Illustrations by Timo Lenzen
I n a city brimming with skyscrapers, One Vanderbilt still manages to stand out. At 1,401-feet, the two-year-old office tower is one of the tallest buildings in Manhattan. It’s also one of the greenest. The building was constructed with 90 percent recycled steel rebar. It has a state-of-the-art cogeneration system that keeps its energy use low and a 90,000-gallon rainwater collection system that recycles water for irrigation and cooling. As a result, it boasts one of the highest levels of LEED certification. “We see environmental sustainability as a social obligation. It’s not just a trend,” says Laura Vulaj, senior vice president of hospitality and sustainability at SL Green, the real estate company that owns the tower.
While One Vanderbilt is well ahead of the pack on sustainability, Vulaj knows that she and her team are nonetheless going to have to pick up the pace. In New York City, a rigorous new climate law is requiring landlords to dramatically reduce their environmental impact. That comes on top of state and federal regulations, United Nations targets, as well as requests from board members, investors, and potential tenants for data on environmental, social, and governance (ESG) performance.
Fulfilling those demands is particularly complex for a landlord like SL Green, which has hundreds of tenants and a vast portfolio of properties. According to Vulaj, requests for environmental compliance data have increased tenfold in accurate years, and each new framework requires different reporting methodologies. So today, getting a full picture of SL Green’s environmental footprint, and figuring out how to shrink it, is a tall order. It requires aggregating and analyzing a mountain of data from a variety of sources across multiple buildings. “There’s energy data. There’s water data. There’s waste data,” Vulaj says. “Data is pouring in for every building, and it’s living in so many different areas. You get data fatigue.”
Vulaj’s data challenges are shared by leaders at many companies focused on sustainability. This year, according to a poll conducted by the IBM Institute for Business Value, more than half of CEOs ranked sustainability among their top concerns. Yet 44 percent of CEOs said they lack the ability to translate sustainability data into insights that help them meet environmental targets. “It’s coming to a head,” says Kareem Yusuf, Ph.D., general manager of IBM Sustainability Software. “Society cares a lot more, investors are using this to inform where they place their dollars, and regulation is only going to become more apparent.”
Faced with such challenges, companies like SL Green often come to IBM for help. “Often the conversation starts with, ‘I need to get a handle on this,” says Yusuf. “‘How can I make sense of all this data? I can’t do it with spreadsheets anymore.’” Yusuf’s solution for these organizations is simple: AI. “Machine learning can look at data, bring it together, and make sense of it—and then, most importantly, place it in front of you in a way that allows an informed, intelligent decision to be made,” Yusuf says. “It’s operationalizing sustainability.”
More and more companies are following this advice. According to an IBM study, two-thirds of IT leaders say their company is currently planning or already in the process of using AI to manage the complexity of data for sustainability. According to Witold Henisz, vice dean and faculty director of the Environment, Social and Governance Initiative at the Wharton School, that’s a huge shift. In years past, many companies kept such minimal sustainability data that they could effectively relegate it to a single spreadsheet column. Now, he says, the scale of the sustainability data companies are collecting requires more sophisticated technology. “This is a big data problem,” he says.
Bjarne Jørgensen, executive director of asset management and operations at Danish civil infrastructure operator Sund & Bælt, came to understand that problem well in 2020, when he began looking into how to preserve the Great Belt (Storebælt) Link, an 11-mile system of bridges and tunnels connecting the Danish islands Zealand and Funen. When it was built in the 1990s, Jørgensen says, the system looked indestructible. But it turned out to be no match for the ravages of the North Sea and climate change, which have deteriorated the system with fierce winds and tidal surges. “Our focus was on prolonging the lifetime of the bridge, which also reduces its carbon footprint, because if you have to rebuild something, it releases more carbon,” Jørgensen says.
To preserve the system, Sund & Bælt needed to know its health in real time. This meant processing between 12,000 and 14,000 data points collected from moisture-detecting sensors and a fleet of drones inspecting 300,000 square meters of concrete. And the data itself could only go so far. “Data doesn’t necessarily Boost your decisions,” says Jørgensen. “You have to see into it and find the essence in order to use it.” It’s a common complaint. “The promise of big data analytics is that we’re going to gain insight, which is going to help performance and address the climate transition,” says Henisz. “But it’s not a crystal ball. A lot of analysis has to be done.”
That analysis, in the case of the Great Belt Link, relied heavily on AI. Using IBM Maximo Civil Infrastructure and Maximo Application Suite for intelligent asset management helped Sund & Bælt generate penetrating, real-time analysis on the condition of the bridges, tunnels, and other critical infrastructure components. Harnessing the power of AI to analyze visual inspection data on rust, corrosion, displacement, and stress, alongside maintenance records, design documents and 3-D models, provides Jørgensen’s team with crucial insights not only on the current health of the bridge but also on the potential impact of changing environmental conditions.
The results have been game-changing for the team managing the Great Belt Link. IBM’s AI has accelerated and streamlined workflow processes, including the timing of inspections. It has also quickened the decision-making power of engineers in the field and allowed them to plan further ahead.
To its surprise, the Sund & Bælt team found that the Great Belt Link system, which had been expected to last 100 years, could significantly lengthen its lifespan using AI. “We now know that if we keep getting better information about the health of the concrete and steel, then we can reach 200 years,” says Jørgensen. Those extra hundred years will save the company the cost of new construction and reduce its carbon footprint by 750,000 tons, twice the mass of the Empire State Building—an achievement for both the business and the environment. “Thankfully, they go hand in hand,” Jørgensen says.
