🕵️‍♂️Discovery Insights

Discover hidden insights from your Search and Vizpad charts

Discovery Insights is a type of Insight that allows users to uncover hidden patterns, identify anomalies, and understand correlations within their data. They can be triggered only from Search and Vizpad charts.

Why choose Discovery Insights?

• Identify patterns: By analyzing trends, you can observe how metrics change over time, revealing opportunities for growth and areas needing attention.

• Spot anomalies: Look into anomalies to find root causes or validate their impact on your business.

• Understand relationships: Grasp how different variables interact with each other, which can support your decision-making processes.

Components of Discovery Insights

Anomalies

• Anomalies, or outliers, are data points that deviate significantly from the overall pattern of data.

• These could be unusually high or low sales for a particular month, product, or region that doesn’t fit the expected norm based on historical trends.

• This lets you quickly respond to potential issues or capitalize on unexpected opportunities.

• You may find, for example, that a certain month had unexpectedly high sales, or a specific sub-category or region had sales figures that were much different than what would be predicted based on other data.

• They are typically marked on graphs to distinguish them from the regular data pattern.

Trends

• Trends section focuses on identifying patterns within the data over a specified time period.

• When you ask “Show monthly sales”, the trend analysis will look at the sales figures across each month to determine if there are any consistent movements or shifts that are worth noting.

• Reveals the movement of your key metrics over a period, showing growth, decline, or cyclical patterns.

• Helps predict future performance based on past trends and plan for seasonal fluctuations or market changes.

• They are often displayed using line graphs to show the trajectory of the data over time.

Correlations

• The correlation section investigates the relationship between two variables to see if changes in one can be associated with changes in the other.

• Scatter plots with regression lines indicate the strength and direction of the relationship.

• If there’s a positive correlation, as sales increase, so does the shipping cost. The closer the data points are to the regression line, the stronger the correlation.

In essence, Discovery Insights are more exploratory, offering a broad sweep of the data to surface potential areas of interest without necessarily diving deep into the causes or implications. Conversely, Trend, Key Driver, and Comparison Insights provide a more targeted analysis, often used to answer specific business questions or inform strategic decisions with a deeper understanding of underlying causes and effects.