diff --git a/packages/grafana-runtime/src/services/dataSourceSrv.ts b/packages/grafana-runtime/src/services/dataSourceSrv.ts
index 225ca76cd31..db4eb57b453 100644
--- a/packages/grafana-runtime/src/services/dataSourceSrv.ts
+++ b/packages/grafana-runtime/src/services/dataSourceSrv.ts
@@ -13,7 +13,7 @@ export interface DataSourceSrv {
    * @param name - name of the datasource plugin you want to use.
    * @param scopedVars - variables used to interpolate a templated passed as name.
    */
-  get(name?: string, scopedVars?: ScopedVars): Promise<DataSourceApi>;
+  get(name?: string | null, scopedVars?: ScopedVars): Promise<DataSourceApi>;
 
   /**
    * Returns metadata based on UID.
diff --git a/public/app/features/dashboard/components/Inspector/InspectContent.tsx b/public/app/features/dashboard/components/Inspector/InspectContent.tsx
new file mode 100644
index 00000000000..b93a1ea2437
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/InspectContent.tsx
@@ -0,0 +1,100 @@
+import React, { useState } from 'react';
+import { getPanelInspectorStyles } from './styles';
+import { CustomScrollbar, Drawer, TabContent } from '@grafana/ui';
+import { InspectSubtitle } from './InspectSubtitle';
+import { InspectDataTab } from './InspectDataTab';
+import { InspectMetadataTab } from './InspectMetadataTab';
+import { InspectJSONTab } from './InspectJSONTab';
+import { InspectErrorTab } from './InspectErrorTab';
+import { InspectStatsTab } from './InspectStatsTab';
+import { QueryInspector } from './QueryInspector';
+import { InspectTab } from './types';
+import { DashboardModel, PanelModel } from '../../state';
+import { DataSourceApi, PanelData, PanelPlugin } from '@grafana/data';
+import { GetDataOptions } from '../../state/PanelQueryRunner';
+
+interface Props {
+  dashboard: DashboardModel;
+  panel: PanelModel;
+  plugin?: PanelPlugin | null;
+  defaultTab: InspectTab;
+  tabs: Array<{ label: string; value: InspectTab }>;
+  // The last raw response
+  data?: PanelData;
+  isDataLoading: boolean;
+  dataOptions: GetDataOptions;
+  // If the datasource supports custom metadata
+  metadataDatasource?: DataSourceApi;
+  onDataOptionsChange: (options: GetDataOptions) => void;
+  onClose: () => void;
+}
+
+export const InspectContent: React.FC<Props> = ({
+  panel,
+  plugin,
+  dashboard,
+  tabs,
+  data,
+  isDataLoading,
+  dataOptions,
+  metadataDatasource,
+  defaultTab,
+  onDataOptionsChange,
+  onClose,
+}) => {
+  const [currentTab, setCurrentTab] = useState(defaultTab ?? InspectTab.Data);
+
+  if (!plugin) {
+    return null;
+  }
+
+  const styles = getPanelInspectorStyles();
+  const error = data?.error;
+
+  // Validate that the active tab is actually valid and allowed
+  let activeTab = currentTab;
+  if (!tabs.find(item => item.value === currentTab)) {
+    activeTab = InspectTab.JSON;
+  }
+
+  return (
+    <Drawer
+      title={`Inspect: ${panel.title}` || 'Panel inspect'}
+      subtitle={
+        <InspectSubtitle
+          tabs={tabs}
+          tab={activeTab}
+          data={data}
+          onSelectTab={item => setCurrentTab(item.value || InspectTab.Data)}
+        />
+      }
+      width="50%"
+      onClose={onClose}
+      expandable
+    >
+      {activeTab === InspectTab.Data && (
+        <InspectDataTab
+          panel={panel}
+          data={data && data.series}
+          isLoading={isDataLoading}
+          options={dataOptions}
+          onOptionsChange={onDataOptionsChange}
+        />
+      )}
+      <CustomScrollbar autoHeightMin="100%">
+        <TabContent className={styles.tabContent}>
+          {data && activeTab === InspectTab.Meta && (
+            <InspectMetadataTab data={data} metadataDatasource={metadataDatasource} />
+          )}
+
+          {activeTab === InspectTab.JSON && (
+            <InspectJSONTab panel={panel} dashboard={dashboard} data={data} onClose={onClose} />
+          )}
+          {activeTab === InspectTab.Error && <InspectErrorTab error={error} />}
+          {data && activeTab === InspectTab.Stats && <InspectStatsTab data={data} dashboard={dashboard} />}
+          {data && activeTab === InspectTab.Query && <QueryInspector panel={panel} data={data.series} />}
+        </TabContent>
+      </CustomScrollbar>
+    </Drawer>
+  );
+};
diff --git a/public/app/features/dashboard/components/Inspector/InspectDataTab.tsx b/public/app/features/dashboard/components/Inspector/InspectDataTab.tsx
index 6622dcaa2e2..c0e097e1cb6 100644
--- a/public/app/features/dashboard/components/Inspector/InspectDataTab.tsx
+++ b/public/app/features/dashboard/components/Inspector/InspectDataTab.tsx
@@ -14,7 +14,17 @@ import {
   DisplayProcessor,
   getDisplayProcessor,
 } from '@grafana/data';
-import { Button, Field, Icon, LegacyForms, Select, Table } from '@grafana/ui';
+import {
+  Button,
+  Container,
+  Field,
+  HorizontalGroup,
+  Icon,
+  LegacyForms,
+  Select,
+  Table,
+  VerticalGroup,
+} from '@grafana/ui';
 import { selectors } from '@grafana/e2e-selectors';
 import AutoSizer from 'react-virtualized-auto-sizer';
 