For SL Green, the promise of that win-win motivates the company’s ongoing pursuit of even more sustainable buildings. In the coming year, Vulaj says, the company will develop targets to achieve carbon neutrality at buildings like One Vanderbilt—both because the science demands it and because SL Green customers expect it. “Regardless of what the legal mandates are, we feel we have an obligation to reduce emissions and Boost the energy efficiency of our buildings,” she says. To ensure its success, SL Green is ditching its sea of spreadsheets and shifting to Envizi, an IBM software suite that will allow the company to manage all its ESG indicators—including energy use, carbon emissions, and environmental and social responsibility metrics—in one place, making it easier to analyze, operationalize, and report.
Once those systems are integrated, Vulaj hopes, One Vanderbilt will stand out even more in the New York City skyline for its green bona fides. But to create a truly sustainable world, buildings like One Vanderbilt will have to become more commonplace, which means more companies will have to supercharge their sustainability initiatives. According to Henisz, companies are currently spending $35 billion per year on financial data, but only $1 billion on ESG data. On one hand, he says, you could look at those figures and focus on the fact that ESG data is just 3 percent of the total spend on financial data. Or you could recognize, as he does, that “there’s a lot of runway to do more.”
Milan Shetti, President and CEO, Rocket Software.
With the rising popularity of cloud-based solutions over the last decade, a growing misconception in the professional world is that mainframe technology is becoming obsolete. This couldn’t be further from the truth. In fact, the results of a accurate Rocket survey of over 500 U.S. IT professionals found businesses today still rely heavily on the mainframe over cloud-based or distributed technologies to power their IT infrastructures—including 67 of the Fortune 100.
Despite the allure surrounding digital solutions, a accurate IBM study uncovered that 82% of executives agree their business case still supports mainframe-based applications. This is partly due to the increase in disruptive events taking place throughout the world—the Covid-19 pandemic, a weakened global supply chain, cybersecurity breaches and increased regulations across the board—leading companies to continue leveraging the reliability and security of the mainframe infrastructure.
However, the benefits are clear, and the need is apparent for organizations to consider modernizing their mainframe infrastructure and implementing modern cloud-based solutions into their IT environment to remain competitive in today’s digital world.
Overcoming Mainframe Obstacles
Businesses leveraging mainframe technology that hasn’t been modernized may struggle to attract new talent to their organization. With the new talent entering the professional market primarily trained on cloud-based software, traditional mainframe software and processes create a skills gap that could deter prospective hires and lead to companies missing out on top-tier talent.
Without modernization, many legacy mainframes lack connectivity with modern cloud-based solutions. Although the mainframe provides a steady, dependable operational environment, it’s well known that the efficiency, accuracy and accessibility modern cloud-based solutions create have helped simplify and Boost many operational practices. Mainframe infrastructures that can’t integrate innovative tools—like automation—to streamline processes or provide web and mobile access to remote employees—which has become essential following the pandemic—have become impractical for most business operations.
Considering these impending hurdles, organizations are at a crossroads with their mainframe operations. Realistically, there are three roads a business can choose to journey down. The first is to continue “operating as-is,” which is cost-effective but more or less avoids the issue at hand and positions a company to get left in the dust by its competitors. A business can also “re-platform” or completely remove and replace its current mainframe infrastructure in favor of distributed or cloud models. However, this option can be disruptive, pricey and time-consuming and forces businesses to simply toss out most of their expensive technology investments.
The final option is to “modernize in place.” Modernizing in place allows businesses to continue leveraging their technology investments through mainframe modernization. It’s the preferred method of IT professionals—56% compared to 27% continuing to “operate as-is” and 17% opting to “re-platform”—because it’s typically cost-efficient, less disruptive to operations and improves the connectivity and flexibility of the IT infrastructure.
Most importantly, modernizing in place lets organizations integrate cloud solutions directly into their mainframe environment. In this way, teams can seamlessly transition into a more efficient and sustainable hybrid cloud model that helps alleviate the challenges of the traditional mainframe infrastructure.
Modernizing In Place With A Hybrid Cloud Strategy
With nearly three-quarters of executives from some of the largest and most successful businesses in agreement that mainframe-based applications are still central to business strategy, the mainframe isn’t going anywhere. And with many organizations still opting for mainframe-based solutions for data-critical operating systems—such as financial management, customer transaction systems of record, HR systems and supply chain data management systems—mainframe-based applications are actually expected to grow over the next two years. That’s why businesses must look to leverage their years of technology investments alongside the latest tools.
Modernizing in place with a hybrid cloud strategy is one of the best paths for an enterprise to meet the evolving needs of the market and its customers while simultaneously implementing an efficient and sustainable IT infrastructure. It lets companies leverage innovative cloud solutions in their tech stack that help bridge the skills gap to entice new talent while making operations accessible for remote employees.
The integration of automated tools and artificial intelligence capabilities in a hybrid model can help eliminate many manual processes to reduce workloads and Boost productivity. The flexibility of a modernized hybrid environment can also allow teams to implement cutting-edge processes like DevOps and CI/CD testing into their operations, helping ensure a continuously optimized operational environment.
With most IT professionals in agreement that hybrid is the answer moving forward, it’s clear that more and more businesses that work within mainframe environments will begin to migrate cloud solutions into their tech stack. Modernizing in place with a hybrid cloud strategy is one great way for businesses to meet market expectations while positioning themselves for future success.
