We are surrounded by data, it’s everywhere. Organisations depend on data to make crucial decisions every day but depending on the team and technology in place their amount of insight could be limited.
This is where data discovery can help. Data discovery allows technical and non-technical individuals to quickly and easily explore their organisations data (from an unlimited number of data points) to unlock insight that can help them to make smarter decisions which can help the business perform better. Depending on the market that the organisation operates in this business intelligence could help improve efficiencies in a production line, unlock sales trends or help with fraud prevention, etc.
Without data discovery imagine pulling endless data from tables (or spreadsheets!) and trying to work out what is happening. This can be hugely time consuming, repetitive, prone to human error and will only be a snapshot.
Data discovery isn’t a tool, it’s a process that a business user undertakes using visualisations build on advanced analytics to discover trends and patterns in an organisations data. The steps involved in this process are the data preparation stage, visual analysis and guided advanced analytics.
In your organisation data can be stored in a huge number of locations – it could come from local servers, the cloud, different networks, CRM systems, finance systems, social media, the list goes on. Most organisations struggle to identify where their data is and even where their critical data is located! A good brainstorming session with the IT team can help you identify and locate every data source in your organisation.
Data is discovered is a multi-step process where the needs are identified working backwards from what data would be good to know. You can then combine data from the relevant sources, no single source of data will tell you the whole truth. Cleanse and prepare the data, this will help reduce the noise and give a clearer view on the view in the analysis. Analyse the data, this is where business leaders can extract the value from the multi-source data across the organisation and solve issues that can improve performance. Finally, record the learnings and iterate. Data discovery is an ongoing and always improving process that your organisation and leadership should be invested in.
Hopefully you can see that data discovery is an important and vital activity to ensure your organisation continues to grow and improve.
Digital Samurai would love to hear about your data discovery, at whatever stage you are at. We have the experts on hand who can help with every step along the process and can help you extract insights across your organisation that could lead to massive performance increases. Please free to get in touch with the team today.