@@ -23,15 +33,13 @@ import { config } from 'app/core/config';
 import { saveAs } from 'file-saver';
 import { css, cx } from 'emotion';
 import { GetDataOptions } from '../../state/PanelQueryRunner';
-import { QueryOperationRow } from 'app/core/components/QueryOperationRow/QueryOperationRow';
-import { DashboardModel, PanelModel } from 'app/features/dashboard/state';
-
+import { QueryOperationRow } from '../../../../core/components/QueryOperationRow/QueryOperationRow';
+import { PanelModel } from '../../state';
 const { Switch } = LegacyForms;
 
 interface Props {
-  dashboard: DashboardModel;
   panel: PanelModel;
-  data: DataFrame[];
+  data?: DataFrame[];
   isLoading: boolean;
   options: GetDataOptions;
   onOptionsChange: (options: GetDataOptions) => void;
@@ -187,7 +195,7 @@ export class InspectDataTab extends PureComponent<Props, State> {
   };
 
   render() {
-    const { isLoading, data } = this.props;
+    const { isLoading, data, options, onOptionsChange } = this.props;
     const { dataFrameIndex, transformId, transformationOptions } = this.state;
     const styles = getPanelInspectorStyles();
 
@@ -212,48 +220,77 @@ export class InspectDataTab extends PureComponent<Props, State> {
       };
     });
 
+    const panelTransformations = this.props.panel.getTransformations();
+
     return (
       <div className={styles.dataTabContent} aria-label={selectors.components.PanelInspector.Data.content}>
-        <div className={styles.actionsWrapper}>
-          <div className={styles.leftActions}>
-            <div className={styles.selects}>
-              {data.length > 1 && (
-                <Field
-                  label="Transformer"
-                  className={css`
-                    margin-bottom: 0;
-                  `}
-                >
-                  <Select
-                    options={transformationOptions}
-                    value={transformId}
-                    onChange={this.onTransformationChange}
-                    width={15}
+        <Container>
+          <VerticalGroup spacing={'md'}>
+            <HorizontalGroup justify={'space-between'} align={'flex-end'} wrap>
+              <HorizontalGroup>
+                {data.length > 1 && (
+                  <Container grow={1}>
+                    <Field
+                      label="Transformer"
+                      className={css`
+                        margin-bottom: 0;
+                      `}
+                    >
+                      <Select
+                        options={transformationOptions}
+                        value={transformId}
+                        onChange={this.onTransformationChange}
+                        width={15}
+                      />
+                    </Field>
+                  </Container>
+                )}
+                {choices.length > 1 && (
+                  <Container grow={1}>
+                    <Field
+                      label="Select result"
+                      className={css`
+                        margin-bottom: 0;
+                      `}
+                    >
+                      <Select options={choices} value={dataFrameIndex} onChange={this.onSelectedFrameChanged} />
+                    </Field>
+                  </Container>
+                )}
+              </HorizontalGroup>
+
+              <Button variant="primary" onClick={() => this.exportCsv(dataFrames[dataFrameIndex])}>
+                Download CSV
+              </Button>
+            </HorizontalGroup>
+            <Container grow={1}>
+              <QueryOperationRow title={'Data display options'} isOpen={false}>
+                {panelTransformations && panelTransformations.length > 0 && (
+                  <div className="gf-form-inline">
+                    <Switch
+                      tooltip="Data shown in the table will be transformed using transformations defined in the panel"
+                      label="Apply panel transformations"
+                      labelClass="width-12"
+                      checked={!!options.withTransforms}
+                      onChange={() => onOptionsChange({ ...options, withTransforms: !options.withTransforms })}
+                    />
+                  </div>
+                )}
+                <div className="gf-form-inline">
+                  <Switch
+                    tooltip="Data shown in the table will have panel field configuration applied, for example units or title"
+                    label="Apply field configuration"
+                    labelClass="width-12"
+                    checked={!!options.withFieldConfig}
+                    onChange={() => onOptionsChange({ ...options, withFieldConfig: !options.withFieldConfig })}
                   />
-                </Field>
-              )}
-              {choices.length > 1 && (
-                <Field
-                  label="Select result"
-                  className={css`
-                    margin-bottom: 0;
-                  `}
-                >
-                  <Select options={choices} value={dataFrameIndex} onChange={this.onSelectedFrameChanged} width={30} />
-                </Field>
-              )}
-            </div>
-            {this.renderDataOptions()}
-          </div>
-
-          <div className={styles.options}>
-            <Button variant="primary" onClick={() => this.exportCsv(dataFrames[dataFrameIndex])}>
-              Download CSV
-            </Button>
-          </div>
-        </div>
+                </div>
+              </QueryOperationRow>
+            </Container>
+          </VerticalGroup>
+        </Container>
 
