Visual data discovery tools help organizations make sense of analytics
Every day enterprises are finding new ways to glean insights from information through data analysis, and visual data discovery products can be valuable additions to the analytics toolbox.
Visual data discovery involves using visualizations and visual exploration of data to find new insights that can help the business. Organizations can perform data analyses in real time by using processes such as in-memory computing and the fusion of multiple data sources.
Visual data discovery can go well beyond traditional pie and bar charts to deliver a new level of visual aids.
More companies are embracing the technology, based on recent industry research. For example, a report by AllTheResearch released in May 2019 said the global visual data discovery market is expected to grow at a compound annual growth rate (CAGR) of about 20 percent for the forecast period through 2023.
“Organizations have access to large volumes of data that can be optimized to make relevant business strategies, in order to improve business prospects,” the report noted. But owing to the large volume of data available, it’s difficult for organizations to translate data into information.
That’s where visual data analytics comes in, by integrating data from various sources and making use of graphs, patterns, and trends to inform practical business decisions.