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The “2022 Cost of a Data Breach Report” found 60 percent of studied organizations raised their product or services prices because of a breach. The report analyzed 550 organizations that suffered a data breach between March 2021 and March 2022, with research conducted by the Ponemon Institute.
IBM has studied data breaches in the United States the last 17 years. In 2021, the average cost of a breach was $4.24 million.
New to this year’s report was a look at the effects of supply chain compromises and the security skills gap. While organizations that were breached because of a supply chain compromise were relatively low (19 percent), the average total cost of such a breach was $4.46 million.
The average time to identify and contain a supply chain compromise was 303 days, opposed to the global average of 277 days.
The study found the average data breach cost savings of a sufficiently staffed organization was $550,000, but only 38 percent of studied organizations said their security team was sufficiently staffed.
Of note, the “Cost of Compliance Report 2022” published by Thomson Reuters Regulatory Intelligence earlier this month found staff shortages have been driven by rising salaries, tightening budgets, and personal liability increases.
The IBM study included 13 companies that experienced data breaches involving the loss or theft of 1 million to 60 million records. The average total cost for breaches of 50-60 million records was $387 million, a slight decline from $401 million in 2021.
For a second year, the study examined how deploying a “zero trust” security framework has a net positive impact on data breach costs, with savings of approximately $1 million for organizations that implemented one. However, only 41 percent of organizations surveyed deployed a zero trust security architecture.
Organizations with mature deployment of zero trust applied consistently across all domains saved more than $1.5 million on average, according to the survey.
Almost 80 percent of critical infrastructure organizations that did not adopt a zero trust strategy saw average breach costs rise to $5.4 million.
The study also found it doesn’t pay to pay hackers, with only $610,000 less in average breach costs compared to businesses that chose not to pay ransomware threat actors.
Organizations that fully deployed a security artificial intelligence and automation incurred $3.05 million less on average in breach costs compared to those that did not, the biggest saver observed in the study.
“Businesses need to put their security defenses on the offense and beat attackers to the punch,” said Charles Henderson, global head of IBM Security X-Force, in a press release announcing the study. “It’s time to stop the adversary from achieving their objectives and start to minimize the impact of attacks.”
‘Given its ability to boost innovation, productivity, resilience, and help organizations scale, IT has become a high priority in a company’s budget. As such, there is every reason to believe technology spending in the B2B space will continue to surpass GDP growth,’ says IBM CEO Arvind Krishna.
A strengthening IT environment that is playing into IBM AI and hybrid cloud capabilities means a rosy future for IBM and its B2B business, CEO Arvind Krishna told investors Monday.
Krishna, in his prepared remarks for IBM’s second fiscal quarter 2022 financial analyst conference call, said that technology serves as a fundamental source of competitive advantage for businesses.
“It serves as both a deflationary force and a force multiplier, and is especially critical as clients face challenges on multiple fronts from supply chain bottlenecks to demographic shifts,” he said. “Given its ability to boost innovation, productivity, resilience, and help organizations scale, IT has become a high priority in a company’s budget. As such, there is every reason to believe technology spending in the B2B space will continue to surpass GDP growth.”
[Related: IBM STARTS ‘ORDERLY WIND-DOWN’ OF RUSSIA BUSINESS]
That plays well with IBM’s hybrid cloud and AI strategy where the company is investing in its offerings, technical talent, ecosystem, and go-to-market model, Krishna said.
“Demand for our solutions remains strong,” he said. “We continued to have double-digit performance in IBM Consulting, broad-based strength in software, and with the z16 [mainframe] platform launch, our infrastructure business had a good quarter. By integrating technology and expertise from IBM and our partners, our clients will continue to see our hybrid cloud and AI solutions as a crucial source of business opportunity and growth.”
Krishna said hybrid clouds are about offering clients a platform to straddle multiple public clouds, private clouds, on-premises infrastructures, and the edge, which is where Red Hat, which IBM acquired in 2019, comes into play, Krishna said.
“Our software has been optimized to run on that platform, and includes advanced data and AI, automation, and the security capabilities our clients need,” he said. “Our global team of consultants offers deep business expertise and co-creates with clients to accelerate their digital transformation journeys. Our infrastructure allows clients to take full advantage of an extended hybrid cloud environment.”
As a result, IBM now has over 4,000 hybrid cloud platform clients, with over 250 new clients added during the second fiscal quarter, Krishna said.
“Those who adopt our platform tend to consume more of our solutions across software, consulting, and infrastructure, [and] expanding our footprint within those clients,” he said.
IBM is also benefitting from the steady adoption by businesses of artificial intelligence technologies as those businesses try to process the enormous amount of data generated from hybrid cloud environments all the way to the edge, Krishna said. An IBM study released during the second fiscal quarter found that 35 percent of companies are now using some form of AI with automation in their business to address demographic shifts and move their employees to higher value work, he said.
“This is one of the many reasons we are investing heavily in both AI and automation,” he said. “These investments are paying off.”
IBM is also moving to develop leadership in quantum computing, Krishna said. The company currently has a 127-qubit quantum computer it its cloud, and is committed to demonstrate the first 400-plus-qubit system before year-end as part of its path to deliver a 1,000-plus-qubit system next year and a 4,000-plus-qubit system in 2025, he said.
“One of the implications of quantum computing will be the need to change how information is encrypted,” he said. “We are proud that technology developed by IBM and our collaborators has been selected by NIST (National Institute of Standards and Technology) as the basis of the next generation of quantum-safe encryption protocols.”
