Data is the new fuel. Each and every industry is currently dependent on data for its sustenance. And, it is very important to utilize the data in an optimized manner. There is a vast array of data coming from various dimensions but not all data is essential for carrying out exploration and analysis activities. As a result, one needs to carefully decide which piece of data is crucial for making future decisions.
However, in order to gain valuable insights, it is necessary to first convert the data into a standardized format for achieving easy and efficient intelligence. This is where the concept of Data Discovery comes into the picture. Data Discovery is the process of gathering, transforming, and evaluating data from various sources to identify trends and patterns in data.
In this article, you will gain information about Data Discovery Tools. You will also gain a holistic understanding of Data Discovery, its benefits, and the top 10 Data Discovery Tools in the market.
What is Data Discovery?
Data Discovery is the process of gathering and analyzing data from various sources, and it is frequently used to identify trends and patterns in data. It facilitates data exploration through a variety of visual tools that can assist business leaders in discovering hidden patterns and outliers to assist their organization in making business decisions. Furthermore, it consists of a series of steps that can be structured in the form of a framework to help an organization understand its data.
Data discovery, which is commonly associated with business intelligence (BI), assists in informing business decisions by bringing disparate, siloed data sources together to be analyzed. Connecting multiple data sources, cleansing and preparing the data, sharing the data throughout the organization, and performing analysis to gain insights into business processes are all part of the data discovery process.
What Are The Benefits Of Data Discovery?
The data discovery process provides organizations with the ability to analyze their precious data resources and gain valuable insights. It enables an organization to modify unstructured information to encourage and upgrade its analysis.
Some of the benefits of the data discovery process are as follows:
1) Accumulate Actionable Insights
From KPIs to patterns and circulations, the data discovery process assists in deriving and breaking down insights into fundamental data that was previously in a very unstructured format. This process takes complex data, structures it so that business stakeholders can understand and analyze the structured data thus assisting them in making business decisions.
2) Save Time
While reports anticipate that information will be stored in a specific order, this requirement is not always met by the data storage repositories. This is where data discovery comes into the picture. It aids in the collection of information from various sources and structures, making it easier to examine and analyze. This procedure gives data analysts the right information in the right format, saving time and increasing efficiency.
3) Scale Data across Teams
Information is flexible and frequently contains data that can be used in multiple examinations and analyses. Organizations can use similar information in a variety of ways to generate innovative knowledge and unique insights. However, the data discovery procedure encourages this procedure and provides all users with a single version of reality.
4) Clean and Reuse Data
Data Discovery is a continuing process. As new information is collected, previously collected information should be cleaned, stored, and made available to be used sometime later. Since the data discovery process makes use of both new and old data, it is frequently reused at scale.
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Understanding Data Discovery Tools
Data discovery software is a tool that enables its users to collect, transform and integrate data from numerous sources to identify hidden patterns and trends. The primary functions of data discovery software are data preparation, data modeling, visual analysis, and advanced statistical analysis thus making it a powerful tool.
Data collection is important, but it is not sufficient. To uncover relevant insights that drive decision-making, you must organize and analyze data. This is where data discovery tools come into the picture. These tools assist users in transforming raw data into actionable business insights. These insights can help its users in forecasting future trends and becoming more proactive.
The top data discovery tools in the market are as follows:
Phocas Software is a business intelligence software that helps organizations in aggregating and transforming their valuable data from different data sources, ERP, and business systems. The transformed data will help them simplify their analysis and decision-making processes.
In Phocas, creating dashboards is very simple and intuitive. However, its most notable feature is its ad hoc analysis capabilities. Unlike other BI tools, in Phocas, it is very simple to move from dashboards to underlying business data transactions. Moreover, it is the user who determines how much detail should be displayed in the dashboards and in what format. Phocas revolutionizes the way people interact with their own data by simplifying data management with powerful analytics and visualization tools.
Phocas mainly deals with the concept of funneling all of your data into a single repository and creating simple and intuitive visualizations.
Domo is a Business Intelligence (BI) software-as-a-service (SaaS) platform. It can help organizations of all sizes to aggregate and transform raw data stored across one or more databases into dashboards, reports, and graphs. In simple words, it helps companies with their BI leverage at the cloud-scale in a very short time.
It provides holistic views of corporate performance with filterable and configurable access to a variety of key performance indicators (KPIs) and metrics. This access makes it very easy for the business stakeholders to view real-time data in a variety of customizable visual forms. It helps them improve the performance of the business and capitalize on new opportunities.
Domo provides a wide range of configurable and customizable data displays, including rich graphs, multi-part widgets, sparklines, trend indicators, and other features.
3) Tibco Spotfire
Spotfire is an extremely powerful enterprise-grade analytical solution that enables its user to derive and visualize business insights in a fast and efficient manner. It is a smart, secure, flexible, and scalable tool with multiple capabilities including data discovery, data wrangling, data visualization, and predictive analytics. Furthermore, it also provides interactive analytical apps along with a dashboard. This capability enables users to aggregate data and comprehensively view it through customizable and interactive visualizations.
This BI solution makes businesses smarter, provides AI-driven analytics, and simplifies the visualization of interactive data. It accelerates data analysis across an organization, allowing for faster, more confident, and more accurate decision-making.