-        <div style={{ flexGrow: 1 }}>
+        <Container grow={1}>
           <AutoSizer>
             {({ width, height }) => {
               if (width === 0) {
@@ -267,7 +304,7 @@ export class InspectDataTab extends PureComponent<Props, State> {
               );
             }}
           </AutoSizer>
-        </div>
+        </Container>
       </div>
     );
   }
diff --git a/public/app/features/dashboard/components/Inspector/InspectErrorTab.tsx b/public/app/features/dashboard/components/Inspector/InspectErrorTab.tsx
new file mode 100644
index 00000000000..dcb00122cf5
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/InspectErrorTab.tsx
@@ -0,0 +1,22 @@
+import React from 'react';
+import { DataQueryError } from '@grafana/data';
+import { JSONFormatter } from '@grafana/ui';
+
+interface InspectErrorTabProps {
+  error?: DataQueryError;
+}
+
+export const InspectErrorTab: React.FC<InspectErrorTabProps> = ({ error }) => {
+  if (!error) {
+    return null;
+  }
+  if (error.data) {
+    return (
+      <>
+        <h3>{error.data.message}</h3>
+        <JSONFormatter json={error} open={2} />
+      </>
+    );
+  }
+  return <div>{error.message}</div>;
+};
diff --git a/public/app/features/dashboard/components/Inspector/InspectMetadataTab.tsx b/public/app/features/dashboard/components/Inspector/InspectMetadataTab.tsx
new file mode 100644
index 00000000000..a3ab5bda303
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/InspectMetadataTab.tsx
@@ -0,0 +1,13 @@
+import React from 'react';
+import { DataSourceApi, PanelData } from '@grafana/data';
+
+interface InspectMetadataTabProps {
+  data: PanelData;
+  metadataDatasource?: DataSourceApi;
+}
+export const InspectMetadataTab: React.FC<InspectMetadataTabProps> = ({ data, metadataDatasource }) => {
+  if (!metadataDatasource || !metadataDatasource.components?.MetadataInspector) {
+    return <div>No Metadata Inspector</div>;
+  }
+  return <metadataDatasource.components.MetadataInspector datasource={metadataDatasource} data={data.series} />;
+};
diff --git a/public/app/features/dashboard/components/Inspector/InspectStatsTab.tsx b/public/app/features/dashboard/components/Inspector/InspectStatsTab.tsx
new file mode 100644
index 00000000000..c487181cf42
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/InspectStatsTab.tsx
@@ -0,0 +1,45 @@
+import { PanelData, QueryResultMetaStat } from '@grafana/data';
+import { selectors } from '@grafana/e2e-selectors';
+import { InspectStatsTable } from './InspectStatsTable';
+import React from 'react';
+import { DashboardModel } from 'app/features/dashboard/state';
+
+interface InspectStatsTabProps {
+  data: PanelData;
+  dashboard: DashboardModel;
+}
+export const InspectStatsTab: React.FC<InspectStatsTabProps> = ({ data, dashboard }) => {
+  if (!data.request) {
+    return null;
+  }
+
+  let stats: QueryResultMetaStat[] = [];
+
+  const requestTime = data.request.endTime ? data.request.endTime - data.request.startTime : -1;
+  const processingTime = data.timings?.dataProcessingTime || -1;
+  let dataRows = 0;
+
+  for (const frame of data.series) {
+    dataRows += frame.length;
+  }
+
+  stats.push({ displayName: 'Total request time', value: requestTime, unit: 'ms' });
+  stats.push({ displayName: 'Data processing time', value: processingTime, unit: 'ms' });
+  stats.push({ displayName: 'Number of queries', value: data.request.targets.length });
+  stats.push({ displayName: 'Total number rows', value: dataRows });
+
+  let dataStats: QueryResultMetaStat[] = [];
+
+  for (const series of data.series) {
+    if (series.meta && series.meta.stats) {
+      dataStats = dataStats.concat(series.meta.stats);
+    }
+  }
+
+  return (
+    <div aria-label={selectors.components.PanelInspector.Stats.content}>
+      <InspectStatsTable dashboard={dashboard} name={'Stats'} stats={stats} />
+      <InspectStatsTable dashboard={dashboard} name={'Data source stats'} stats={dataStats} />
+    </div>
+  );
+};
diff --git a/public/app/features/dashboard/components/Inspector/InspectStatsTable.tsx b/public/app/features/dashboard/components/Inspector/InspectStatsTable.tsx
new file mode 100644
index 00000000000..9778f30ca4e
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/InspectStatsTable.tsx
@@ -0,0 +1,68 @@
+import React from 'react';
+import {
+  FieldType,
+  formattedValueToString,
+  getDisplayProcessor,
+  GrafanaTheme,
+  QueryResultMetaStat,
+  TimeZone,
+} from '@grafana/data';
+import { DashboardModel } from 'app/features/dashboard/state';
+import { config } from 'app/core/config';
+import { stylesFactory, useTheme } from '@grafana/ui';
+import { css } from 'emotion';
+
+interface InspectStatsTableProps {
+  dashboard: DashboardModel;
+  name: string;
+  stats: QueryResultMetaStat[];
+}
+export const InspectStatsTable: React.FC<InspectStatsTableProps> = ({ dashboard, name, stats }) => {
+  const theme = useTheme();
+  const styles = getStyles(theme);
+
+  if (!stats || !stats.length) {
+    return null;
+  }
+
+  return (
+    <div className={styles.wrapper}>
+      <div className="section-heading">{name}</div>
+      <table className="filter-table width-30">
+        <tbody>
+          {stats.map((stat, index) => {
+            return (
+              <tr key={`${stat.displayName}-${index}`}>
+                <td>{stat.displayName}</td>
+                <td className={styles.cell}>{formatStat(stat, dashboard.getTimezone())}</td>
+              </tr>
+            );
+          })}
+        </tbody>
+      </table>
+    </div>
+  );
+};
+
+function formatStat(stat: QueryResultMetaStat, timeZone?: TimeZone): string {
+  const display = getDisplayProcessor({
+    field: {
+      type: FieldType.number,
+      config: stat,
+    },
+    theme: config.theme,
+    timeZone,
+  });
+  return formattedValueToString(display(stat.value));
+}
+
+const getStyles = stylesFactory((theme: GrafanaTheme) => {
+  return {
+    wrapper: css`
+      padding-bottom: ${theme.spacing.md};
+    `,
+    cell: css`
+      text-align: right;
+    `,
+  };
+});
diff --git a/public/app/features/dashboard/components/Inspector/InspectSubtitle.tsx b/public/app/features/dashboard/components/Inspector/InspectSubtitle.tsx
index 4c7822e1ab7..98b555ac14b 100644
--- a/public/app/features/dashboard/components/Inspector/InspectSubtitle.tsx
+++ b/public/app/features/dashboard/components/Inspector/InspectSubtitle.tsx
@@ -2,22 +2,22 @@ import React, { FC } from 'react';
 import { css } from 'emotion';
 import { stylesFactory, Tab, TabsBar, useTheme } from '@grafana/ui';
 import { GrafanaTheme, SelectableValue, PanelData, getValueFormat, formattedValueToString } from '@grafana/data';
-import { InspectTab } from './PanelInspector';
+import { InspectTab } from './types';
 
