Estonian data startup LiTech releases SaaS platform to tackle a multi-trillion dollar data quality problem

Estonian startup LiTech has launched their Data Observability application as a Cloud platform to provide a more simple and accessible solution for Data Quality management.

An increasing number of businesses rely on data for decision-making, and the need for accurate and reliable data is becoming increasingly important in every business sector. LiTech, which raised half a million euros last year, has introduced a new Cloud platform to provide their data quality management solution for any data-driven company.

The solutions available on the market today are primarily targeted for large enterprises, but the need for data observability and solving data issues is relevant for any data-driven company. According to Gartner, poor-quality data costs an average of $13 million per year for a company, with the total cost amounting to trillions of dollars annually. That is why we are starting to provide our solution on a SaaS platform, making data quality management more accessible and easier to begin with,” said LiTech’s CEO and co-founder Raiko Limmart.

The newly released Cloud platform allows users to get started in minutes without having to worry about where and how to deploy the application. New features are added with automatic updates, and the simple user-based license model allows for better cost management compared to the on-premise solution.

LiTech’s application has been available since 2019, with the goal of helping to identify inconsistencies in data that otherwise could cause problems in downstream processes. The platform allows to create various types of data validations, automatically profile any data asset, analyze results, and notify responsible users of errors and anomalies. Users can easily create a data catalog for available data assets, define data lineage for upstream and downstream systems, and manage term definitions and data relations in a business glossary.

Better data quality and regular data monitoring increases the reliability and usability of data, allowing companies to get valuable insights to enhance analytics and decision-making. The platform improves collaboration between business and IT departments, while also saving a lot of time for data engineers and analysts. LiTech is cooperating with companies in various sectors, including SEB Baltics in banking, Telia in telecommunication, Rimi Baltics in retail, University of Tartu in education, and many more.