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Data Wrangling Market to Expand by USD 1.49 Billion from 2024-2028, Benefits of Data Wrangling Solutions Drive Revenue, Report on AI-Redefined Market Landscape – Technavio

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NEW YORK, Nov. 7, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global data wrangling market  size is estimated to grow by USD 1.49 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  14.8%  during the forecast period. Numerous benefits provided by data wrangling solutions is driving market growth, with a trend towards rising need of technology in healthcare sector. However, lack of awareness of data wrangling tools among smes  poses a challenge.Key market players include Altair Engineering Inc., Alteryx Inc., Dataiku Inc., DataRobot Inc., Dell Technologies Inc., eXalt Solutions Inc., Hitachi Ltd., Ideata Analytics, Impetus Technologies Inc., Innovative Routines International (IRI) Inc., International Business Machines Corp., Medallia Inc., Microsoft Corp., Oracle Corp., Rapid Insight Inc., SAS Institute Inc., Teradata Corp., TIBCO Software Inc., Wipro Ltd., and Zoho Corp. Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Sector (BFSI, Government and public sector, Healthcare, and Others) and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Altair Engineering Inc., Alteryx Inc., Dataiku Inc., DataRobot Inc., Dell Technologies Inc., eXalt Solutions Inc., Hitachi Ltd., Ideata Analytics, Impetus Technologies Inc., Innovative Routines International (IRI) Inc., International Business Machines Corp., Medallia Inc., Microsoft Corp., Oracle Corp., Rapid Insight Inc., SAS Institute Inc., Teradata Corp., TIBCO Software Inc., Wipro Ltd., and Zoho Corp. Pvt. Ltd.

Key Market Trends Fueling Growth

The healthcare sector encounters numerous challenges, such as managing disease outbreaks and enhancing operational efficiency. With an influx of daily data, including patient details, medical history, treatment records, and payment information, healthcare organizations require solutions to prepare, clean, and format this data for insightful analysis. Data wrangling plays a vital role in this process by transforming raw data into structured formats. During the COVID-19 pandemic, data wrangling tools became essential for cleaning and organizing patient data, enabling quick decision-making. As healthcare adopts advanced technologies like AI and machine learning, the demand for data wrangling solutions increases, as these technologies rely on clean, structured data for accurate predictions and insights. The growing focus on personalized medicine and patient-centric care necessitates integrating diverse data sources, further emphasizing the importance of data wrangling for managing complexity and improving decision-making, patient outcomes, and healthcare system efficiency. As healthcare data volume expands, data wrangling’s role in driving innovation and quality care will continue to grow, positively impacting the market’s growth during the forecast period. 

In today’s digital world, businesses are generating and collecting massive amounts of data. This data needs to be processed and transformed into valuable insights to drive business growth. Trends like digital transformation, big data analytics, and e-commerce are leading the charge in data usage. Data integration, structuring, and transformation are key areas of focus for professional services and consulting firms. Data security is paramount, with encryption, access controls, and data protection laws ensuring data privacy. Technology hubs are emerging as centers for innovation in data munging, information mapping, and enterprise mobility. Industries like healthcare, telecommunications, financial services, and insurance are leveraging cloud solutions for data analysis. Data quality, edge computing, and financial services are also seeing significant investment. Anomalies in data require attention, with cloud-based analytics and data lineage tools helping to identify and address them. Metadata management, data cataloging, and data cleaning are essential for data unification and self-service data preparation. Big data, digitalization, finance, IoT devices, smart cities, and life sciences are all driving the need for data analysis tools. Data loss prevention is a critical concern, with firms investing in solutions to mitigate risk. Overall, the data wrangling market is thriving, with innovation and growth expected to continue. 

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Market Challenges

•         Data wrangling refers to the process of extracting valuable insights from raw data using advanced technologies like machine learning and big data analytics. Small and medium-sized enterprises (SMEs) primarily use conventional Extract, Transform, Load (ETL) tools due to their user-friendly interface and affordability. However, these tools lack the necessary functionality for SMEs to fully adopt data wrangling technology, limiting its growth potential. Moreover, in developing countries such as China and India, where there is a high concentration of businesses, the lack of awareness about data wrangling techniques among SMEs will hinder market expansion during the forecast period.

