Maximizing Data Integration for Business Growth
December 6, 2021
We live in an era when information is critical to company success in practically every industry. Data is essential for making informed decisions and developing effective strategies. It may affect everything from revenue development to customer happiness. As your business keeps growing and generating a lot of data (sometimes BIG data depending on your industry, company size, and other complexities), how are you making your data work for you?
How can you properly collect, store, classify, and analyze data to gain insights and make informed business decisions? This is where you need practical data integration. This article covers business insights, highlighting the benefits of data integration and why it is needed for business growth.
Data Integration combines data from different sources into a unified pipeline to simplify data processing, readability, and usability. As your business grows, your data inevitably grows. If not properly managed, the lack of data integration can affect your business performance and cause a decline in productivity and efficiency. Your business data is supposed to spur innovation and growth but can stifle growth if not properly integrated.
According to a McKinsey survey, companies that rely on data can make informed decisions. The pool showed a 93% growth in profits, an 82% increase in sales, and a 112% growth in sales. Your business probably generates both structured and unstructured data. Data integration solutions aggregate these data, regardless of their kind, structure, or volume, into a data pipeline for data ingestion, processing, transformation, and storage using an ETL or an ELT model, i.e., Extract, Load, and Transform.
Businesses can achieve one-point data storage, access, and quality by linking systems that contain valuable data while integrating them across departments and locations. This benefits not just an individual or a department and the entire organisation by encouraging intersystem interaction. Below are some of the numerous benefits of data integration:
Combining data from multiple silos and integrating them into a unified warehouse helps simplify data ambiguity. The data that once seemed complex and unreadable in various sources can now be processed in a single warehouse, making it easy to analyse and use.
Data allows when your business data is scattered around in silos, it becomes difficult to access. Files can easily get mixed up, hence slowing down productivity. With data integration, data engineers, scientists, and analysts to easily access data, enabling businesses to gain insights and make informed decisions.
Whether internally or externally, data integration boosts communication, collaboration, and productivity. Individuals, team leads, management, and stakeholders can effectively gain insights from the data generated to improve their business processes and performance. Interaction and collaboration are better with usable business information.
Employees can make better decisions while interacting with colleagues and customers with easier access to dependable and accurate data. Furthermore, having a larger perspective of the business will allow new ideas to arise, allowing them to function more efficiently.
Siloed data doesn’t provide you a complete picture of your customers, impacting sales and revenue. Using real-time customer data allows you to send customized messages to your customers, predict their preferences, and increase customer retention and loyalty.
Having read through these benefits, it’s time to integrate your business data. Do you have experienced data professionals that can help incorporate your data? Or would you like to get specialised data engineers to assist with a functional solution? Data2bots, an IT consultancy company, can augment your in-house technical team, providing support where necessary.
You can also outsource your data projects to our team of qualified data professionals, and we will provide an end-to-end data integration solution to help you gain insights and make better business decisions. Contact us via email, send a mail to:firstname.lastname@example.org, or visit www.data2bots.com today. Data integration made easy!
Ezeja JenniferMaximizing Data Integration for Business Growth