IBM acquired Data observability software Databand.ai to capture the growing market for Data Observability
- ByStartupStory | July 8, 2022
IBM announced the acquisition of Databand.ai, a market leader in data observability software that enables businesses to correct data problems such as errors, pipeline failures, and poor quality before they have an adverse effect on their bottom line. The news that was announced today helps businesses make sure that reliable data is placed in the hands of the appropriate users at the appropriate time and further improves IBM’s software offering across data to cover the complete spectrum of observability. IBM has acquired Databand.ai five times in 2022 as it works to improve its hybrid cloud and AI expertise and capabilities. Since Arvind Krishna became the company’s CEO in April 2020, IBM has bought more than 25 businesses.
Organizations struggle to control the health and quality of their data sets, which is important to improve business decisions and achieve a competitive advantage as the volume of data keeps expanding at an unheard-of rate. Data observability is emerging as a key solution for helping data teams and engineers better understand the health of the data in their system and automatically identify, troubleshoot, and resolve problems, like anomalies, breaking data changes, or pipeline failures, in close to real-time. Data observability is a rapidly expanding market opportunity. Poor data quality costs enterprises an average of $12.9 million annually, according to Gartner. The market for data observability is anticipated to increase rapidly in order to aid in reducing this difficulty.
“Our clients are data-driven businesses that depend on reliable, high-quality data to power their vital operations. Their business may come to a standstill if they can’t get the data they require at any given time, according to Daniel Hernandez, general manager of IBM’s data and AI division. “With the addition of Databand.ai, IBM now has the most complete set of observability capabilities for IT spanning apps, data, and machine learning. We are also keeping up our commitment to provide our clients and partners the tools they need to deliver reliable data and AI at scale.”
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Josh Benamram, Co-Founder and CEO of Databand.ai, said: “You can’t defend what you can’t see, and when the data platform is ineffective, everyone is harmed, even customers. As a result, major international brands like FanDuel, Agoda, and Trax Retail already rely on Databand.ai to eliminate unpleasant data surprises by spotting and resolving them before they have a negative impact on their bottom line. Our ability to scale our product and considerably increase our capacity to meet the changing needs of enterprise clients will both be facilitated by joining IBM.”
Employees of Databand.ai, with its headquarters in Tel Aviv, Israel, will join IBM Data and AI, adding to the company’s expanding line-up of data and artificial intelligence products, which already include IBM Watson capabilities and IBM Cloud Pak for Data. The deal’s financial specifics were kept confidential. The transaction was finalised on June 27, 2022.
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