Rising Digital Business Platforms to Steer Growth in Global Data Discovery Market

Data discovery is not a software or tool. It is a business analysis process where companies use a certain method to understand the dynamics of user behavior. With a large number of businesses migrating to the digital platform, it is imperative for them to understand user behavior. This is important because it will help companies define their strategies for future.

The global data discovery market has gained importance in the last few years. As online becomes the new normal, the global data discovery market will grow at a quicker pace. Online is an ocean of data, and today data forms the center of every decision-making process. Several companies across various business verticals are relying on data to decide their product lines and business plans. This key aspect is predicted to influence demand in the global data discovery market.

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While there are several business that are driven by technology, and have had a huge presence in the technology industry. But, there are businesses that are fresh to internet and are taking baby steps in adopting digital measures. For them, it will be difficult to adopt data discovery measures. This will create new and increasing opportunities for players in the global data discovery market.

Technologically Developed North America will Dominate the Global Data Discovery Market

North America is the most self-sufficient region when it comes to internet and technological infrastructure. Most businesses in this region have set up online interface and operate on digital medium. Hence, the use of data discovery has been increasing for the past few years here. This is considered to keep North America at the helm of global data discovery market. At the same time, Europe will continue to remain prominent for players in the global data discovery market.

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Data Discovery Market Leveraging Techniques by 2025

Global Data Discovery Market: Snapshot

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.

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Global Data Discovery Market: Overview

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.

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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.

Global Data Discovery Market: Trends in Focus 

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.

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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.

Global Data Discovery Market: Regional Insight 

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.

Global Data Discovery Market: Vendor Landscape 

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.

Data Discovery Tools to Provide One-Time Query in Business Processes

San Francisco, California, September 27, 2017: The drive for the data discovery market stems from the need for business intelligence tools across enterprises to answer queries at speed and with agility by pulling data from a variety of sources across an organization. The growing need for making fast one-time query for day-to-day business processes aimed to make smarter decisions is a key factor driving the data discovery market. The rising demand for easy-to-use business software and visualization tools to produce interactive reports to be used for different processes in data-driven businesses is a prominent trend expected to boost the market. A new report penned by TMR Research, titled “Data Discovery Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers in-depth evaluation of such trends and factors influencing the growth of the market.

The capability of data driven tools to answer ad-hoc questions with minimal technical expertise across business functions, such as sales and marketing, is a key factor likely to bolster their adoption. The rising demand for more interactive business intelligence tools across any organization is boosting the data discovery tools market. This has led to the demand for heat maps and pivot tables, which offers easy-to-digest representation of business data. Furthermore, the growing demand for easy management of high-volume and varied data sets is boosting the demand for such business tools.

The growing need among decision makers for discovering patterns and outliers to facilitate decision making in complex business environments is a key factor expected to boost the adoption of various data discovery tools. In addition, the growing demand by data savvy users for applications to visualize data patterns is also anticipated to catalyze the growth of the market. The rising investments among vendors as well as end-users in data discovery software is anticipated to accentuate the market.

The intensifying need for new business models among various enterprises is a key factor likely to catalyze the demand for data discovery tools. However, the limited functionality of data discovery tools to provide complete business analytics is a key factor likely to hamper the demand for such tools. Nevertheless, the adoption for visualization tools will expectedly witness wider demand owing to the crucial need for fast, one-time query for business processes. In recent years, the demand for standalone data discovery software and business tools with guided advanced analytics functionalities is gaining traction. This is anticipated to create exciting avenues for market players in various developing and developed regions.

The growing demand for data discovery methods that can integrate data preparation, big data analytics and business intelligence tools is a key trend anticipated to open up lucrative avenues for market players in various regions.

Geographically, North America is predicted to witness substantial adoption of data discovery tools and software. This is attributed to a rapid emergence of business intelligence tools and related technologies that can offer easy implementation. In addition, a marked presence of big players in this region is also accentuating the regional market. The growth of the regional market is expected to be fueled by spiraling investments in cloud-based solutions. Meanwhile, Asia Pacific is predicted to offer robust growth for market players in the foreseeable future, mainly driven by a number of early adopters.

Some of the key market players in the data discovery tools market are Datawatch Corporation, Tableau Software, TIBCO Software, SAP SE, Qlik Technologies, ClearStory Data, and Datameer Inc. Several players in the market opt for making collaborations and partnerships and are launching innovative products to gain a competitive edge over others.

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