IBM during the quarter also move forward in its mainframe technology with the release of its new z16 mainframe, Krishna said.
“The z16 is designed for cloud-native development, cybersecurity resilience, [and] quantum-safe encryption, and includes an on-chip AI accelerator, which allows clients to reduce fraud within real-time transactions,” he said.
IBM also made two acquisitions during the quarter related to cybersecurity, Krishna said. The first was Randori, an attack surface management and offensive cybersecurity provider. That acquisition built on IBM’s November acquisition of ReaQta, an endpoint security firm, he said.
While analysts during the question and answer part of Monday’s financial analyst conference call did not ask about the news that IBM has brought in Matt Hicks as the new CEO of Red Hat, they did seem concerned about how the 17-percent growth in Red Had revenue over last year missed expectations.
When asked about Red Hat revenue, Krishna said IBM feels very good about the Red Hat business and expect continued strong demand.
“That said, we had said late last year that we expect growth in Red Hat to be in the upper teens,” he said. “That expectation is what we are going to continue with. … Deferred revenue accounts for the bulk of what has been the difference in the growth rates coming down from last year to this year.”
IBM CFO James Kavanaugh followed by saying that while IBM saw 17 percent growth overall for Red Hat, the company took market share with its core REL (Red Hat Enterprise Linux) and in its Red Hat OpenShift hybrid cloud platform foundation. Red Hat OpenShift revenue is now four-and-a-half times the revenue before IBM acquired Red Hat, and Red Hat OpenShift bookings were up over 50 percent, Kavanaugh said.
“So we feel pretty good about our Red Hat portfolio overall. … Remember, we‘re three years into this acquisition right now,” he said. “And we couldn’t be more pleased as we move forward.”
When asked about the potential impact from an economic downturn, Krishna said IBM’s pipelines remain healthy and consistent with what the company saw in the first half of fiscal 2022, making him more optimistic than many of his peers.
“In an inflationary environment, when clients take our technology, deploy it, leverage our consulting, it acts as a counterbalance to all of the inflation and all of the labor demographics that people are facing all over the globe,” he said.
Krishna also said IBM’s consulting business is less likely than most vendors’ business to be impacted by the economic cycle as it involves a lot of work around deploying the kinds of applications critical to clients’ need to optimize their costs. Furthermore, he said. Because consulting is very labor-intensive, it is easy to hire or let go tens of thousands of employees as needed, he said.
For its second fiscal quarter 2022, which ended June 30, IBM reported total revenue of $15.5 billion, up about 9 percent from the $14.2 billion the company reported for its second fiscal quarter 2021.
This includes software revenue of $6.2 billion, up from $5.9 billion; consulting revenue of $4.8 billion, up from $4.4 billion; infrastructure revenue of $4.2 billion, up from $3.6 billion; financing revenue of $146 million, down from $209 million; and other revenue of $180 million, down from $277 million.
On the software side, IBM reported annual recurring revenue of $12.9 billion, which was up 8 percent over last year. Software revenue from its Red Hat business was up 17 percent over last year, while automation software was up 8 percent, data and AI software up 4 percent, and security software up 5 percent.
On the consulting side, technology consulting revenue was up 23 percent over last year, applications operations up 17 percent, and business transformation up 16 percent.
Infrastructure revenue growth was driven by hybrid infrastructure sales, which rose 7 percent over last year, and infrastructure support, which grew 5 percent. Hybrid infrastructure revenue saw a significant boost from zSystems mainframe sales, which rose 77 percent over last year.
IBM also reported revenue of $8.1 billion from sales to the Americas, up 15 percent over last year; sales to Europe, Middle East, and Africa of $4.5 billion, up 17 percent; and $2.9 billion to the Asia Pacific area, up 16 percent.
Sales to Kyndryl, which late last year was spun out of IBM, accounted for about 5 percent of revenue, including 3 percent of IBM’s Americas revenue.
IBM also reported net income for the quarter on a GAAP basis of $1.39 billion, or $1.53 per share, up from last year’s $1.33 billion, or $1.47 per share.
60% of breached businesses raised product prices post-breach; vast majority of critical infrastructure lagging in zero trust adoption; $550,000 in extra costs for insufficiently staffed businesses
CAMBRIDGE, Mass., July 27, 2022 /PRNewswire/ -- IBM (NYSE: IBM) Security today released the annual Cost of a Data Breach Report,1 revealing costlier and higher-impact data breaches than ever before, with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.
The perpetuality of cyberattacks is also shedding light on the "haunting effect" data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.
The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.
Some of the key findings in the 2022 IBM report include:
Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don't adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches amongst these organizations were ransomware or destructive attacks.
It Doesn't Pay to Pay – Ransomware victims in the study that opted to pay threat actors' ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy.
Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments.
Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.
"Businesses need to put their security defenses on the offense and beat attackers to the punch. It's time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases." said Charles Henderson, Global Head of IBM Security X-Force. "This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked."
Over-trusting Critical Infrastructure Organizations
Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments' cybersecurity agencies urging vigilance against disruptive attacks. In fact, IBM's report reveals that ransomware and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others.
Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation's cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.
Businesses that Pay the Ransom Aren't Getting a "Bargain"
According to the 2022 IBM report, businesses that paid threat actors' ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs - all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses.
The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With "time to ransom" dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don't test them regularly.