 interface Props {
   tab: InspectTab;
   tabs: Array<{ label: string; value: InspectTab }>;
-  panelData: PanelData;
+  data?: PanelData;
   onSelectTab: (tab: SelectableValue<InspectTab>) => void;
 }
 
-export const InspectSubtitle: FC<Props> = ({ tab, tabs, onSelectTab, panelData }) => {
+export const InspectSubtitle: FC<Props> = ({ tab, tabs, onSelectTab, data }) => {
   const theme = useTheme();
   const styles = getStyles(theme);
 
   return (
     <>
-      <div className="muted">{formatStats(panelData)}</div>
+      {data && <div className="muted">{formatStats(data)}</div>}
       <TabsBar className={styles.tabsBar}>
         {tabs.map((t, index) => {
           return (
@@ -43,8 +43,8 @@ const getStyles = stylesFactory((theme: GrafanaTheme) => {
   };
 });
 
-function formatStats(panelData: PanelData) {
-  const { request } = panelData;
+function formatStats(data: PanelData) {
+  const { request } = data;
   if (!request) {
     return '';
   }
diff --git a/public/app/features/dashboard/components/Inspector/PanelInspector.tsx b/public/app/features/dashboard/components/Inspector/PanelInspector.tsx
index 974eb0b9f49..c3f24862bce 100644
--- a/public/app/features/dashboard/components/Inspector/PanelInspector.tsx
+++ b/public/app/features/dashboard/components/Inspector/PanelInspector.tsx
@@ -1,34 +1,16 @@
-import React, { PureComponent } from 'react';
-import { Unsubscribable } from 'rxjs';
-import { connect, MapStateToProps } from 'react-redux';
-import { InspectSubtitle } from './InspectSubtitle';
-import { InspectJSONTab } from './InspectJSONTab';
-import { QueryInspector } from './QueryInspector';
+import React, { useCallback, useState } from 'react';
+import { connect, MapStateToProps, useDispatch } from 'react-redux';
 
 import { DashboardModel, PanelModel } from 'app/features/dashboard/state';
-import { CustomScrollbar, Drawer, JSONFormatter, TabContent } from '@grafana/ui';
-import { selectors } from '@grafana/e2e-selectors';
-import { getDataSourceSrv, getLocationSrv } from '@grafana/runtime';
-import {
-  DataFrame,
-  DataQueryError,
-  DataSourceApi,
-  FieldType,
-  formattedValueToString,
-  getDisplayProcessor,
-  LoadingState,
-  PanelData,
-  PanelPlugin,
-  QueryResultMetaStat,
-  SelectableValue,
-  TimeZone,
-} from '@grafana/data';
-import { config } from 'app/core/config';
-import { getPanelInspectorStyles } from './styles';
+
+import { PanelPlugin } from '@grafana/data';
 import { StoreState } from 'app/types';
-import { InspectDataTab } from './InspectDataTab';
-import { supportsDataQuery } from '../PanelEditor/utils';
 import { GetDataOptions } from '../../state/PanelQueryRunner';
+import { usePanelLatestData } from '../PanelEditor/usePanelLatestData';
+import { InspectContent } from './InspectContent';
+import { useDatasourceMetadata, useInspectTabs } from './hooks';
+import { InspectTab } from './types';
+import { updateLocation } from 'app/core/actions';
 
 interface OwnProps {
   dashboard: DashboardModel;
@@ -42,337 +24,44 @@ export interface ConnectedProps {
 
 export type Props = OwnProps & ConnectedProps;
 