•         In today’s business world, managing data effectively is crucial for success. However, data wrangling presents several challenges for organizations. These include information mapping to connect data from various sources, enterprise mobility to access data on-the-go, ensuring data quality, and implementing edge computing for real-time analysis. Industries like financial services, insurance, and life sciences face unique data challenges. Cloud solutions offer scalability and flexibility, but data loss and security are major concerns. Data analytics tools help make sense of big data, but data lineage, metadata management, and data cataloging are essential for maintaining data accuracy. Self-service data preparation is important for enabling business users, while AI and machine learning require data cleaning and unification. Data management, data preparation, and real-time analysis are key for IT and telecom, while data governance is crucial for large enterprises and SMEs alike. IoT devices and smart cities generate vast amounts of data, requiring multi-cloud strategies and hybrid cloud solutions. Data analytics is the end goal, but data loss, data security, and data privacy are ongoing challenges that must be addressed.

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Segment Overview 

This data wrangling market report extensively covers market segmentation by

Sector 1.1 BFSI1.2 Government and public sector1.3 Healthcare1.4 OthersGeography 2.1 North America2.2 Europe2.3 APAC2.4 Middle East and Africa2.5 South America

1.1 BFSI-  The BFSI sector’s reliance on data wrangling has grown significantly due to the digitization of services and the resulting generation of large volumes of data. Data wranglers optimize operational processes and provide insights to agents for effective online customer interaction. They reduce data preparation time by more than 15 times, enabling a 360-degree client view. With massive data generation, proper management is crucial to prevent unwanted events like data breaches. The Royal Bank of Scotland, serving over 30 million customers globally, uses data wranglers to extract insights from unstructured data, particularly web chats. These factors are driving the demand for data wrangling solutions in the BFSI sector, ensuring secure and efficient data management.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Data Wrangling Market is experiencing significant growth due to the increasing volume, variety, and velocity of data being generated across industries. Data loss and theft continue to be major concerns, driving the need for data management and security solutions. Artificial intelligence and machine learning are revolutionizing data analysis by automating data preparation and enabling real-time analysis. Cloud-based solutions and multi-cloud strategies are becoming increasingly popular for data management, offering flexibility and scalability. Data munging, information mapping, and data cleaning are essential data preparation tasks for ensuring data quality. Finance, insurance, and IoT devices are generating massive amounts of data, making data unification and self-service data preparation crucial. Big data and real-time analysis are transforming industries like finance and smart cities, requiring edge computing to process data at the source. Data analytics is at the heart of these trends, enabling businesses to gain valuable insights and make informed decisions.

Market Research Overview

The Data Wrangling Market is experiencing significant growth due to the increasing demand for Artificial Intelligence (AI) and Machine Learning (ML) applications in Data Analytics. Businesses are focusing on Data Management and Preparation to derive valuable insights from their data. Real-time analysis is becoming essential for Large Enterprises and SMEs in IT and Telecom, Finance, Healthcare, Telecommunications, E-commerce, and other sectors. On-premises and Cloud-based solutions are popular for Data Management, with Multi-cloud strategies and Hybrid cloud gaining traction. Data Security and Governance are top priorities, with Digital Transformation driving the adoption of Big Data Analytics, Data Integration, and Data Transformation. Data Structuring, Professional Services, and Consulting are crucial for Data Encryption, Access Controls, and Data Protection Laws. Technology hubs are investing in Data Analytics Tools and Edge Computing to support Digitalization and IoT devices. Data Quality, Anomalies, and Cloud-based Analytics are key areas of focus, along with Data Lineage, Metadata Management, Data Cataloging, Data Cleaning, and Data Unification. Self-service Data Preparation and Big Data are transforming industries such as Life Sciences, Finance, and Insurance. Data Loss prevention is a growing concern, with a need for advanced Data Analytics and AI-driven solutions. The market is expected to continue growing, driven by the increasing importance of Data in the Digital Age.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

SectorBFSIGovernment And Public SectorHealthcareOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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How the Top 10% of CTOs Drive Meaningful Business Growth

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Only a shocking 10% of CTOs will drive value for their organizations, according to a recent Forester prediction. By understanding how the top 10% of CTOs have reshaped their role, this article discusses how aspiring trailblazers can shift their perspectives and priorities to join the elite ranks of tech leaders.