Hybrid Cloud Advantage
The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants.
The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs2. Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains.
Additional findings in the 2022 IBM report include:
Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations.
Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million.
Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed.
To download a copy of the 2022 Cost of a Data Breach Report, please visit: https://www.ibm.com/security/data-breach.
Read more about the report's top findings in this IBM Security Intelligence blog.
Sign up for the 2022 IBM Security Cost of a Data Breach webinar on Wednesday, August 3, 2022, at 11:00 a.m. ET here.
Connect with the IBM Security X-Force team for a personalized review of the findings: https://ibm.biz/book-a-consult.
About IBM Security
IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM Security X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world's broadest security research, development, and delivery organizations, monitors 150 billion+ security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information, please check www.ibm.com/security, follow @IBMSecurity on Twitter or visit the IBM Security Intelligence blog.
IBM Security Communications
1 Cost of a Data Breach Report 2022, conducted by Ponemon Institute, sponsored, and analyzed by IBM
2 Average cost of $4.53M, compared to average cost $3.87 million at participating organizations with mature-stage cloud security practices
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Covina, United States: Global Data Preparation Market By Deployment (On-premise, and Cloud-based), By Enterprise Size (Small and Medium Enterprises, and Large Enterprises), By End-user Vertical (BFSI, Healthcare, Retail, Manufacturing, IT and Telecommunication and Other End-user Verticals), and Region – Global Forecast to 2029
Data Preparation Market Outlook
Data Preparation Market– The process of gathering, cleansing, and compiling data into a single file or data table, particularly for use in the analysis, is known as data preparation. It is a multi-step procedure that is not entirely automatable because it requires several different jobs. Many of the tasks involved in data preparation are tedious, monotonous, and time-consuming. Data preparation improves data quality, which in turn improves the quality of data mining findings. It has a wide range of applications in industries like manufacturing, energy and utilities, transportation, government, healthcare, retail and e-commerce, and banking, financial services, and insurance.
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Global Data Preparation Market size accounted for US$ 3.45 billion in 2020 and is estimated to be US$ 13.21 billion by 2030 and is anticipated to register a CAGR of 14.5%. The market report has been segmented based on Organization Size and end-user and region.
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The prominent player operating in the global Data Preparation market includes Informatica LLC, IBM Corporation, SAS Institute Inc., Microstrategy Inc., Salesforce.com Inc., SAP SE, Alteryx Inc., Rapid Insight Inc., Unifi Software Inc. and Data Corporation.
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Jul 08, 2022 (The Expresswire) -- The“ICT Operations Management Market“(2022-2026) with 87 Pages research report provides an outline of the business with product types, applications and the manufacturing chain structure. Additionally, it provides information of the global market including advancement patterns, focused scene investigation, key locales and their improvement status. High level methodologies and plans are analysed similarly as collecting strategies and cost structures are taken apart moreover. The report states import/exchange utilities, market figures, cost, worth, pay and gross efficiency of the market.
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How big is the ICT Operations Management market?
The ICT Operations Management market and it is ready to develop by USD bn during 2022-2026, advancing at a CAGR of more than % during the gauge time frame. Our 87 pages report on ICT Operations Management market gives a comprehensive investigation, market size and figure, patterns, development drivers, and difficulties, as well as merchant examination covering around 25 vendors.
This report studies the worldwide ICT Operations Management Market analyses and researches the ICT Operations Management development status and forecast within the USA, Europe, Japan, China, India, and Southeast Asia. This report focuses on the highest players within the global ICT Operations Management market.
List of the Top Key Players of ICT Operations Management Market:● ● IBM ● HP ● BMC ● CA ● Bright Oceans Inter-Telecom Corporation ● Beijing ZZNode Technologies Co., Ltd. ● SITEVIEW ● Beijing Ultrapower Software Co.,Ltd.
ICT is the abbreviation of information and communication technology. ICT operation management refers to the use of professional information technology and methods to provide telecom operators and large enterprise customers (such as large enterprises in the radio and television, finance, Internet, petroleum, and electric power industries) on the telecommunications network. Comprehensive management of radio and television networks, computer networks, data centers, and related IT software and hardware environments, application systems and operational services is an important part of enterprises to promote informatization construction and optimize business operation management and processes.
Market Analysis and Insights: Global and United States ICT Operations Management Market
This report focuses on global and United States ICT Operations Management market, also covers the segmentation data of other regions in regional level and county level.
Due to the COVID-19 pandemic, the global ICT Operations Management market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2026 with a CAGR of % during the review period. Fully considering the economic change by this health crisis, by Type, Business Support System (BSS) accounting for % of the ICT Operations Management global market in 2021, is projected to value USD million by 2026, growing at a revised % CAGR in the post-COVID-19 period. While by Application, Telecommunications was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.
In United States the ICT Operations Management market size is expected to grow from USD million in 2021 to USD million by 2026, at a CAGR of % during the forecast period.
Global ICT Operations Management Scope and Market Size
ICT Operations Management market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global ICT Operations Management market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application for the period 2017-2026.
For United States market, this report focuses on the ICT Operations Management market size by players, by Type and by Application, for the period 2017-2026. The key players include the global and local players, which play important roles in United States.
The report offers a modern investigation with respect to the global market situation, most accurate patterns and drivers, product types, end-users and the general market climate. The ICT Operations Management industry is driven by the developing assembling industry and expanding cross-line exchange. What's more, developing assembling industry is expected to help the development of the market also. The ICT Operations Management market examination incorporates end-client fragment and geographic scene.
