Precisely Named As A Leader
Precisely is proud to have been named a Leader in the IDC MarketScape: Worldwide Data Catalog Software 2022 Vendor Assessment (August 2022, IDC # US48395622).
The IDC MarketScape report provides a comprehensive assessment of data catalog software applications for enterprise customers. In it, the authors recommend key criteria that companies should consider when selecting a data catalog solution.
The Rising Importance of Data Catalogs
As the volume, variety, and velocity of data continue to increase, enterprises must grapple with the ever-expanding complexity of their data environments. Today, businesses collect, store, and manage information in comprehensive business applications such as ERP and CRM systems, as well as managing large numbers of homegrown databases, cloud-based repositories, third-party data stores, and even spreadsheets stored on users’ local hard drives.
To make the most effective use of data, organizations must first understand where their data is located, where it came from, how clean or dirty it is, and what it means to their business. Increasingly, they are turning to data catalog vendors, including Precisely, to help them locate, organize, access, and evaluate high volumes of data in a centralized location.
Read the Assessment
Precisely is proud to be recognized as a leader in the data catalog space for our strategic approach to data integrity, which focuses on helping enterprises create real business value. To learn more, get your free excerpt and see how a data catalog solution can help your organization.
Emily Washington, Senior Vice President of Product Management at Precisely, puts it this way: “Data catalog solutions have gone from a ‘nice-to-have’ to a ‘must-have’ in the arsenal of data integrity capabilities. In order to achieve trusted data, it is imperative that organizations take a close look at how they are deriving trustworthy business intel from their catalog. A centralized, single source of data knowledge aids in delivering business context that helps leaders make confident decisions.”
Stewart Bond, Vice President, Data Integration and Data Intelligence Software and lead analyst for the IDC MarketScape vendor assessment notes: “Data catalogs are central to the collection and activation of data intelligence. Gathering and curating intelligence about data is not trivial in highly distributed, diverse, and dynamic modern data environments. Modern data catalogs are characterized as automated and intelligent in the collection, curation, and analytics of technical and business metadata, across many different types of data formats and organization technologies, in hybrid and multi-cloud environments. Data catalogs also enable the capture of tribal knowledge through crowdsourcing.”
Precisely: The Data Integrity Company
Data cataloging is a central component of the recently announced Precisely Data Integrity Suite, with Precisely Data360 Govern as the embedded common data catalog for its Data Integrity Foundation. Precisely enables each module to build on metadata previously gathered by other modules and the enterprise’s source systems, combining seamlessly to deliver maximum value to the customer.
The IDC MarketScape assessment report noted some key strengths that Precisely brings to the table. According to the report, “Precisely offers customers a unique opportunity to improve the integrity of data with software, strategic services, and third-party data that can be used to enrich and cleanse internal data. Precisely’s broader platform portfolio includes data integration, transformation, cleansing, and geospatial location capabilities. Available strategic data services provide customers with the opportunity to build out a data strategy leveraging all parts of the portfolio without having to rely on a third-party services provider.”
The IDC MarketScape noted, “Precisely has a unique capability to relate individual data elements to business process models and estimate the business value of data elements in monetary terms,” the report’s authors commented.
Infogix, which was acquired by Precisely last year, was named a Leader in the IDC MarketScape: Worldwide Data Catalog Software 2020 Vendor Assessment.
Data360 Govern: Notable Strengths
Data360 Govern uses machine learning to automate many of the tedious tasks involved in data cataloging, including metadata discovery, ingestion, translation, enrichment, and the creation of semantic relationships between metadata. This next-generation approach helps to propel enterprise metadata management projects forward by allowing business users to participate in understanding, enriching, and using metadata to inform and further their data and analytics initiatives.
Data catalogs are increasingly being used to uncover valuable intelligence that enables revenue growth, risk management, and cost control opportunities. Data users and consumers are demanding native-language search capabilities, with advanced semantic tags to easily search, understand, and access data assets. They need data that is more accurate, consistent, and contextualized for business decisions based on data with maximum data integrity.
Data360 Govern is designed to generate tangible business value and deliver results quickly. Accelerated adoption is an asset that particularly sets Precisely’s Data360 Govern product apart from the competition, the IDC MarketScape assessment noted. “Precisely’s data catalog comes with a prebuilt metamodel that allows the solution to adapt to the customer’s processes and language, reducing the time needed to onboard new users and thus accelerating adoption,” the report stated.
The authors of the IDC MarketScape assessment also. noted an interesting fact about Precisely, “Charles River Development, a State Street Company, has selected Precisely Data360 as its data catalog in its customer-facing State Street Alpha Data Platform (ADP), a solution to help investment managers build private market portfolios. Charles River’s cloud-deployed front-office technology together with State Street’s middle-office and back-office capabilities form the foundation of State Street Alpha, a front-to-back platform from one single provider. Alpha enables firms to gain faster risk and investment insights, better serve their clients, and bring new products to market faster.”
Precisely is proud to be recognized as a leader in the data catalog space for our strategic approach to data integrity, which focuses on helping enterprises create real business value. To learn more, get your free excerpt from the IDC MarketScape: Worldwide Data Catalog Software 2022 Vendor Assessment and see how a data catalog solution can help your organization.