September 12 2019 – We are excited to announce our investment in Trifacta, the leader in data cleaning and transformation. Trifacta provides a data wrangling software platform that enables data scientists, engineers and business analysts to accelerate data projects by using machine learning to recommend and ultimately automate the range of data transformations that data users must complete to effectively “clean” the data.
With this investment, we’re betting on a demonstrated leader in the category of data preparation. Trifacta is a Forrester Wave leader and takes the number 1 ranking across all major analyst reports covering its industry. Used by over 12,000 companies across 143 countries, Trifacta has a strong list of Fortune 500 customers including Google, PepsiCo, IQVIA, New York Life, and JPMorgan Chase, among many others.
Trifacta capitalizes on and helps accelerate the ongoing shift to the digital organization. With the rise of big data and the rise of AI-enabled automation, organizations are launching new initiatives to unlock the value of the massive amounts of data they accumulate daily. In order to do this, various data users—traditionally the loosely defined community of data engineers and data scientists—spend an estimated 80% of their time on the tedious task of cleaning and organizing the data to a state suitable for deriving analytical or process value. This is because they either must manually transform the data via clunky tools like Excel or write scripts to standardize larger bodies of data.
Trifacta accelerates the typical time spent on cleaning the data, so that data users can spend more time on tasks that drive tangible value for organizations. Trifacta’s machine-learning-powered engine provides users with automated recommendations for transformations to speed up the data wrangling process. The platform also provides users with constant visualizations of their data structures, so that they can spot inconsistencies and preview the data models as they go. The result is faster iterations on the data, and ultimately, greater organizational value derived from such data.
Our team at BMW i Ventures is excited to invest and partner with Trifacta to drive its expansion across new markets and geographies. We believe that Trifacta holds the promise to transform and accelerate how organizations derive value from their ever-growing heaps of data, truly enabling the future of the digital organization.