@Ramakrishnaam I think it might help if you could tell us more about what you want to do.
If we are talking about automated data preparation and feature engineering. There is no genuine KNIME node but I have set up sample workflows using the R package vtreat to (semi-)automatically prepared data. Similar approaches would be featuretools with Python.
Please also note the links at the bottom of the pages.
If you are looking for other techniques of dimension reduction there is this large workflow along with accompanying articles: