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According to Gartner, organizations that provide access to a curated catalog of internal and external data assets will derive twice as much business value from their analytics investments by 2020 than those that do not. That’s a ringing endorsement of data catalogs, and a growing number of enterprises seem to agree. In fact, the global data catalog market is expected to grow from US$210.0 million in 2017 to US$620.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.2%.
Why such large and intensifying demand for data catalogs? The primary driver is that many organizations are working to modernize their data platforms with data lakes, cloud-based data warehouses, advanced analytics and various SaaS applications in order to grow profitable digital initiatives. To support these digital initiatives and other business imperatives, organizations need more reliable, faster access to their data.