If you are looking to select and buy Data Quality software (also known as DQ software), there are a number of leading contenders that would make sense to add to your long list of potential options. This article aims to provide a short viewpoint on what data quality software is, the main players in the market, and our suggestions for getting started with your vendor selection.
What is Data Quality software?
Data quality software is designed to improve data accuracy, completeness, consistency, and reliability, leading to better decision-making, reduced operational risks, improved customer experiences, and compliance with regulatory requirements.
Most data quality solutions will assess, improve, and maintain the quality of data in an organization's databases, systems, and applications. It is a crucial component in a wider data management and analytics strategy and forms just one component of a wider suite of data tools.
Who are the key Data Quality vendors?
As a Technology Matchmaker, Viewpoint Analysis does not recommend or promote any given technology vendor. Our role is to understand the business need, promote the requirement to the vendor community, and run the vendor selection process in an open and transparent way.
There are a range of software vendors providing data quality tools. The following list provides some of the best and most well-known data-quality software vendors. It is not an exhaustive list (and is listed in no specific order) but provides a starting point for initial research purposes and provides some good options for an initial market assessment.
The following businesses are often included in an initial market assessment for Data Quality tools - further information can be seen in the full Data Quality Software Longlist Report.
How to run the initial vendor assessment
Viewpoint Analysis runs vendor selection processes for businesses of all shapes and sizes. There are typically three different stages of vendor selection - although most customers will only need to select two of these three steps.
A business issue but no market knowledge
If you know that your business has a data quality problem - that's a great start. For many of our customers, they are not aware of the data quality software market and the options that are available to them. At this early stage, approaching the vendor community can be daunting and they are simply in 'learning mode'.
If this is the case for your business, the best approach is to issue a problem statement to the vendors. Let them know that you have an issue - and ask them for advice and recommendations. It is too early to issue an RFI - as you really don't know what you want or need - and it may not be data quality software that you look to buy.
Having those initial conversations will help educate the team and bring the vendor community closer. It's also a great way to bring new ideas to the business.
If you need help here, our Data Technology Matchmaker might be what you need.
Initial market assessment (RFI)
If you know that you definitely do need Data Quality software and you have an understanding of the vendors in the market, the next step is to do an initial market assessment. At this stage, you want to go wide - speaking to a number of the leading vendors in the list we mentioned above (and perhaps others) so that you can see who can help you with your problem.
However, although you need to go wide - that isn't a reason to go slow. The initial market assessment (or Request for Information) should take a few weeks - definitely not months. The name of the game is to take your challenge to the market and have the vendors come back with how they would solve your problem. You should have a good feel for the vendors you want to hear from and at this point, you will be wanting them to demonstrate the software so that you can see how it works.
If you need help at this stage, try out our Rapid RFI (RRFI).
The final step of the process is to select your shortlist (we recommend just the final 4 or 5 - or even fewer if you have already issued an RRFI) and issue an RFP (Request for Proposal). Again, this should be super-fast so that you can get to a decision quickly.
This part of the process is about getting from your shortlist to your preferred vendor, in a fair and orderly manner. An RFP can sound complicated and worrying for some - and it can also be a red flag for the vendors and they may decide not to bid. It's one to be careful with but a crucial last step in the process. If you need help at this stage, try our Rapid RFP (RRFP).