What are the key segments in the market?
On the basis of applications, the market covers:● ● Telecommunications ● Finance ● Oil ● Electricity ● The Internet ● Others
On the basis of types, the ICT Operations Management market is primarily split into:● ● Business Support System (BSS) ● Operation Support System (OSS) ● IT operation and maintenance management system ● Management Support System (MSS) ● Others
This Report lets you identify the opportunities in ICT Operations Management Market by means of a region:● North America (the United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Turkey, etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam)) ● South America (Brazil etc.) ● The Middle East and Africa (North Africa and GCC Countries)
The ICT Operations Management market has been created based on an in-depth market analysis with inputs from industry experts. The report covers the growth prospects over the coming years and discussion of the key vendors.
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The report on ICT Operations Management market covers the following areas:● ICT Operations Management market sizing ● ICT Operations Management market forecast ● ICT Operations Management market industry analysis
Which market dynamics affect the business?
The review was directed utilizing an objective blend of essential and optional data remembering inputs from key members for the business. The report contains an extensive market and merchant scene notwithstanding an investigation of the key sellers.
The vigorous merchant examination is intended to assist clients with advancing their market position, and in accordance with this, this report gives a nitty gritty examination of a few driving ICT Operations Management market sellers that incorporate FFFF. Likewise, the ICT Operations Management market examination report remembers data for impending patterns and difficulties that will impact market development. This is to help organizations plan and influence all approaching learning experiences.
The review was directed utilizing an objective blend of essential and optional data remembering inputs from key members for the business. The report contains a complete market and merchant scene notwithstanding an investigation of the key sellers.
The examiner presents a definite image of the market by the method of study, combination, and summation of information from various sources by an examination of key boundaries like benefit, valuing, rivalry, and advancements. It presents different market aspects by recognizing the key business powerhouses. The information introduced is thorough, solid, and a consequence of broad exploration - both essential and optional.
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What are the ICT Operations Management market factors that are explained in the report?
Key Market Features: The report evaluated key market features, including revenue, price, capacity utilization, gross margin, production and consumption, demand and supply, import/export, along with market share and CAGR. In addition, the study offers a comprehensive analysis of these factors, along with pertinent market segments and sub-segments.
Key Strategic Developments: Under this section, the study covers developments based on the moves adopted by players. This includes new product development and launch, agreements, collaborations, partnerships, joint ventures, and geographical expansion to strengthen the position in the market on a global and regional scale.
Analytical Tools: The Global ICT Operations Management Market report studies and analyse from the view of different analytical tools including Porter’s five forces analysis, SWOT analysis, PESTLE analysis, and investment return analysis have been used to analyse the growth of the key players operating in the market. Through these models, the data is accurately studied and assessed for the key industry players and their scope in the market by means.
Reason to buy ICT Operations Management Market Report:● This report provides pin-point analysis for changing competitive dynamics ● ICT Operations Management market provides a forward looking perspective on various factors driving or restraining market growth. ● It provides a six-year forecast assessed on the basis of how the market is predicted to grow ● Better understanding of the impact of specific conditions on the prevalent population of ICT Operations Management market. ● To understanding the key product segments and their future ● Transfer of more accurate information for clinical trials in research sizing and realistic recruitment for various countries ● ICT Operations Management market helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments ● To provides distinctive graphics and exemplified SWOT analysis of major market segments
Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
4.1 Market outline
PART 05: MARKET LANDSCAPE
5.1 Market ecosystem
5.2 Market characteristics
5.3 Market segmentation analysis
PART 06: MARKET SIZING
6.1 Market definition
6.2 Market sizing 2022
63 Market size and forecast
PART 07: FIVE FORCES ANALYSIS
7.1 Bargaining power of buyers
7.2 Bargaining power of suppliers
7.3 Threat of new entrants
7.4 Threat of substitutes
7.5 Threat of rivalry
7.6 Market condition
PART 08: MARKET SEGMENTATION BY PRODUCT
8.1 Global ICT Operations Management market by product
8.2 Comparison by product
8.3 Market opportunity by product
PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
9.1 Global ICT Operations Management market by distribution channel
9.2 Comparison by distribution channel
9.3 Global ICT Operations Management market by offline distribution channel
9.4 Global ICT Operations Management market by online distribution channel
9.5 Market opportunity by distribution channel
PART 10: CUSTOMER LANDSCAPE
PART 11: MARKET SEGMENTATION BY END-USER
11.1 Global ICT Operations Management market by end-user
11.2 Comparison by end-user
PART 12: REGIONAL LANDSCAPE
12.1 Global licensed sports merchandise market by geography
12.2 Regional comparison
12.3 Licensed sports merchandise market in Americas
12.4 Licensed sports merchandise market in EMEA
12.5 Licensed sports merchandise market in APAC
12.6 Market opportunity
PART 13: DECISION FRAMEWORK
PART 14: DRIVERS AND CHALLENGES
14.1 Market drivers
14.2 Market challenges
PART 15: MARKET TRENDS
PART 16: VENDOR LANDSCAPE
16.2 Landscape disruption
16.3 Competitive scenario
PART 17: VENDOR ANALYSIS
17.1 Vendors covered
17.2 Vendor classification
17.3 Market positioning of vendors
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India’s ‘techade’ will witness several business trends accelerate, from hybrid workplace to contactless delivery. To transform and keep pace with these trends, businesses will need to become more agile and responsive to the market. This business imperative is making hybrid cloud the prevalent IT architecture. A hybrid cloud architecture combines best-of-breed cloud services and functionality from multiple cloud vendors, flexibility in choosing optimal cloud computing environments for each workload and moving those workloads freely between public and private cloud as circumstances change.