-export enum InspectTab {
-  Data = 'data',
-  Meta = 'meta', // When result metadata exists
-  Error = 'error',
-  Stats = 'stats',
-  JSON = 'json',
-  Query = 'query',
-}
-
-interface State {
-  isLoading: boolean;
-  // The last raw response
-  last: PanelData;
-  // Data from the last response
-  data: DataFrame[];
-  // The Selected Tab
-  currentTab: InspectTab;
-  // If the datasource supports custom metadata
-  metaDS?: DataSourceApi;
-  // drawer width
-  drawerWidth: string;
-  withTransforms: boolean;
-  withFieldConfig: boolean;
-}
-
-export class PanelInspectorUnconnected extends PureComponent<Props, State> {
-  querySubscription?: Unsubscribable;
-
-  constructor(props: Props) {
-    super(props);
-
-    this.state = {
-      isLoading: true,
-      last: {} as PanelData,
-      data: [],
-      currentTab: props.defaultTab ?? InspectTab.Data,
-      drawerWidth: '50%',
-      withTransforms: true,
-      withFieldConfig: false,
-    };
-  }
-
-  componentDidMount() {
-    const { plugin } = this.props;
-
-    if (plugin) {
-      this.init();
-    }
-  }
-
-  componentDidUpdate(prevProps: Props, prevState: State) {
-    if (
-      prevProps.plugin !== this.props.plugin ||
-      this.state.withTransforms !== prevState.withTransforms ||
-      this.state.withFieldConfig !== prevState.withFieldConfig
-    ) {
-      this.init();
-    }
-  }
-
-  /**
-   * This init process where we do not have a plugin to start with is to handle full page reloads with inspect url parameter
-   * When this inspect drawer loads the plugin is not yet loaded.
-   */
-  init() {
-    const { plugin, panel } = this.props;
-    const { withTransforms, withFieldConfig } = this.state;
-
-    if (plugin && !plugin.meta.skipDataQuery) {
-      if (this.querySubscription) {
-        this.querySubscription.unsubscribe();
-      }
-      this.querySubscription = panel
-        .getQueryRunner()
-        .getData({ withTransforms, withFieldConfig })
-        .subscribe({
-          next: data => this.onUpdateData(data),
-        });
-    }
-  }
-
-  componentWillUnmount() {
-    if (this.querySubscription) {
-      this.querySubscription.unsubscribe();
-    }
-  }
-
-  async onUpdateData(lastResult: PanelData) {
-    let metaDS: DataSourceApi;
-    const data = lastResult.series;
-    const error = lastResult.error;
-
-    const targets = lastResult.request?.targets || [];
-
-    // Find the first DataSource wanting to show custom metadata
-    if (data && targets.length) {
-      for (const frame of data) {
-        if (frame.meta && frame.meta.custom) {
-          // get data source from first query
-          const dataSource = await getDataSourceSrv().get(targets[0].datasource);
-
-          if (dataSource && dataSource.components?.MetadataInspector) {
-            metaDS = dataSource;
-            break;
-          }
-        }
-      }
-    }
-
-    // Set last result, but no metadata inspector
-    this.setState(prevState => ({
-      isLoading: lastResult.state === LoadingState.Loading,
-      last: lastResult,
-      data,
-      metaDS,
-      currentTab: error ? InspectTab.Error : prevState.currentTab,
-    }));
-  }
-
-  onClose = () => {
-    getLocationSrv().update({
-      query: { inspect: null, inspectTab: null },
-      partial: true,
-    });
-  };
-
-  onToggleExpand = () => {
-    this.setState(prevState => ({
-      drawerWidth: prevState.drawerWidth === '100%' ? '40%' : '100%',
-    }));
-  };
-
-  onSelectTab = (item: SelectableValue<InspectTab>) => {
-    this.setState({ currentTab: item.value || InspectTab.Data });
-  };
-  onDataTabOptionsChange = (options: GetDataOptions) => {
-    this.setState({ withTransforms: !!options.withTransforms, withFieldConfig: !!options.withFieldConfig });
-  };
-
-  renderMetadataInspector() {
-    const { metaDS, data } = this.state;
-    if (!metaDS || !metaDS.components?.MetadataInspector) {
-      return <div>No Metadata Inspector</div>;
-    }
-    return <metaDS.components.MetadataInspector datasource={metaDS} data={data} />;
-  }
-
-  renderDataTab() {
-    const { last, isLoading, withFieldConfig, withTransforms } = this.state;
-    return (
-      <InspectDataTab
-        dashboard={this.props.dashboard}
-        panel={this.props.panel}
-        data={last.series}
-        isLoading={isLoading}
-        options={{
-          withFieldConfig,
-          withTransforms,
-        }}
-        onOptionsChange={this.onDataTabOptionsChange}
-      />
-    );
-  }
-
-  renderErrorTab(error?: DataQueryError) {
-    if (!error) {
-      return null;
-    }
-    if (error.data) {
-      return (
-        <>
-          <h3>{error.data.message}</h3>
-          <JSONFormatter json={error} open={2} />
-        </>
-      );
-    }
-    return <div>{error.message}</div>;
-  }
-
-  renderStatsTab() {
-    const { last } = this.state;
-    const { request } = last;
-
-    if (!request) {
-      return null;
-    }
-
-    let stats: QueryResultMetaStat[] = [];
-
-    const requestTime = request.endTime ? request.endTime - request.startTime : -1;
-    const processingTime = last.timings?.dataProcessingTime || -1;
-    let dataRows = 0;
-
-    for (const frame of last.series) {
-      dataRows += frame.length;
-    }
-
-    stats.push({ displayName: 'Total request time', value: requestTime, unit: 'ms' });
-    stats.push({ displayName: 'Data processing time', value: processingTime, unit: 'ms' });
-    stats.push({ displayName: 'Number of queries', value: request.targets.length });
-    stats.push({ displayName: 'Total number rows', value: dataRows });
-
-    let dataStats: QueryResultMetaStat[] = [];
-
-    for (const series of last.series) {
-      if (series.meta && series.meta.stats) {
-        dataStats = dataStats.concat(series.meta.stats);
-      }
-    }
-
-    return (
-      <div aria-label={selectors.components.PanelInspector.Stats.content}>
-        {this.renderStatsTable('Stats', stats)}
-        {this.renderStatsTable('Data source stats', dataStats)}
-      </div>
-    );
-  }
-
-  renderStatsTable(name: string, stats: QueryResultMetaStat[]) {
-    if (!stats || !stats.length) {
-      return null;
-    }
-
-    const { dashboard } = this.props;
-
-    return (
-      <div style={{ paddingBottom: '16px' }}>
-        <table className="filter-table width-30">
-          <tbody>
-            {stats.map((stat, index) => {
-              return (
-                <tr key={`${stat.displayName}-${index}`}>
-                  <td>{stat.displayName}</td>
-                  <td style={{ textAlign: 'right' }}>{formatStat(stat, dashboard.getTimezone())}</td>
-                </tr>
-              );
-            })}
-          </tbody>
-        </table>
-      </div>
+const PanelInspectorUnconnected: React.FC<Props> = ({ panel, dashboard, defaultTab, plugin }) => {
+  const dispatch = useDispatch();
+  const [dataOptions, setDataOptions] = useState<GetDataOptions>({
+    withTransforms: false,
+    withFieldConfig: false,
+  });
+  const { data, isLoading, error } = usePanelLatestData(panel, dataOptions);
+  const metaDs = useDatasourceMetadata(data);
+  const tabs = useInspectTabs(plugin, dashboard, error, metaDs);
+  const onClose = useCallback(() => {
+    dispatch(
+      updateLocation({
+        query: { inspect: null, inspectTab: null },
+        partial: true,
+      })
     );
-  }
-
-  drawerSubtitle(tabs: Array<{ label: string; value: InspectTab }>, activeTab: InspectTab) {
-    const { last } = this.state;
+  }, [updateLocation]);
 
