DATUM, a leading provider of data governance and stewardship software, has been recognized by MarketsAndMarkets™ as a major vendor of data governance across a global market. The recent report "Data Governance Market by Application (Incident Management, Process Management, Compliance Management, Risk Management), Business Function, Component, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™ estimates the current 2018 data governance market of USD 1.31 Billion to grow to USD 3.53 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. According to MarketsAndMarkets™ “North America is expected to hold the largest market size and continues to dominate the global market from 2018 to 2023”.
“We believe Data Governance is fundamental to Data Value. It is satisfying to see the predicted growth in this market as it confirms the importance of data governance for digital transformation and the priority this category is given in the enterprise” says President & CEO, Will Crump.
MarketsAndMarkets™ highlights that “the ongoing transformations in the retail and eCommerce industry vertical generates large volumes of data, which is ultimately driving the need for efficient data governance solutions. High-quality, properly managed data is crucial for decision-making across the retail and eCommerce industry vertical, as it helps decision makers with product pricing, campaign management, sales optimization, risk management, and product management.
DATUM is known for their outcome focused approach to data governance with a core capability of determining data value for the enterprise. Manufacturing and supply-chain heavy industry verticals are well-represented in the DATUM customer portfolio as the complexity of data and systems is high and there is a high dependency on operational excellence. The DATUM Information Value Management® platform is recognized for its business friendliness, collaboration and visualization that articulates what data matters, and why.
“What we have learned from our customers is not as much what they need a tool to do but what solution they need in order to achieve their business outcomes”, said President & CEO, Will Crump.