Data intelligence software company Collibra has acquired OwlDQ, a provider of predictive data quality software that uses machine learning to detect anomalies in data, to generate data quality rules automatically, and to reconcile replication errors.
"Data quality is integral to data intelligence, and poor data quality is a key reason why organizations don't trust their data," said Jim Cushman, chief product officer for Collibra. "Together, Collibra and OwlDQ will provide organizations with a single, cloud-based system of engagement to unify data governance, data privacy, data catalog, data lineage and now continuous data quality so teams can more easily and confidently get to trusted business insights and become data informed."
Data Quality is Key to Regulatory ComplianceAccording to Collibra, with the integration of OwlDQ into the Collibra Data Intelligence Cloud it will provide a new offering, Collibra Data Quality, which will allow organizations to centralize and automate data quality workflows to comply with global regulations and streamline their data and analytics processes across the enterprise. It is vital to have an enterprise data quality foundation to respond to regulatory and business analytics demands in a scalable way, Collibra says. Without one, Collibra contends, organizations are often trapped in manual rule writing and management, limited data connectivity, and a siloed view of data quality. This can result in massive productivity loss and costly fines due to regulatory risk and non-compliance, along with significant potential revenue loss.
"We've developed some of the most advanced machine learning to address comprehensive data quality challenges, such as profiling, rules, data reconciliation and discovering hidden data relationships. With OwlDQ's predictive data quality, companies can reduce complex and error-prone manual rule writing, streamline their data and analytics processes and expedite trusted business outcomes," said Kirk Haslbeck, founder and CEO of OwlDQ, who will serve as vice president of engineering at Collibra. "We are so excited to bring OwlDQ together with the Collibra Data Intelligence Cloud to provide a unified, scalable solution across diverse databases, files and streams with continuous and comprehensive self-service data quality through ML-powered, auto-discovered and adaptive data quality rules."
The acquisition is the latest milestone for Collibra, which reached a $2.3 billion valuation with its Series F funding in April 2020. The company also added more than 100 new customers in the past year, and now works with nearly 500 global companies, including seven of the 10 largest pharmaceutical companies, 70% of the 10 largest U.S. banks and several of the world's largest retailers.
For more information, go to https://owl-analytics.com and www.collibra.com.