-    return <InspectSubtitle tabs={tabs} tab={activeTab} panelData={last} onSelectTab={this.onSelectTab} />;
+  if (!plugin) {
+    return null;
   }
 
-  getTabs() {
-    const { dashboard, plugin } = this.props;
-    const { last } = this.state;
-    const error = last?.error;
-    const tabs = [];
-
-    if (supportsDataQuery(plugin)) {
-      tabs.push({ label: 'Data', value: InspectTab.Data });
-      tabs.push({ label: 'Stats', value: InspectTab.Stats });
-    }
-
-    if (this.state.metaDS) {
-      tabs.push({ label: 'Meta Data', value: InspectTab.Meta });
-    }
-
-    tabs.push({ label: 'JSON', value: InspectTab.JSON });
-
-    if (error && error.message) {
-      tabs.push({ label: 'Error', value: InspectTab.Error });
-    }
-
-    if (dashboard.meta.canEdit && supportsDataQuery(plugin)) {
-      tabs.push({ label: 'Query', value: InspectTab.Query });
-    }
-    return tabs;
-  }
-
-  render() {
-    const { panel, dashboard, plugin } = this.props;
-    const { currentTab } = this.state;
-
-    if (!plugin) {
-      return null;
-    }
-
-    const { last, drawerWidth } = this.state;
-    const styles = getPanelInspectorStyles();
-    const error = last?.error;
-    const tabs = this.getTabs();
-
-    // Validate that the active tab is actually valid and allowed
-    let activeTab = currentTab;
-    if (!tabs.find(item => item.value === currentTab)) {
-      activeTab = InspectTab.JSON;
-    }
-
-    return (
-      <Drawer
-        title={`Inspect: ${panel.title}` || 'Panel inspect'}
-        subtitle={this.drawerSubtitle(tabs, activeTab)}
-        width={drawerWidth}
-        onClose={this.onClose}
-        expandable
-      >
-        {activeTab === InspectTab.Data && this.renderDataTab()}
-        <CustomScrollbar autoHeightMin="100%">
-          <TabContent className={styles.tabContent}>
-            {activeTab === InspectTab.Meta && this.renderMetadataInspector()}
-            {activeTab === InspectTab.JSON && (
-              <InspectJSONTab panel={panel} dashboard={dashboard} data={last} onClose={this.onClose} />
-            )}
-            {activeTab === InspectTab.Error && this.renderErrorTab(error)}
-            {activeTab === InspectTab.Stats && this.renderStatsTab()}
-            {activeTab === InspectTab.Query && <QueryInspector panel={panel} data={last.series} />}
-          </TabContent>
-        </CustomScrollbar>
-      </Drawer>
-    );
-  }
-}
-
-function formatStat(stat: QueryResultMetaStat, timeZone?: TimeZone): string {
-  const display = getDisplayProcessor({
-    field: {
-      type: FieldType.number,
-      config: stat,
-    },
-    theme: config.theme,
-    timeZone,
-  });
-  return formattedValueToString(display(stat.value));
-}
+  return (
+    <InspectContent
+      dashboard={dashboard}
+      panel={panel}
+      plugin={plugin}
+      defaultTab={defaultTab}
+      tabs={tabs}
+      data={data}
+      isDataLoading={isLoading}
+      dataOptions={dataOptions}
+      onDataOptionsChange={setDataOptions}
+      metadataDatasource={metaDs}
+      onClose={onClose}
+    />
+  );
+};
 
