Data Discovery Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Data discovery is one of the more crucial processes in the process of business intelligence. The key intention of data discovery is to the produce and use reports of an interactive nature that can be used to generate and explore data coming in from multiple sources. This is essentially a user-driven process that involves finding patterns and particular objects within a data set. Some of the visual tools used in data discovery include heat maps, pivot tables, and regional maps, all of which can make the overall process of identifying data patterns a lot faster and more instinctive. Data discovery is therefore a method to help users gather all the facts that they require to perform their jobs in a more efficient and confident manner.
Data discovery can also imply processes in front end analytics as well as information management processes. In each circumstance, the basis remains the same: a user that has any query regarding their process or function relevant to the overall process shall receive an answer that is simple as well as highly intuitive, without the user spending too much time on it. One of the key advantages that data discovery tools is that they make the process very fast. It is the primary intention of using data discovery tools: to give immediate and accurate answers in the simplest way possible. The data can also be presented in a manner where only conclusions can be seen, without the user having to go through all the research and went behind the scenes.
Data discovery refers to an architecture of business intelligence aimed at developing and employing interactive reports and data from various different sources. Data discovery is process which is driven basically by the user and is required for searching patterns or precise items in a set of data. Applications of data discovery employ visual tools such as heat-maps, pivot-tables, and geographical maps in order to ease down the process of pattern and item exploration and make it more intuitive. Data discovery is known for leveraging techniques of data and statistical mining techniques in order to accomplish the aforesaid goals.
Data discovery can also be defined as a type of platform for decision–making which refines, structures, and assimilates data. Data discovery is being preferred over traditional business intelligence tools across the globe as the traditional tools cannot be accessed and used without the assistance of a technical staff. Data discovery is at times also referred to as a form of business intelligence that provides the end user with an application to visualize data.
The market intelligence publication delves into the possible growth opportunities for the global data discovery market and the chronological growth of the market throughout the forecast period. It also uniquely provisions required data related to facers such as dynamics influencing the progress in all possible retrospective manner. Several ubiquitous and non-ubiquitous trends have also been mentioned in the study. An outlook of extensive nature keeping in mind the Porter’s five forces analysis has been provided to make the vendor landscape transparent to the reader. The report further reaches out to point out accomplishments related to R&D, acquisitions, mergers, and crucial partnerships and verifications. The companies in limelight have been analyzed on market shares, products, and key strategies.
The global market for data discovery is expected to witness an extensive growth during the forecast period owing to factors such as the trend of self-service BI tools gaining traction and engendering insights and discovering g new trends from the growing volume of data. The challenges that this market is likely to face are privacy and security concerns and shift in preferences to new systems from the traditional form of architecture. The indistinct Return on Investment is likely to restrain the market growth over the coming years.
Based on types, the segment of data discovery software is anticipated gain prominence in the data discovery market in the near future. Data discovery software make sure that the data fits in properly in a specific user-specific undertaking and is precise and punctual. Data discovery software comprises software platforms or applications which can be employed in the implementation of data discovery solutions. Vendors in the data discovery market also deliver standalone software, which is a comprehensive solution for the purpose of analyzing and taking action on real-time business proceedings. The software sieves the amassed and augmented data, so that it can be evaluated in order to provide an enhanced throughput from various multiple sources of input data.
The region that is expected to gain maximum advantage in the global data discovery market is North America owing to high investments in cloud-based solutions, easy and early implementation of emerging technologies, and the presence of numerous players in the region. In spite of being in the nascent stage, Asia Pacific is likely to register strong growth over the coming years.
Some of the leading participants in the data discovery market are ClearStory Data, Qlik Technologies, Datameer Inc., SAP SE, TIBCO Software, Datawatch Corporation, and Tableau Software. These vendors are opting for different strategies such as collaborations, partnerships, and launch of new products to expand their contributions in the market.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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