How to Choose the Best Data Discovery Platforms for Crypto Projects

Are you a business leader looking for the best data discovery platform for crypto projects? 

Most dealers are often in positions where they need to make important business decisions. About 57% of companies use data and analytics for designing strategies and causing change. These business decisions will lead to more profits or cause a great loss. Plus, finding accurate information isn’t always easy. 

As the cryptocurrency industry continues to grow, so does the need for reliable data discovery platforms. Crypto projects need to access accurate, up-to-date data to make informed decisions and stay ahead of the competition.

In this article, we’ll share the effective ways of choosing a data discovery platform for crypto projects. 

What is Data Discovery?

Data discovery is the process of collecting and exploring data from diverse sources. It functions to help its users find recent trends and patterns. With its wide range of visual tools, it allows data exploration, which enables business executives to find outliers and hidden patterns that will help their organization make decisions. 

What’s the need for data discovery platforms?

Data discovery platforms are vital for several industries, like the crypto industry. Nearly 7 out of 10 enterprise organizations rate data discovery as extremely crucial. The crypto industry is a vast industry that’s largely data-dependent. 

A careful pick of the best data discovery platforms will help crypto investors make profitable decisions. Also, it’s important to make the best use of the data. Although there is a great amount of data arriving from many sources, they are not all necessary to conduct exploration and analytical tasks. 

Hence, leaders need to carefully select the information essential for making future judgments. Hence the need for data discovery platforms. With a data discovery platform, you’ll get all the data you need to invest in cryptocurrency and diversify your portfolio.

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How to choose the best data discovery platforms for crypto projects 

Crypto projects require data discovery platforms to collect and analyze data to make informed decisions.

Choosing the best data discovery platform is essential to ensure your crypto project is successful. Here are some tips to help you select the best data discovery platform for your crypto project.

  • Analyze your data needs 

Before you select a data discovery platform, you need to analyze the type and amount of data you need. Do you need historical data? How often do you need to access data? Is it essential that the data be up-to-date? As you answer these questions, you’ll narrow your choices and find the best data discovery platform suitable for your projects.

  • Understand the different types of platforms 

Many types of data discovery platforms are available for crypto projects. Some specialize in specific sectors, such as crypto markets, while others provide more general insights. Depending on your project, you will want to look into different types of platforms to find the best one for your data needs.

  • Consider your budget 

Data discovery platforms can range from free options to expensive enterprise solutions. Before you start looking at different platforms, consider your budget for the project to know the amount you’re willing to spend to access data. 

  • Choose Platforms that Integrate with your existing tools 

If you already have certain data analysis tools in place, you will want to look for data discovery platforms that integrate with those tools. It will save you time and money, as it allows you to quickly access the data you need without having to switch between different platforms.

  • Check for platform reviews 

Finally, before you select a data discovery platform, it’s important to read reviews and find out what other users have to say. This will give you an idea of how reliable the platform is and how well it meets your data needs. It’s also a good idea to check customer support options and find out if the platform provides assistance or tutorials.

Top discovery platforms for crypto projects 

Let’s see the recent data discovery platforms for crypto projects:

  • Osano 

Osano is a widely used data platform. It provides the highest volume of data and is the fastest and most reliable data privacy platform in the world.

Osano is an intuitive tool that connects to platforms and databases regardless of their location. 

It employs machine learning technology to identify and classify data and present it in perceptive dashboards and reports. 

Osano automatically detects, categorizes, and filters data regardless of where it is stored—on-premises or in the cloud—and is simple to connect to databases and platforms with a few clicks.

For instance, via its machine learning technology, SaaS providers will check API endpoints to specify if any personal data is transferred. When the information is shared, it will classify that data into one of over 160 different categories.

The tool’s setup and installation are simple, and users get set to use it in less than an hour. Once everything is set up, its AI-driven automatic classification will quickly identify more than 70 different types of sensitive data and personal information.

  • Informatica

Generally, data can’t be found in one place, especially for crypto projects. Informatica provides a data catalog that is powered by AI.

Informatica enables scanning and indexing of metadata, data discovery and profiling, and comprehensive lineage across the data sets of an organization.

With Informatica, Crypto projects will extract, transform, and load (ETL) systems, and third-party metadata catalogs. Plus business intelligence (BI) tools and other multi-cloud platforms will be scanned automatically. It follows data migration, from high-level system views to granular column-level lineage, and obtains thorough effect analyses. It operates with a variety of data formats with ease.

Plus, Informatica offers sophisticated data dependency tracking to make it easier to comprehend how the data from diverse sources is transformed.

  • Tableau 

It provides multiple options for easy data compilation and structuring. Tableau is a business intelligence-focused data visualization program (BI). The solution provides a rapid, flexible, scalable, and secure visual analytics platform that makes it easier for users to see and comprehend data.

It improves an organization’s ability to store and process data, prepare and transform data, catalog and manage enterprise metadata, accelerate queries, and other functions.

What are the features of a great data discovery platform

Here are a few features to look out for while selecting a data discovery tool:

  • Ease of use

A great tool is always simple to set up and use. A data discovery tool must also be user-friendly for tech and non-technical individuals. Users need to navigate the dashboards and get the information they require immediately.

  • Capacity for discovery 

Data needs to be able to be tracked no matter where it’s stored. Whether it is on-premises or in the cloud the data needs to appear on its dashboards.

  • Big data processing ability 

Since data discovery platforms store more data, most businesses utilize them for their operations. Thus, a successful data discovery tool has to quickly and easily locate, analyze, and show data.

  • Understanding data types 

The tool has to recognize data types regardless of their storage format, even if they are corrupted or lack certain properties.

  • Present data in illuminating dashboards 

The reports and dashboards produced with the data discovered ought to facilitate quick and informed decision-making.

  • Collaborative capabilities 

A smart data discovery platform makes it simple for stakeholders to share dashboards and reports.

  • The cost 

The data platform will have to prioritize affordability and a favorable return on investment (ROI) for the investors. 

Streamline your crypto projects with the best data discovery platform 

Choosing the best data discovery platform for your crypto project is a daunting task. However, with these tips, you will find the best platform that suits your data needs and match your budget. 

When you utilize the right platform, you’ll ensure your crypto project is based on informed decisions. Hence, you’re sure to increase your investment and grow your income.

FAQ on how to choose data discovery platforms for crypto projects 

  • Why do we need data discovery?

Data discovery is essential to collect and organize fresh data for evaluation and research. In the absence of data discovery methods and solutions, working with new data will get shabby and stressful.

  • How will data discovery platforms help my crypto project?

Data discovery platforms will help crypto projects keep track of their data and its security. This will ensure they stay compliant with crypto regulations.

  • What is smart data discovery? 

Businesses that conduct smart data discovery use advanced analytics to cater for business leaders without data expertise.

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