Data Discovery: Business Need of this hour

By CIOReview | Thursday, March 7, 2019

In the era of data-driven decision making, data collection becomes a crucial step towards business success. Data discovery is an essential process to build more efficient, insight-rich, productive, and discovery analytics-smart organizations. Data discovery solutions and tools are critical for ensuring commercial success in this digital era.

Along with business intelligence suites solutions, data discovery, machine learning and NPL (Natural Language Processing) solutions would be key additions. The data discovery tools play a crucial role in deriving valuable information from the data. These tools also underpin data quality management, governance and allow data for data transparency.

What makes data discovery an essential BI tool for companies? What are the benefits of using data discovery?

It paves the path to quicker insight generation and allows management of high volume and variety of data. It helps in strategic decision making and improves data accessibility.

Data discovery simplifies depictions of data via online data visualizations (charts, maps, graphs, and color-coded elements) and so on.

ADD (Automated Data Discovery) helps in finding out trends and quantitative data type. It also helps in searching correlations between any combinations of quantitative data type letting the results known automatically. ADD tool also conducts automated data profiling which allows for constant, up-to-date knowledge of your data and its qualities.

ADD tools have the power to discover, cleanse, transform, run algorithms, generate insights and use the right chart type in an automated or semi-automated mode.

Data discovery has become the top priority for the statistical analysts and management of data. Increase in an unusual amount of data is giving impetus to the deployment of real-time data analysis tools.