Tableau does not currently support binary data in the way that it sounds you'd like it to, and I'm unaware of any third party tool. The best option may be to put the understandable format into it's own MySQL table or database of it's own. Then, connect to it. Might make a good one for the Ideas section--make sure to explain your use case!
Thanks for your immediate response. The reason why I'm not storing the converted data is that the algorithms that read data for conversions makes the file sizer 50 times more than the actual which in real time is not suggestible, hence I'm just making converted data display directly on my portals.
Also, does Tableau support double datatype?
Could you export your proprietary binary format in ASCII? If the answer is yes then you can connect Tableau through ODBC to a csv/tsv file stored on a compressed disk.
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Consider building your algorithm as a UDF on the MySQL database. You can then invoke that UDF from Tableau using RAWSQL_STRING() or in a Custom SQL connection, allowing Tableau to work with the nice string representation of your data.
Could you please elaborate and explain me exactly how this can be achieved. If you could share any workbook or sample code that works with RAWSQL_STRING(), it would be of great help to me. Your response is really appreciated.