Organizations are finding great value from the early stages of hybrid cloud adoption for improving product and service delivery while fostering innovation. In fact, a accurate IBM Institute for Business Value study estimates the value of hybrid cloud investments multiplies up to 13x on average when combined with other levers of transformation. This is why 99% of organizations in India are now using varied combinations of hybrid cloud architecture.
However, the question to ask is, are we adopting the right strategy to make the most of this opportunity? Here are five major challenges in the way of hybrid cloud mastery, which organizations must pay special attention to leverage its full potential.
Architecture that provides a suite of cloud services
During the pandemic, several companies in India had to adopt new hybrid cloud architectures at speed, assembling public, private and on-premises environments without proper integration. There was no organised structure or platform to bind them. Mastering hybrid cloud will require integrating cloud assets with a clear vision, starting with a hybrid cloud platform architecture that defines a “fabric” of cloud services across multiple environments.
A modern hybrid cloud infrastructure is starting to coalesce around a unified hybrid multi-cloud platform that includes support for cloud native application development, a single operating system and automating the deployment of applications across all cloud environments.
For instance, Bharti Airtel has built a telco network cloud using hybrid cloud and cognitive enterprise capabilities to deliver a better customer experience through enhanced network performance, improved availability, operations automation and scaling the network to the edge.
Breaking the silos
Indian companies are facing a shortage of talent, which makes it difficult to cover all areas of cloud management. Moreover, they are faced with a lack of a single infrastructure for seamless work experience which leads to work getting done in silos. Mastering hybrid cloud requires employees with critical cloud skills to do their work effectively in an integrated way across a common hybrid cloud operating model. To do it right, organizations should design operating models for incorporating cloud native, efficient, and connected working practices across the hybrid environment, addressing gaps in skills, talent, and experience.
Scale with security
Security has always been a key concern for organizations on their digitization journey, but with unintegrated cloud architecture the risk is greater, leading to data breaches, financial impact, reputational damage, regulatory enforcement actions and more. Organizations need to adopt a security-aware and security-first culture, ensuring robust security protocols and capabilities across the hybrid platform in a consistent way. For example, in a hybrid cloud architecture, you can reserve behind-the firewall private cloud resources for sensitive data and highly regulated workloads and use more economical public cloud resources for less-sensitive workloads and data. This allows organizations to foresee any potential threats across operations and mitigate them.
Maximizing returns on cloud investment
Managing cloud investments becomes very difficult when costs rise or are unpredictable. In certain cases, the cost of moving the data could go as high as 50%. In a hybrid cloud environment, organizations can manage their cloud cost through a single window to assess how cloud services are disbursed across the whole enterprise, allowing them to optimise the cloud cost by directly matching it with business priorities.
The Godrej Group, for example, has deployed cloud solutions which are expected to help them save 10% on the total cost of ownership over a period of five years, along with zero security incidents and a 100% increase in disaster recovery coverage.
Unlocking value with partner ecosystem
Deploying hybrid cloud often requires a whole ecosystem of partners, whether external or internal, who come with their own competing interests. Mastering hybrid cloud requires getting these naturally competing interests to embrace open innovation and co-creation through an aligned strategy to deliver a successful program.
To conclude, Indian organizations need to take a closer look at their hybrid cloud journey. Consider the five challenges and determine actions required to course correct. Not every organization will have a templatized approach to adopting hybrid cloud. They need to find a sweet spot between building hybrid cloud capabilities and the roadmap for better business performance in a software-driven world. Once mastered, businesses will create new value propositions and become a lever of innovation in the techade.
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Views expressed above are the author's own.
Data Center market report provides a detailed study of global market scope, regional and country-level market size, segmentation, growth, share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, accurate developments, opportunities analysis, strategic market growth analysis, product launches and technological innovations.
Datacenter physical facility in an enterprise designed to share IT operations and equipment’s to store, process, and disseminating data and applications. Further, the data center in an enterprise based on a network of computer applications and storage solutions intended to share information and data. The shift in traditional on-premises physical servers to the virtual network-based data center, owing to the advancement in multi-cloud computing, is driving the growth of data centers globally.
Data Center market is divided by Type and Application. For the period 2022-2030, the growth among segments provides accurate calculations and forecasts for revenue by Type and Application. This analysis can help you expand your business by targeting qualified place market
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Market segment by Type, covers
Market segment by Application, can be divided into
Market segment by players, this report covers
IBM Corporation, Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, and CyrusOne
Market segment by regions, regional analysis covers
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Jul 28, 2022 (Heraldkeepers) -- The Global Data Quality Tools market is expected to exceed more than US$ 2 Billion at a CAGR of 18.2% in the given forecast period.
The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Data Quality Tools market share. Major industry players with significant revenue share include Oracle Corporation, SAP SE, IBM Co, Informatica, Microsoft Corporation, Talend, SAS Institute Inc., Experian PLC, Information Builders, Syncsort, and others.
The global Data Quality Tools market report scope includes detailed study covering underlying factors influencing the industry trends.
