IT consulting firm Accenture has made a minority investment in Paxata, a company that works to transform raw data into ready information. Accenture said that its investment and alliance is aimed to help clients provide enterprise end users with exceptional data control across multiple data sources. This will speed time-to-business-insight and free up IT resources, allowing scarce data talent to work on strategic data architecture, rather than tactical data preparation. Terms of the investment were not disclosed.
Accenture will include Paxata's Adaptive Information Platform and self-service data prep application in the Accenture Insights Platform (AIP). AIP is a cloud-based analytics-as-a-service solution designed to solve business problems supporting a data-driven culture.
Using Paxata's Adaptive Information Platform and approach for data democratization with governance, Accenture helps clients accelerate access to contextual information. Business analysts will be able to gather, explore, discover and prepare data themselves and rapidly assemble and construct information that is trustworthy and ready for business use.
Paxata will also support Accenture clients' emerging enterprise requirements such as digital transformation, modern data supply chain, and General Data Protection Regulation (GDPR) for hybrid and multi-cloud environments.
“Paxata's Adaptive Information Platform empowers users to unlock trapped data and use it to develop robust insights, which can lead to more intelligent decision-making and better business outcomes,” said Narendra Mulani, chief analytics officer, Accenture Analytics.
“Through Accenture's investment and strategic alliance with Paxata, we are well positioned to help our clients' transformation to becoming data-native organizations,” he added.
The investment and alliance was undertaken through Accenture Ventures, which identifies, partners and strategically invests in the most promising innovations in the market to quickly scale disruptive innovation. As part of the alliance, Accenture will be a preferred systems integrator for Paxata's platform globally.
Accenture and Paxata will collaborate on Paxata's product roadmap with the opportunity to undertake joint solution design and technical integrations, for the benefit of clients of both companies.