What is Data Discovery and Why Does it Matter?

No matter what industry your business is in, you rely on complex and growing data volumes to keep your organization running efficiently and sustainably. There are many ways to collect and organize that data, but to put all that information to use, you need to have trusted systems in place to interpret and optimize that information. The data discovery process aims to simplify your efforts. Here’s what you need to know about the process and why it’s so essential for businesses.

What Exactly is Data Discovery?

Data discovery is the process of collecting data that businesses like yours rely on daily along with using various tools and programs to analyze the collected information. During analysis, you’ll be able to spot trends, identify patterns, and find ways to improve your operations.This form of data analysis relies on visual presentations of information. As a result, it is easy for anyone, not just experienced data scientists and data analysts, to interpret and understand the insights the data is revealing.

Many data discovery tools use Artificial Intelligence (AI) to sort through and interpret complex data sets. This effectively makes it easier for data users at all levels of the business to access information in a clear and concise way.

Data Discovery vs. Traditional Data Analysis

Traditional data analysis relies on predefined queries to sort and interpret data. This means users need to know what they’re looking for and how to input that specific query into the system to gain access to relevant information.

Data discovery, on the other hand, offers a more flexible approach. Users can interact with the data and sort the information in a way that meets their needs each time. The query can be adjusted on the fly and doesn’t have to conform to pre-existing rules or benchmarks.

Why Data Discovery is Important

Data discovery can simplify your data management and analysis efforts, making data more accessible and user-friendly at all levels. Here are a few benefits of incorporating this type of data management into your organization:

• Improved Compliance: Data discovery lets you better interpret and understand your data. This makes it easier to spot compliance violations quickly so you can course correct before damage is done.
• Better Efficiency: This method of data analytics makes it easier to interpret data and get the information you need quickly. This boosts efficiency and helps key stakeholders make important decisions in less time.
• Real-Time Monitoring of Information: AI systems commonly used for data discovery methods are capable of monitoring information 24/7. This makes it easier to identify risks and make adjustments to keep those risks from turning into major issues.
• Improved Workflows: Because data discovery systems rely on programs and data analytics software to interpret data, they automate much of your data team’s workflow. This automation frees up teams for more important tasks while also reducing the risk of human error.
• Deeper Insights into Customer Behavior: Understanding your customers’ needs and behaviors can help you make better business decisions. Data discovery methods help you evaluate those behaviors and identify key areas of improvement to drive sales.

Implementing a data discovery system can help your business make sense of complex data and streamline your operation so you can grow sustainably and strategically.

How the Data Discovery Process Works

Though the discovery data management method can be customized to fit your business’s unique needs, the process you’ll want to use will largely be the same across different industries. These are the four steps you’ll need to take:

1. Set Clear Goals

As with any form of data management, you’ll need to identify clear goals for your discovery process. This will help ensure that the data you collect and analyze meets your business’s needs. Some goals may include monitoring and identifying customer behavior, tracking performance of certain products or services, and other similar targets.

Figure out how those business goals can be achieved by leveraging the data you collect and determine what types of information you want the database to contain. Remember that your goals can change over time, so you may need to re-evaluate throughout the year.

2. Gather Your Data

Data discovery software lets you collect raw data based on your goals and analyze that information to help you figure out where you need to improve and what you’re doing right. Collect data for each key goal you’re trying to reach. Then, let your system analyze the information for you. Comprehensive data discovery tools will help you take that raw data and turn it into visual representations that everyone on your team can understand.

3. Analyze the Visualizations

The data you collect still needs a human layer of review. This is your opportunity to look at the information and see what it tells you. Take your time and go through each dataset closely. If you find that certain information is lacking, go back through the discovery process and fill in the gaps. Your tools will help you do this based on the parameters you specify.

4. Repeat the Process

Data discovery is an ongoing process that can grow and change with your business. It’s not something you do only once. Use the information you’ve gathered to make the necessary changes and repeat the discovery process to see how behaviors have changed. This information can help you make better-informed business decisions that support your long-term goals.

What to Look for in Your Data Discovery Tools

Sorting through tons of data requires comprehensive data discovery software and tools. Every tool works in slightly different ways, so make sure you’re choosing the best programs for your needs from the beginning. Look for these important characteristics as you explore your options and identify ways to power your data strategy:

• Easy to Use Solutions: The tools you select should be easy to use and designed with the average data team skill set in mind. You shouldn’t have to hire an experienced data scientist to show you how to use the system or interpret the information.
• Multiple Visualization Methods and Options: Different types of data can benefit from different forms of visualization. Review the methods and options each tool offers and choose the system that can present data in a way that your team can understand and use.
• AI-Powered Analytics to Make Interpretations Easier and Faster: You have better things to do than spending hours analyzing and interpreting complex datasets. Look for tools that feature AI-powered analytics systems to help take the strain off of your team while still giving you actionable insights for your brand.
• Mobile-Friendly Interfaces to Improve Accessibility: There may be times when you need to access information away from your headquarters and your computers. Make sure the tools you choose are designed with mobile devices like smartphones and tablets in mind.

The right tools can make all the difference in your data management and data governance efforts.

Gain the Insights Your Business Needs

Data discovery should help your business improve your processes and make accessing and interpreting the information you collect easier and faster. With the Actian Zeenea Data Discovery Platform, you can take control of your data and put it to work for your business. Learn more about our platform and see how it can simplify your business.

About Actian Corporation

Actian makes data easy. We deliver cloud, hybrid, and on-premises data solutions that simplify how people connect, manage, and analyze data. We transform business by enabling customers to make confident, data-driven decisions that accelerate their organization’s growth. Our data platform integrates seamlessly, performs reliably, and delivers at industry-leading speeds.