Meaning of Data Discovery
A data discovery process consists of uncovering relevant data insights and communicating those insights to business users.
In business intelligence, a major problem is a mismatch between people who know how to prepare data for analysis and those who are expected to use the insights from those analyses.
It is easier for non-IT staff to access complex data sets and draw out the information they need with the help of data discovery tools. It is possible for anyone to perform this process of knowledge discovery, regardless of their technical background.
Big Data Discovery: Why Is It So Popular?
Let's take a look at the main benefits of data discovery as a trend, now that we have covered the definitive definition of data discovery.
During the previous decade, the big data industry has seen exponential growth. In the last two years, more data has been generated than ever before, and the industry has created around 13 million jobs globally since 2012. Predicting patterns and connections has improved the way businesses work, making it one of the biggest industries worldwide and one of the hottest trends. Let's take a look at why.
Why is data discovery important?
It is said that data is the new oil. A key insight into consumer desires is offered by this platform. As we all know, "knowledge is power," so businesses need to leverage data to remain competitive in today's world. A foundational step to ensuring regulatory compliance is data discovery. Ultimately, it determines which data needs the highest level of security and protection and which data can be handled with low to no security considerations. Redundant, Obsolete, and Trivial (ROT) Data elimination is a critical step toward reducing waste and ensuring effective risk management.
As a society, we are living in a digital age where data is everywhere. In order to continue to grow, businesses should leverage the data they have at their disposal. It is expected that by 2025, the total amount of data created will reach 175 zettabytes. By 2025, the global data discovery market is expected to grow by 14.4B, illustrating the interest in data discovery in the business intelligence community.