Data discovery: the major steps & benefits

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Data discovery

Data discovery is an enterprise intelligence service that provides companies with specific, easily accessible information from numerous sources. It allows companies to easily understand their intelligence and the big trends they can use to their advantage.

In this blog, we will be looking at data discovery solutions major steps and how they lead to outstanding business benefits:

  • Integrate & combine material

The process is initiated by combining important metrics such as financial services information and logistical metrics. A warehouse is utilised to combine and consolidate all the seemingly-unrelated info that can then be integrated to great effect.

  • Prepare the data

As raw material can be difficult and tedious to analyse, this particular process is designed to clean and standardise the information, thus making it easier to digest.

The preparation process includes finding corruption, errors and inaccuracies in the information and then eliminating or correcting the information found in the database. Enterprise teams should also ensure the right unit of measurement is being utilised to avoid mistakes in the results.

Finally, this process includes manually re-processing information that has missing elements or duplications. The preparation process, therefore, makes the information more accurate and reliable, as opposed to raw material that is fed through to teams without any scrutiny.

  • Share the information

The information should be shared with the enterprise’s authorised individuals. Sharing this information allows the information to be used to its optimal advantage because different team members can provide their own unique perspectives on the collected info. This extra level of scrutiny allows enterprises to interpret the information in various ways and therefore promotes various possible uses.

  • Create informational insights

When analysts and management teams have access to the info, they can then go on to analyse and interpret it and thus optimise its potential. There are numerous tools available at this stage to help with the process.

  • Visualise key insights

Once all relevant teams have produced insights, they can present their results to the company. These solutions utilise numerous easy-to-understand visualisation analytics like charts, scatter plots and maps to make it a breeze to digest the information.

As these processes contain big ideas as opposed to the finite insights, the easily-readable visualisations make it simple for team members across the enterprise to understand and make value from the provided sets.

The result? Well, see for yourself…

This quick and easy process comes with a number of positives, including:

  • Fast interpretation: The modern business is moving at a rapid pace, and therefore it is imperative for companies to be able to quickly interpret important information they have at their disposal.

These solutions make that simple, ensuring your company can quickly make decisions based on easily-understood visualisations.

  • See the big picture: Data discovery makes it easy to understand the big trends that your enterprise can use for outstanding results. As the highly efficient preparation process distils the info into easily-digestible graphics whilst leaving behind the unnecessary stuff, you and your team can produce fast, exciting interpretations without all the downtime that comes with sifting through finite bits of information.
  • Easy to share: These solutions were designed to be shared. What’s more, there doesn’t have to be any extra work undertaken to ensure the info is understood by everyone who receives it, as the intelligent processes taken to prepare said info make it easy for team members across the business to understand with ease.

As you can see, the process is simple, yet the rewards can be huge. For this reason, it has become one of the most important enterprise trends for the last few years.

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