Microsoft released its Azure Synapse Analytical tool and announced a preview of a new product, Purview, meant to help companies keep up with data security and compliance needs, according to Bloomberg. The new products have attracted customers like ABN Amro and Procter & Gamble and helped Microsoft generate more accurate financial forecasts. 

  • The new products, meant to warehouse, analyze, and keep track of data, rivals and Snowflake Inc. in a growing market for cloud-based tools. 
  • Azure Purview lets users find confidential data and allow executives responsible for securing it to get a high-level view of all the information in different programs.
  • Microsoft’s new products come as the market for such tools is expanding, with cloud data management services expected to hit $13 billion next year. 
  • Some of Microsoft’s technology tools came from the work the company did to comply with European data privacy regulations.
  • It remains to be seen how Microsoft will navigate new partnerships and rivalries from other data management companies such as, Oracle Corp., and SAP.

Microsoft stock is currently declining. MSFT: NASDAQ is down 0.42%