Strategic use of data can help all size businesses to operate better and achieve their goals efficiently. But take into account the number of sources like ERPS, CRMs, mobile apps, and multiple more, storing volumes of data that demand proper data integration tools to deliver valuable insights.
Assembling tons of data that generates daily in every organization is easier said than done. Gone are the days when relying on data warehouses with particular schemas can help your business grow. To meet the pace of the dynamic market, you need cloud data integration tools that help you better understand the success of a particular campaign, provide a vivid view of your customer’s journey, and help you anticipate the upcoming trends.
Data is the most crucial resource for any business that helps it run its operation efficiently. There are multiple methods that you can use to process the data to derive valuable information. As the amount of data generates in an organization is increasing daily, it calls for the implementation of effective data management to make the best use of every piece of information available. One of the best data management techniques used across the globe is data integration.
What is Data Integration?
Data integration collects data from several platforms and source systems and then combines it to get a unified view of the business processes, customer behavior, and upcoming market trends. The unified view delivers valuable and meaningful information to users. Owing to the availability of different data integration tools, it becomes easier for users with less technical knowledge to perform the data integration process.
The importance of data integration in today’s world
With an effective data integration strategy, you can ensure the growth of your business, retain existing customers and bring new customers, and increase profitability. Here are a few points you can look at to understand the importance of data integration:
- Better decision making: With cloud data integration tools, users can get access to the real-time data that is presented to them in an easy to understand format. With such lucid information at the right time, they can proactively make strategies to grab opportunities and identify potential bottlenecks that may appear.
- Streamlining operations: Every process ranging from procurement to supply chain management to production management can be improved with real-time access to crucial information. With the right information at the right time, you can boost the efficiency of processes, increase productivity, and reduce costs across different departments of your organization.
- Improve customer experience: Data stuck in silos can make it harder for you to get a complete view of your customers’ preferences that can negatively impact your sales and, ultimately, revenue. The data integration process will help you integrate all your data scattered on different platforms into a single destination warehouse and help you compare the same with the historical data. This will provide you information that you can use to target your customers with the right message to improve customer experience and thereby boost retention and revenue.
- Enhance productivity: Moving between different systems to gather insights can consume a lot of time and effort and directly reduce your overall organizational productivity. With automatic data integration, you can pool all your data into a single dashboard, helping you make all crucial decisions in less time so that immediate actions can be taken, resulting in better productivity and ROI.
- Anticipate the future: Using the data integration process, you can combine past data with sales pipeline information to predict customer demands. This will help you modify your products and services as per the customers’ requirements to boost your sales. By providing products & services as per customers’ needs, you can always stay ahead of your competitors.
- Power Business Intelligence: Business intelligence relies on data to perform tasks ranging from reporting to predictive analytics to finance, operations, and management. With the right data in hand, it becomes easier to identify inefficiencies, errors in processes, missed revenue generation opportunities, and more. Data integration powers BI tools with data streams so that strategic decisions can be made.
- Data enrichment: The data integration tools will help you move with the process of updating information of your customers like names, contact numbers, and emails. By combining every unique information about each customer, you can get a bigger and clearer picture of your buying audience.
- Data quality: Ensuring the highest quality of data is not as easy as it seems. You have to define multiple things, including your requirements, how to create them, and the level for error tolerance. By implementing a data integration process, you can eliminate the major risk of errors and comply with your organizational data governance policies. Better data integration facilitates data accuracy and ensures that the different departments in your organization have access to valuable information.
- Customer data analytics: It is extremely important for a business to understand its business, what behavior they exhibit, and how loyal they are to the brand. Data integration helps you pull all this information from all your customers’ profiles and provide a single view of it, so you can create campaigns that can work on customer retention and attract new customers to your business to boost sales and revenue.
With loads of data generated daily, the importance of data integration in today’s world is paramount. No organization can survive and grow without an effective data integration plan. You can make use of the best cloud data integration tools to consolidate all your data from dispersed source systems, transform it into a specified format, and load it into a data warehouse to get a single and vivid view of all your data. Go for a data integration solution that can scale as your business expands, along with maintaining data security and safety.