4) Microsoft Power BI
Microsoft Power BI is a product and service suite for individuals and teams that include business intelligence (BI), reporting, and data visualization. The solution consists of several products and services, and the value and versatility come from leveraging the individual elements and capitalizing on how they interact.
Users and other business stakeholders who use Power BI can gain valuable insights from a specific dashboard or report. Furthermore, it allows them to interact with previously created insights. The system’s graphical interface assists organizations in staying informed about the market while making critical business decisions. With the help of its researchers, Microsoft created the feature of insights which is based on several advanced algorithms.
Power BI provides a suite of tools including Power BI Service, Power BI Desktop, Power BI Pro, Power BI Premium, Power BI Embedded, Power Bi Mobile, and Power BI Report Server.
Grow.com is a full-stack, no-code, Business intelligence (BI) platform that enables organizations to easily aggregate and integrate data, transform and explore it, and derive valuable insights to make data-driven decisions. It allows its users to easily create and maintain KPI dashboards from hundreds of data sources, while also making it simple for non-technical users to create metrics. They have a large number of native data transformations that resemble SQL scripting of a dataset but without requiring any SQL knowledge.
Grow lacks some of the advanced analytics features and other capabilities found in other “dashboard” platforms on the market. However, it might be the perfect fit if you understand the value of data/visualization/dashboards but lack some of those skill sets in your company.
6) IBM Cognos Analytics
IBM Cognos Analytics is a fully-featured Business Intelligence solution that can be used by companies of any scale. It integrates reporting, modeling, dashboards, stories, analysis, and event management into a single platform thus making it a powerful and versatile tool. This online Business Intelligence system includes Trend / Problem Indicators, Performance Metrics, Benchmarking, Ad hoc Query, and a variety of other features. All of these characteristics enable businesses to comprehend their organization’s data in minute detail and make sound business decisions.
This data discovery software includes data discovery tools that provide detailed analysis, easy customization, and a sleek interface while performing menial tasks.
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- Fully Managed: Hevo requires no management and maintenance as it is a fully automated platform.
- Data Transformation: Hevo provides a simple interface to perfect, modify, and enrich the data you want to transfer.
- Faster Insight Generation: Hevo offers near real-time data replication so you have access to real-time insight generation and faster decision making.
- Schema Management: Hevo can automatically detect the schema of the incoming data and map it to the destination schema.
- Scalable Infrastructure: Hevo has in-built integrations for 100+ sources (with 40+ free sources) that can help you scale your data infrastructure as required.
- Live Support: Hevo team is available round the clock to extend exceptional support to its customers through chat, email, and support calls.
The Alteryx Analytics Automation Platform automates analytics, machine learning, and data science processes. It enables users in data access, manipulation, analysis, and output software solution. This can be done on a recurring or one-time basis. Alteryx workflow-building capabilities enable users to see, collaborate on, support, and improve the process. Files, databases, and APIs can all be used to read and write data in Alteryx. Moreover, it also has predictive analytics and geospatial analysis capabilities.
Alteryx centralizes all of your business data and assists you in making better use of it. The data discovery tool has strong task automation capabilities, allowing you to leverage and rely on your operations. Its user-friendliness, including drag-and-drop analytics, enables organizations to create and apply data-driven insights. In a nutshell, Alteryx empowers anyone to turn data into breakthroughs.
8) Dundas BI
Dundas BI is fully-open enterprise-grade business intelligence, data analytics, and dashboarding platform that simplifies the analytics process and enables anyone to visualize and analyze data. It aids in the creation and utilization of interactive dashboards, reports, scorecards, and other similar tools.
Dundas BI will transform raw data into a powerful tool for business success. You can use Dundas BI as your organization’s central data portal or integrate it into an existing website as part of a custom BI solution. Its visual data discovery tools include a simple drag-and-drop interface for data editing, excellent data visualization, and embedded data analysis, making data discovery simple and effective.
Logikcull is a simple, secure, and rapid eDiscovery software that can be used for processing, reviewing, and producing data. As part of a lawsuit or investigation, legal professionals can use this software to process, review, tag, and produce electronic documents in a completely secured manner. This software stands out from the crowd due to its instant data delivery.
Logikull provides out-of-the-box on-site customization capabilities that aid in task delivery, document redaction within seconds, and identifying loopholes at an early stage. It is accessible via mobile, tablets, and other mobile devices.
Datapine is an innovative business intelligence, dashboarding, and reporting platform. Non-technical users can also access professional data analytics because of its modern self-service analytics functions and user interface. This tool also includes advanced analytics features like predictive analytics and intelligent data alerts based on Machine Learning and artificial intelligence.
Anyone with no programming experience can use Datapine to easily collect and compile data and make data-driven business decisions. The impressive data interaction ability of AI provides agility and automation to every vertical.
In this article, you have learned about Data Discovery Tools. This article also provided information on Data Discovery, its benefits, and the top 10 Data Discovery Tools in the market.
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Hevo Data, with its strong integration with 100+ Data Sources (including 40+ Free Sources), allows you to not only export data from your desired data sources & load it to the destination of your choice but also transform & enrich your data to make it analysis-ready. Hevo also allows the integration of data from non-native sources using Hevo’s in-built REST API & Webhooks Connector. You can then focus on your key business needs and perform insightful analysis using BI tools.
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