All successful organizations utilize data to make big decisions. But how do you leverage data to provide the type of information that empowers leaders to make the right decisions? Hiring Data integration Consultants is the initial and most vital step in this process. The size and reach of data integration within your business will depend on how keen you are to automate processes and unite teams.

Today, information is the major element of business success for companies in about every industry. Data is the key to drive correct and timely decisions, creating winning strategies, and can impact everything from revenue increase to client satisfaction.

As per McKinsey, companies that greatly depend on data and make well-versed decisions are:

• Growing profits by 93%;
• Increasing sales by 82%
• Improving the pace of sales growth by 112%.

To get the required information, there are two key challenges that need to be solved. First is the agility of the data, it must be provided as quickly as possible, in real-time if possible. The second is that the data provide reliable information, you can then act quickly without questioning it. It is a big concern because almost half of the data files have errors that could ruin processes.

What is Data Integration?

The definition of data integration is quite simple – it is a process that intends to join data from multiple sources into a combined view, making it available and actionable. You can determine the positive outcomes of this process by getting information quickly, correctly, and at scale, which will help you attain your business goals and make the most of your ability to use the latest technologies in your business.

There is not any mutual approach or technique to data integration, however, all solutions have elements in common like a network of data sources, a master server, and users who want to use data from that server.

For instance:

• A user sends a request for data to the master server
• The server gathers the necessary data from both internal and external sources
• After data extraction, data is combined in a consistent form and delivered to the user.

In many cases, information needs to be integrated from an assortment of sources before it can actually be used for any type of analysis. Without data integration, creating a report could require you to use information from diverse accounts on numerous websites, extracting data from applications, copying, reformatting, cataloging, cleaning, and processing. After all of these prep actions, analysis can be started. That’s where the need for data integration arises.

Reasons to Have a Data Integration Strategy

Your data has the power to improve business efficiency it's maximum and makes all departments work as a single unit. To attain this, you need to join all the points in your plan. Accurate planning and outstanding execution will take time, but it is worth it. Here's why;

Keeping Pace with the Data Revolution

There is no doubt that your competitors are data-driven and continually evolving with the required modernization in their organizations. Industries, such as Finance, Retail, Manufacturing, Healthcare, Food, and Beverages, could all be modified and improved upon based on solutions that include processing data.

Making Data Accessible

Existing data is an advantage for your business; it’s as simple as that! Imagine that someone in your company or maybe your business partners could have access to core information, exactly at the time they needed it to make accurate decisions about business operations.

Reducing Security Issues

Having access to all achievable sort of information that is frequently updated and coordinated makes it much easier to offer a higher level of security and avoid fraud. You can apply Artificial Intelligence and Machine Learning solutions to evaluate any doubtful activity and have the chance to deal with it, or you can even put automated algorithms to do it for you.

Improving Data Clarity

Browsing thousands of interfaces is not easy or efficient for any enterprise. With a data integration strategy, you can manage all of this and tackle complexity while getting maximum results with advanced information delivery. The solution may need an accessible data center that is easy to connect to.

Making Data More Valuable

Data integration provides more value to the data, which is one of the major reasons to have a data integration strategy. Data quality methods are becoming more common in Data Integration solutions- as these techniques identify the issues that need fixing and progress data characteristics to make data cleaner, more reliable, and more absolute.

Simplifying Data Collaboration

Integrated and accessible data unlocks a completely new world of possibilities for collaboration inside and outside the company. Therefore, anybody who is dependent on your information will gain much more value from the data if it is accessible in the right format. This data can be shared with internal teams, the entire company, partners, enabling quick access to information from diverse sources; your organization will get an accurate understanding of the existing situation.

Keeping Data Updated

An integrated data strategy helps to get data updates as soon as possible. If you involve cloud technologies in your strategy, it can even provide updates in real-time. Because of data silos, the data is at risk of becoming out of date and unreachable for collaboration. Data integration methods will connect those silos in different areas of your business and provide you the greatest potential value out of it.

Driving Smarter Business Decisions

Prearranged repositories with an assortment of integrated datasets will allow you and your peers to get a striking level of simplicity and understanding across the overall organization. Unlike ever before data integration will give your company power, allowing you to make informed decisions in real-time.

Conclusion

The most significant thing about your custom data integration strategy is using it as part of a larger vision. It’s not only a one-time deal but rather a step to your digital transformation. If you are also looking for a way to make your business move ahead, contact Data Integration Consultants to plan an appropriate strategy for you. ExistBI has experienced consulting teams in the US, UK, and Europe.