The media and entertainment industry has aggressively transformed itself from print media to digital media. Increasing focus on digitalization and insights-driven marketing definitely advocates for proper data quality program that will ensure operational efficiencies in this sector. Media companies are tracking clicks, views, comments, and shares to gain customer insights and provide more personal content to digital savvy audience.
The growth of data quality tools will be significantly leveraged by the media and entertainment industry as this industry gears up to deliver new ways to leverage big data to understand and connect with the audience. Gaining insights into the customers’ taste enables media houses to take better decisions, improve product development, and formulate strategies on effective campaign designing.
Frequently Asked Questions
What is the expected CAGR for the Data Quality Software market?The overall data quality tools market is expected to grow at a CAGR of 17.7% from 2017 to 2022.
What is the purpose of deploying data quality solutions?Data quality software refers to a wide range of tools and services specifically designed to deliver comprehensive and precise data to organizations. Data quality software vendors offer a broad range of functions and capabilities, which include data cleansing, profiling, parsing, monitoring, and enrichment. The data quality software allow organizations to comprehend, standardize, and monitor the data over the course of its lifecycle, ensuring continuous operation within the system. Ensuring data quality should be a paramount concern to the authorities, as a good dataset within an organization can be a key enabler to gain competitive advantage in the market by conducting better analysis and craft business strategies that will have long-term implication on realizing organizational goals. The 6 key considerations of data quality, which every enterprise should seek for, include consistency, conformity, completeness, uniqueness, accuracy, and integrity of data.
Who would need to deploy Data Quality solutions?Data quality solution providers, Governance, Risk Management, and Compliance (GRC) solution providers, Consulting companies, Government agencies, Risk assessment service providers, Investors and venture capitalists, Value-added resellers, Small and Medium-Sized Enterprises (SMEs) and large enterprises, Third-party providers, Consultants/consultancies/advisory firms, Support and maintenance service providers and Technology providers etc.
What are the major application areas where Data Quality Tools prove to be effective?Data quality tools are generally effective in four areas: data cleansing, data integration, master data management, and metadata management. The tools generally identify errors with the help of algorithms and lookup tables. They also helps in managing multiple tasks, that include validating contact details and mailing addresses, data mapping, data consolidation associated with ETL tools, data validation reconciliation, sample testing, data analytics etc.