Was un aware of the broad topic, but can see the value. Was also unaware of the company: Monte Carlo. Data Quality is something we always considered. Much more in the piece.
Monte Carlo Raises $135 Million to Grow Data Observability Biz
Monte Carlo Manta Data
in Datanami by Alex Woodie / May 26, 2022
Data observability has emerged as one of the hottest sectors in the big data market, thanks to its focus on fixing broken data pipelines. One of the hottest players in the field is Monte Carlo, which this week announced a Series D round of funding worth $135 million, at a $1.6 billion valuation.
As companies look to data for competitive advantages, they’re finding that the costs of data quality problems continues to grow too. Gartner estimated that the average customer loses nearly $13 million per year due to data downtime and data quality problems. This is the area that Monte Carlo is addressing with its data observability offering.
Barr Moses and Lior Gavish co-founded Monte Carlo three years ago with the goal of developing tools to help companies detect problems in their ETL data pipelines and even take steps to automatically fix some of them. While ETL and ELT is viewed by some as a legacy approach to moving data, they continue to be the workhorse mechanisms for moving large amounts of data from on prem systems to the cloud, and everywhere in between.
The San Francisco company borrowed from concepts popular in the SRE and DevOps space to help address the problem of bad data flowing through data pipelines. By using connectors to take read-only copies of data directly from pipelines and machine learning techniques to spot anomalies in patterns, Monte Carlo is able to continuously monitor for common data problems, and send alerts to engineers when they are detected. .... '
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