SAINT PAUL, Minn., Nov. 7, 2024 /PRNewswire-PRWeb/ — Forrester experts have made a prediction that should be a resounding wake-up call for tech leaders: only 10% of CTOs will actually drive business growth. For the other 90%, the risk is clear—CTOs who fail to demonstrate their value will quickly be replaced by ones who can.

Elite tech leaders serve as thought leaders and pioneers within their own field. As such, the top 10% of CTOs today focus on claiming competitive advantages through the use of emerging technologies. – Inkit CEO Michael McCarthy

What exactly defines this new breed of tech leader, and what are these elite CTOs doing differently to drive growth? Here are the three essential practices that differentiate the good from the great CTOs today.

They Focus on Scale

Successful CTOs align their strategies with overall business goals, using automation and integrated technologies to scale other departments. By implementing centralized tools that standardize data, unify analytics, and automate tedious processes like lead scoring, follow-ups, relationship management, and contract management, elite CTOs are empowering RevOps, sales, and marketing teams to optimize every step of the sales funnel, reach more potential leads, and close deals faster.

However, for the top 10% of CTOs, successfully driving growth is not a solo endeavor. They know that leadership buy-in determines future outcomes for any digital transformation initiative.

They Work Closely with Other CxOs

According to Gartner, by co-leading initiatives with their fellow CxOs, CTOs are twice as likely to meet or exceed expected ROIs for digital technology investments. This involves creating cross-department teams that share responsibilities for technology rollouts, pool resources, and lend vertical-specific knowledge to ensure the most efficient and valuable outcomes. Co-leadership structured engagements also have the potential to uncover new areas for improvement and enhance organizational collaboration and culture.

While working with CxOs unlocks new opportunities within these non-tech domains, elite tech leaders serve as thought leaders and pioneers within their own field. As such, the top 10% of CTOs today focus on claiming competitive advantages through the use of emerging technologies.

If There’s New Tech, They’re Already Using It

Another prediction from the Forrester report indicates that enterprise AI initiatives will boost productivity and creative problem-solving by 50% in 2024. Similarly, Generative AI has become a popular tool to simplify user interfaces and serve as a digital assistant within complicated tools. CTOs are hurrying to adopt AI before their competitors, and businesses today are quick to announce their implementation of next-gen technologies that claim to improve their products with new, dazzling features—but the top 10% of CTOs have assessed these new technologies well before the rest.

Document generation (i.e., DocGen) and digital signatures are another technology on the radar for many top CTOs. Regarded as a vital tool for automating digital workflows, DocGen empowers organizations to create, share, sign, and retain documents at scale. DocGen tools also help CTOs to automatically meet compliance requirements for security, data privacy, and retention policies across the entire organization with minimal training required.

Finally, for CTOs in retail, finance, cryptocurrency, and logistics, blockchain and Internet of Things (IoT) technology allow for secure, autonomous machine-to-machine transactions that reduce operational complexity and open new avenues for innovation in smart automation.

Join the Elite CTOs Driving Business Growth

Top CTOs drive growth by strategically aligning advanced technologies with business goals through cross-functional teamwork. By evaluating emerging technologies like Generative AI, document generation, automation, and more, the top 10% of CTOs are successfully accelerating the pace of growth, innovation, and collaboration for their organizations.

