Data discovery is the process of bringing together disparate datasets and creating new threads of meaning with the data. As data can be spread across multiple databases, data discovery helps to determine which databases should be analyzed together to produce more valuable insights.
Data discovery also works as a precursor for data visualization, allowing individuals to build compelling visual representations out of the various data that has been brought together and analyzed.
There are three key steps in the data discovery process:
Data discovery allows analysts to assess trends in customer behavior based on relevant customer data, such as purchase history, customer service inquiries, basic demographics, and online behaviors associated with a company’s brand.
With data discovery, analysts can look at data in complicated corporate processes, such as supply chain management, wherever it is in the process’s life cycle. It allows them to know what questions need to be answered to better understand the process and how it is performing as a whole.
Data discovery helps analysts create meaningful, easily understood visualizations by helping them determine which pieces of data should be visualized and how to connect them.
Using data discovery, analysts can examine pools of BI data with specific goals about the data they want to discover. With a data discovery mindset and data discovery tools, businesses can maximize their BI data to compare themselves against competitors and to set goals.
Predictive analytics give companies valuable insight into how they’re performing now and what they may need to do to improve future metrics. By incorporating data discovery, analysts increase their opportunities to find and use more integrated and holistic data.