 const mapStateToProps: MapStateToProps<ConnectedProps, OwnProps, StoreState> = (state, props) => {
   const panelState = state.dashboard.panels[props.panel.id];
diff --git a/public/app/features/dashboard/components/Inspector/hooks.ts b/public/app/features/dashboard/components/Inspector/hooks.ts
new file mode 100644
index 00000000000..72d06588fa9
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/hooks.ts
@@ -0,0 +1,64 @@
+import { DataQueryError, DataSourceApi, PanelData, PanelPlugin } from '@grafana/data';
+import useAsync from 'react-use/lib/useAsync';
+import { getDataSourceSrv } from '@grafana/runtime';
+import { DashboardModel } from 'app/features/dashboard/state';
+import { useMemo } from 'react';
+import { supportsDataQuery } from '../PanelEditor/utils';
+import { InspectTab } from './types';
+
+/**
+ * Given PanelData return first data source supporting metadata inspector
+ */
+export const useDatasourceMetadata = (data?: PanelData) => {
+  const state = useAsync<DataSourceApi | undefined>(async () => {
+    const targets = data?.request?.targets || [];
+
+    if (data && data.series && targets.length) {
+      for (const frame of data.series) {
+        if (frame.meta && frame.meta.custom) {
+          // get data source from first query
+          const dataSource = await getDataSourceSrv().get(targets[0].datasource);
+          if (dataSource && dataSource.components?.MetadataInspector) {
+            return dataSource;
+          }
+        }
+      }
+    }
+
+    return undefined;
+  }, [data]);
+  return state.value;
+};
+
+/**
+ * Configures tabs for PanelInspector
+ */
+export const useInspectTabs = (
+  plugin: PanelPlugin,
+  dashboard: DashboardModel,
+  error?: DataQueryError,
+  metaDs?: DataSourceApi
+) => {
+  return useMemo(() => {
+    const tabs = [];
+    if (supportsDataQuery(plugin)) {
+      tabs.push({ label: 'Data', value: InspectTab.Data });
+      tabs.push({ label: 'Stats', value: InspectTab.Stats });
+    }
+
+    if (metaDs) {
+      tabs.push({ label: 'Meta Data', value: InspectTab.Meta });
+    }
+
+    tabs.push({ label: 'JSON', value: InspectTab.JSON });
+
+    if (error && error.message) {
+      tabs.push({ label: 'Error', value: InspectTab.Error });
+    }
+
+    if (dashboard.meta.canEdit && supportsDataQuery(plugin)) {
+      tabs.push({ label: 'Query', value: InspectTab.Query });
+    }
+    return tabs;
+  }, [plugin, metaDs, dashboard, error]);
+};
diff --git a/public/app/features/dashboard/components/Inspector/types.ts b/public/app/features/dashboard/components/Inspector/types.ts
new file mode 100644
index 00000000000..757278ce5ef
--- /dev/null
+++ b/public/app/features/dashboard/components/Inspector/types.ts
@@ -0,0 +1,8 @@
+export enum InspectTab {
+  Data = 'data',
+  Meta = 'meta', // When result metadata exists
+  Error = 'error',
+  Stats = 'stats',
+  JSON = 'json',
+  Query = 'query',
+}
diff --git a/public/app/features/dashboard/components/PanelEditor/OptionsPaneContent.tsx b/public/app/features/dashboard/components/PanelEditor/OptionsPaneContent.tsx
index c555c3f9292..a4a9f56c99f 100644
--- a/public/app/features/dashboard/components/PanelEditor/OptionsPaneContent.tsx
+++ b/public/app/features/dashboard/components/PanelEditor/OptionsPaneContent.tsx
@@ -35,7 +35,7 @@ export const OptionsPaneContent: React.FC<Props> = ({
   const styles = getStyles(theme);
   const [activeTab, setActiveTab] = useState('options');
   const [isSearching, setSearchMode] = useState(false);
-  const [currentData, hasSeries] = usePanelLatestData(panel, { withTransforms: true, withFieldConfig: false });
+  const { data, hasSeries } = usePanelLatestData(panel, { withTransforms: true, withFieldConfig: false });
 
   const renderFieldOptions = useCallback(
     (plugin: PanelPlugin) => {
@@ -51,11 +51,11 @@ export const OptionsPaneContent: React.FC<Props> = ({
           plugin={plugin}
           onChange={onFieldConfigsChange}
           /* hasSeries makes sure current data is there */
-          data={currentData!.series}
+          data={data!.series}
         />
       );
     },
-    [currentData, plugin, panel, onFieldConfigsChange]
+    [data, plugin, panel, onFieldConfigsChange]
   );
 
   const renderFieldOverrideOptions = useCallback(
@@ -72,11 +72,11 @@ export const OptionsPaneContent: React.FC<Props> = ({
           plugin={plugin}
           onChange={onFieldConfigsChange}
           /* hasSeries makes sure current data is there */
-          data={currentData!.series}
+          data={data!.series}
         />
       );
     },
-    [currentData, plugin, panel, onFieldConfigsChange]
+    [data, plugin, panel, onFieldConfigsChange]
   );
 
   // When the panel has no query only show the main tab
@@ -106,7 +106,7 @@ export const OptionsPaneContent: React.FC<Props> = ({
                   panel={panel}
                   plugin={plugin}
                   dashboard={dashboard}
-                  data={currentData}
+                  data={data}
                   onPanelConfigChange={onPanelConfigChange}
                   onPanelOptionsChanged={onPanelOptionsChanged}
                 />
diff --git a/public/app/features/dashboard/components/PanelEditor/usePanelLatestData.ts b/public/app/features/dashboard/components/PanelEditor/usePanelLatestData.ts
index 4e1def053dd..a4aeeecbb1c 100644
--- a/public/app/features/dashboard/components/PanelEditor/usePanelLatestData.ts
+++ b/public/app/features/dashboard/components/PanelEditor/usePanelLatestData.ts
@@ -1,12 +1,22 @@
-import { PanelData } from '@grafana/data';
+import { DataQueryError, LoadingState, PanelData } from '@grafana/data';
 import { useEffect, useRef, useState } from 'react';
 import { PanelModel } from '../../state';
 import { Unsubscribable } from 'rxjs';
 import { GetDataOptions } from '../../state/PanelQueryRunner';
 