The global Data Quality Tools market is segregated on the basis of Data Type as Customer Data, Product Data, Financial Data, Compliance Data, and supplier Data. Based on Component the global Data Quality Tools market is segmented in Solutions and Services. Based on End-User Industry the global Data Quality Tools market is segmented in Banking, Financial Services, and Insurance, Telecommunications and IT, Retail and Ecommerce, Manufacturing, Healthcare and Life Sciences, Energy and Utilities, Government, Media and Entertainment, and Others.
The global Data Quality Tools market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Data Quality Tools market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Increasing world data volume i.e. in terabytes and petabytes, across various business sectors is the key factor contributes the growth of world data quality tools market. Data quality software enhances the quality of the information through various standardized process, so as to maintain the quality of the information according to specific industry standards. Data quality tools addresses the critical issue in all areas of data resources management, typically across various important applications, including CRM, ERP, and BI. Data quality tools enhances the accuracy, timeliness, completeness, and consistency of information across various enterprise operations. Data quality tools available in the market are equipped with various functionalities, including data cleansing, data profiling, data matching, data standardization, data enrichment and data observation.
The report covers:
Global Data Quality Tools market sizes from 2015 to 2024, along with CAGR for 2018-2024
Market size comparison for 2017 vs 2024, with genuine data for 2017, estimates for 2018 and forecast from 2019 to 2024
Global Data Quality Tools market trends, covering comprehensive range of consumer trends & manufacturer trends
Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Data Quality Tools market
Major market opportunities and challenges in forecast timeframe to be focused
Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
Comprehensive company profiles of the key industry players
Reasons to Buy this Report:
Gain detailed insights on the Data Quality Tools industry trends
Find complete analysis on the market status
Identify the Data Quality Tools market opportunities and growth segments
Analyze competitive dynamics by evaluating business segments & product portfolios
Facilitate strategy planning and industry dynamics to enhance decision making
Based on Organization Size, the global Data Quality Tools market is segmented in Large Enterprises and Small and Medium-Sized Enterprises.
Oracle Corporation, SAP SE, IBM Co, Informatica, Microsoft Corporation, Talend, SAS Institute Inc., Experian PLC, Information Builders, Syncsort, and others are among the major players in the global Data Quality Tools market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
The Data Quality Tools Market has been segmented as below:
The Data Quality Tools Marketis segmented on the lines ofData Quality Tools Market, By Data Type, Data Quality Tools Market, By Component, Data Quality Tools Market, By End-User Industry, Data Quality Tools Market, By Organization Size, Data Quality Tools Market, By Region and Data Quality Tools Market, By Company.
Data Quality Tools Market, By Data Type this market is segmented on the basis ofCustomer Data, Product Data, Financial Data, Compliance Data and supplier Data. Data Quality Tools Market, By Component this market is segmented on the basis ofSolutions and Services. Data Quality Tools Market, By End-User Industrythis market is segmented on the basis ofBanking, Financial Services, and Insurance, Telecommunications and IT, Retail and Ecommerce, Manufacturing, Healthcare and Life Sciences, Energy and Utilities, Government, Media and Entertainment and Others. Data Quality Tools Market, By Organization Sizethis market is segmented on the basis ofLarge Enterprises and Small and Medium-Sized Enterprises. Data Quality Tools Market, By Regionthis market is segmented on the basis ofNorth America, Europe, Asia-Pacific and Rest of the World. Data Quality Tools Market, By Companythis market is segmented on the basis ofOracle Corporation, SAP SE, IBM Co, Informatica, Microsoft Corporation, Talend, SAS Institute Inc., Experian PLC, Information Builders and Syncsort.
The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies.
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Table of Contents:
2. Research Methodology
3. Executive Summary
4. Market Overview
4.2 Porter’s Five Force Analysis
5. Data Quality Tools Market, By Data Type
6. Data Quality Tools Market, By Component
7. Data Quality Tools Market, By End-User Industry
8. Data Quality Tools Market, By Organization Size
9. Data Quality Tools Market, By Geography
10. Competitive Insights
11. Company Profiles
11.1 Oracle Corporation
11.1.1 Company Overview
11.1.2 Product/Service Landscape
11.1.3 Financial Overview
11.1.4 accurate Developments
11.2 SAP SE
11.2.1 Company Overview
11.2.2 Product/Service Landscape
11.2.3 Financial Overview
11.2.4 accurate Developments
11.3 IBM Co
11.3.1 Company Overview
11.3.2 Product/Service Landscape
11.3.3 Financial Overview
11.3.4 accurate Developments
11.4.1 Company Overview
11.4.2 Product/Service Landscape
11.4.3 Financial Overview
11.4.4 accurate Developments
11.5 Microsoft Corporation
11.5.1 Company Overview
11.5.2 Product/Service Landscape
11.5.3 Financial Overview
11.5.4 accurate Developments
11.6.1 Company Overview
11.6.2 Product/Service Landscape
11.6.3 Financial Overview
11.6.4 accurate Developments
11.7 SAS Institute Inc.
11.7.1 Company Overview
11.7.2 Product/Service Landscape
11.7.3 Financial Overview
11.7.4 accurate Developments
11.8 Experian PLC
11.8.1 Company Overview
11.8.2 Product/Service Landscape
11.8.3 Financial Overview
11.8.4 accurate Developments
11.9 Information Builders
11.9.1 Company Overview
11.9.2 Product/Service Landscape
11.9.3 Financial Overview
11.9.4 accurate Developments
11.10.1 Company Overview
11.10.2 Product/Service Landscape
11.10.3 Financial Overview
11.10.4 accurate Developments
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