There’s a new Data Discovery Market Report out by MarketsandMarkets, evaluating where the sector is going globally and forecasting out to 2025, and we are very proud that Exonar has been identified as an Emerging Leader in the space. So firstly, big thanks to MarketsandMarkets for recognising and including us!
Key players were profiled and analysed based on strength of product portfolio and business strategy excellence, and placed on a quadrant, with Exonar to the right of ‘Emerging Leaders’ and nudging close to the top right-hand ‘Star’ part of the matrix.
The MarketsandMarkets report is comprehensive, at 305 pages, and has highlighted some of the key market drivers that we’ve also observed when working with customers and prospects. Namely the growing need to discover sensitive structured and unstructured data in order to meet global privacy regulations, the need for improved security compliance and governance in data, and the importance of data utilization to drive value for organisations.
The report also identifies that the security and risk management segment particularly is projected to account for a major share in the data discovery market. We’ve seen that too, with so many of our customers focused on how to manage different types of data-related risk, particularly the unknowns in unstructured (and often legacy) ‘dark’ data. They are focusing on gaining visibility of, and securing data to maintain data confidentiality, integrity, and availability across the IT infrastructure and reduce the impact of cyber threats and breaches.
Democratising data and the use of it for insights and analysis is highlighted as a key use case by MarketsandMarkets, particularly in the Healthcare and Life Sciences sector. It’s a key focus for our own customers as using Exonar they are able to discover and use unstructured data to drive value and competitive advantage for their organisations.
Driving value from unstructured data is made possible with data discovery technology, and the journey towards ‘Information Intelligence’ typically follows the arc shown in the diagram below.
Step 1: Gaining visibility and control of legacy data; understanding what data the organisation has, where it is, who has access to it, and adding classifications.
Step 2: Finding scalable ways to pro-actively manage data at scale to minimise long-term risks by integrating data discovery with information protection and remediation technologies, establishing operational ownership and accountability for data and ensuring the organisation is not generating the legacy data of tomorrow.
Step 3: Extracting value from data and placing it ‘in the hands’ of the business by creating a single view of inter-connected information across the organisation, surfacing insights to enable decision making and driving competitive advantage and transformation for the organisation.
As Exonar CEO, Danny Reeves says,
“Today every company on earth is a data company. The ability to see all data, in absolute detail, in one place, regardless of source and type, is the one constant that enables us all to maximise the true value of our data strategies."
Want to find out more about what’s in the MarketsandMarkets Data Discovery report? Just ping us here.