-export const usePanelLatestData = (panel: PanelModel, options: GetDataOptions): [PanelData | null, boolean] => {
+interface UsePanelLatestData {
+  data?: PanelData;
+  error?: DataQueryError;
+  isLoading: boolean;
+  hasSeries: boolean;
+}
+
+/**
+ * Subscribes and returns latest panel data from PanelQueryRunner
+ */
+export const usePanelLatestData = (panel: PanelModel, options: GetDataOptions): UsePanelLatestData => {
   const querySubscription = useRef<Unsubscribable>(null);
-  const [latestData, setLatestData] = useState<PanelData>(null);
+  const [latestData, setLatestData] = useState<PanelData>();
 
   useEffect(() => {
     querySubscription.current = panel
@@ -18,15 +28,19 @@ export const usePanelLatestData = (panel: PanelModel, options: GetDataOptions):
 
     return () => {
       if (querySubscription.current) {
-        console.log('unsubscribing');
         querySubscription.current.unsubscribe();
       }
     };
-  }, [panel]);
+    /**
+     * Adding separate options to dependencies array to avoid additional hook for comparing previous options with current.
+     * Otherwise, passing different references to the same object may cause troubles.
+     */
+  }, [panel, options.withFieldConfig, options.withTransforms]);
 
-  return [
-    latestData,
-    // TODO: make this more clever, use PanelData.state
-    !!(latestData && latestData.series),
-  ];
+  return {
+    data: latestData,
+    error: latestData && latestData.error,
+    isLoading: latestData ? latestData.state === LoadingState.Loading : true,
+    hasSeries: latestData ? !!latestData.series : false,
+  };
 };
diff --git a/public/app/features/dashboard/containers/DashboardPage.tsx b/public/app/features/dashboard/containers/DashboardPage.tsx
index 64e13a839c8..1dcd3e9b805 100644
--- a/public/app/features/dashboard/containers/DashboardPage.tsx
+++ b/public/app/features/dashboard/containers/DashboardPage.tsx
@@ -27,7 +27,8 @@ import {
 } from 'app/types';
 
 import { DashboardModel, PanelModel } from 'app/features/dashboard/state';
-import { InspectTab, PanelInspector } from '../components/Inspector/PanelInspector';
+import { InspectTab } from '../components/Inspector/types';
+import { PanelInspector } from '../components/Inspector/PanelInspector';
 import { SubMenu } from '../components/SubMenu/SubMenu';
 import { cleanUpDashboardAndVariables } from '../state/actions';
 import { cancelVariables } from '../../variables/state/actions';
diff --git a/public/app/features/dashboard/dashgrid/PanelHeader/PanelHeaderCorner.tsx b/public/app/features/dashboard/dashgrid/PanelHeader/PanelHeaderCorner.tsx
index 30a74b13b77..c4086e8fbb1 100644
--- a/public/app/features/dashboard/dashgrid/PanelHeader/PanelHeaderCorner.tsx
+++ b/public/app/features/dashboard/dashgrid/PanelHeader/PanelHeaderCorner.tsx
@@ -7,7 +7,7 @@ import { getLocationSrv } from '@grafana/runtime';
 import { PanelModel } from 'app/features/dashboard/state/PanelModel';
 import templateSrv from 'app/features/templating/template_srv';
 import { getTimeSrv, TimeSrv } from 'app/features/dashboard/services/TimeSrv';
-import { InspectTab } from '../../components/Inspector/PanelInspector';
+import { InspectTab } from '../../components/Inspector/types';
 
 enum InfoMode {
   Error = 'Error',
diff --git a/public/app/features/dashboard/state/PanelQueryRunner.test.ts b/public/app/features/dashboard/state/PanelQueryRunner.test.ts
index 3ab0f3f979a..b89782b8332 100644
--- a/public/app/features/dashboard/state/PanelQueryRunner.test.ts
+++ b/public/app/features/dashboard/state/PanelQueryRunner.test.ts
@@ -298,4 +298,48 @@ describe('PanelQueryRunner', () => {
       getTransformations: () => [({} as unknown) as DataTransformerConfig],
     }
   );
+
+  describeQueryRunnerScenario(
+    'getData',
+    ctx => {
+      it('should not apply transformations when transform option is false', async () => {
+        const spy = jest.spyOn(grafanaData, 'transformDataFrame');
+        spy.mockClear();
+        ctx.runner.getData({ withTransforms: false, withFieldConfig: true }).subscribe({
+          next: (data: PanelData) => {
+            return data;
+          },
+        });
+
+        expect(spy).not.toBeCalled();
+      });
+
+      it('should not apply field config when applyFieldConfig option is false', async () => {
+        const spy = jest.spyOn(grafanaData, 'applyFieldOverrides');
+        spy.mockClear();
+        ctx.runner.getData({ withFieldConfig: false, withTransforms: true }).subscribe({
+          next: (data: PanelData) => {
+            return data;
+          },
+        });
+
+        expect(spy).not.toBeCalled();
+      });
+    },
+    {
+      getFieldOverrideOptions: () => ({
+        fieldConfig: {
+          defaults: {
+            unit: 'm/s',
+          },
+          // @ts-ignore
+          overrides: [],
+        },
+        replaceVariables: v => v,
+        theme: {} as GrafanaTheme,
+      }),
+      // @ts-ignore
+      getTransformations: () => [{}],
+    }
+  );
 });