi, mParticle acquires Indicative

There have been many other notable acquisitions in the data analysis and preparation space. At the start of this year, IBM announced the acquisition of environmental performance management and data analytics provider Envizi for an undisclosed amount.

The acquisition will enable IBM to create more effective supply chain management solutions, while offering greater cover of Environmental, Social, Governmental (ESG) metrics.

” Companies need to be able to turn data into actionable insights that enable them to make better decisions and drive sustainable progress. Envizi’s software gives companies a single source for understanding and analyzing emissions data across their entire business operations. It also dramatically accelerates IBM AI Technologies’ growing arsenal of AI technologies to help businesses create more sustainable supply chains,” stated Kareem Yusuf in the announcement.

In future, IBM plans to integrate Envizi into some of its existing solutions, including IBM Maximo and IBM sterling, IBM Environmental Intelligence Suite and IBM Turbonomic.

Similarly, shortly after raising $150 million in Series E funding in November, customer data infrastructure provider mParticle announced it had acquired customer journey analytics platform Indicative.

The company has completed the a

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