About Inkit

Inkit is the only Secure Document Generation (SDG) software that allows users to generate, sign, and retain documents in total privacy. Scale your workflows using our DocGen automation solution to create documents and forms using custom templates and data sources with our API. Elevate the security of your legally-binding documents with digital signatures. Protect agreements with advanced encryption and authenticity certificates to streamline processes and ensure peace of mind. Get the privacy and automation your team needs to optimize records management and compliance. Create disappearing documents that automatically expire based on predesignated parameters. Connect seamlessly with your favorite apps to generate Microsoft Word, PowerPoint, Excel, PDF, and HTML documents. Experience an all-inclusive solution for ultimate file control and security. Inkit is privately owned and headquartered in St. Paul, Minnesota, with offices in San Juan, Puerto Rico, and Washington, D.C.

Media Contact

Patrick Lethert, Inkit, 1 8008995773, patrick@inkit.com, https://www.inkit.com

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LG Energy Solution to Supply Next-Generation 4695 Cylindrical Batteries to Rivian

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Supply agreement will last over five years and total 67GWh.4695 cells, offering a long range and high safety, will be produced in the U.S.Batteries will power Rivian’s R2 model for the North American market.

SEOUL, South Korea, Nov. 7, 2024 /PRNewswire/ — LG Energy Solution (KRX: 373220) today announced that LG Energy Solution Arizona, a fully owned subsidiary of LG Energy Solution, has signed a supply agreement with Rivian, a U.S.-based automotive manufacturer.

Under the agreement, LG Energy Solution will provide Rivian with its advanced 4695 cylindrical batteries for over five years, totaling 67GWh.

With a diameter of 46mm and height of 95mm, the next-generation 4695 cylindrical battery is recognized for offering both a long range and high safety. It features over six times the capacity of the existing 2170 cylindrical batteries. Its larger size enables higher energy density, improved space efficiency, and enhanced safety, which is attracting industry-wide attention.

Within the first year of production, the batteries will be eventually manufactured at LG Energy Solution’s stand-alone plant in Arizona, and delivered to Rivian’s facility in Normal, Illinois, for use in the R2 model for the North American market.

LG Energy Solution has been advancing its cylindrical battery technology over the past 20 years, supported by its extensive manufacturing experience and broad patent portfolio.

The supply agreement with Rivian is expected to further strengthen LG Energy Solution’s presence in the U.S. market and its plans to actively respond to the IRA by developing and supplying competitive battery cells in a timely manner while expanding into new markets.

Given the strong interest from automakers in its 46-series cylindrical batteries, LG Energy Solution also expects to extend its leadership in this growing sector.

“Due to the dynamic nature of the current EV market, an increasing number of global automakers are demonstrating a strong preference for a diverse range of battery form factors,” said David Kim, CEO of LG Energy Solution. “This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its client base within the cylindrical battery segment.”

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

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PayrollOrg’s Chapter Leadership Summit to Equip Payroll Chapter Leaders with Tools for Success

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LAS VEGAS, Nov. 7, 2024 /PRNewswire/ — PayrollOrg (PAYO) will provide local chapter leaders with the essential tools and guidance they need to ensure the ongoing success of their chapters at the Chapter Leadership Summit, November 7 – 8 in Las Vegas, Nevada.

“Supporting our chapter leaders is crucial to the growth and sustainability of local chapters,” said Dan Maddux, executive director of PayrollOrg. “The Chapter Leadership Summit is designed to not only provide practical tools and strategies but also foster a strong network of motivated leaders who can inspire their teams and communities.”

Participants will have the unique opportunity to connect with fellow leaders, exchange ideas, and develop strategies to motivate their chapter members. Tailored educational sessions will offer specialized training on critical topics such as fiscal responsibility, general chapter operations, and event planning. These sessions will be led by guest speakers with expertise in chapter management and leadership development.

The conference will be held at MEET Las Vegas in downtown Las Vegas. Visit PAYO online to view the full conference agenda. The event is sponsored by Wisely by ADP.

PayrollOrg is the leader in payroll education, publications, and training. Visit PAYO online at www.payroll.org.

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