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Data Integration Platform: Leveraging the Power of Data

Aashish Yadav | June 24, 2022 | 320 views | Read Time : 3 min

Data Integration Platform: Leveraging the Power of Data
Data is not stored in a single database, file system, data lake, or repository. Data generated in a system of record must meet various business requirements, connect with other data sources, and then be utilized for analytics, customer-facing apps, or internal procedures. A well-established data integration solution provides a unified picture of data received from various places and formats. This can also happen when two organizations merge or when internal applications are consolidated. Data integration can also facilitate the development of a more complete data warehouse, resulting in more accurate and effective analysis. Data integration establishes the foundation for effective Business Intelligence (BI) and decision-making.

Data Integration as a Tool for Business Strategy

The gathering, analysis, and integration of data is essential to the success of businesses. Let’s have a look at the way in which data integration technology enables business strategy.


Set Data-Integration Goals

These objectives should be part of the larger company objective. A thorough awareness of your consumers, for example, is corporate goal. To do this, your integration strategy should aim to embed customer data into your service, sales, and marketing platforms.


Improved Financial Data Management

A robust data integration strategy allows you to monitor and manage vital financial and operational data through simple dashboards that combine all business and financial data into a single platform.

Any effective financial management system will include basic accounting capabilities that will enable you to track revenue and spending, assets and liabilities, and amortizations in order to provide accurate financial reports.


Enhanced Marketing Analytics

Data about competitors, industry trends, consumer behavior, and campaign performance should drive your marketing strategy. Update often as fresh data becomes available.

By assessing your marketing tools and channels, you can determine the optimum time, place, and technique to advertise your company. Gather data from social media, email marketing tools, CRMs, CMSs, and other platforms for marketing analytics. This also allows you to evaluate where you should spend additional resources to improve the consistency of your marketing effort.


Save Time and Resources

Business intelligence experts have a huge workload of sifting through business data.

Analysts worry less when teams have direct access to essential data. This frees them to concentrate on difficult, valuable data sets.

Without data integration platforms, even the simplest business report requires manual processing of all sources, creating code or automatically uploading data to the database, and exhausting systematization.

Not to mention the challenge to monitor and correct any human factor errors. This will be completely eliminated by integration automation.


How AI Is Enhancing the Data Integration Process?

  • Data Mapping: Businesses can map data faster using AI for insights generation and decision-making.
  • Autonomous learning: An ML-based data integration process enables autonomous learning to discover patterns and trends in the stored data.
  • Big data processing: Machine learning (ML) makes it possible to quickly and accurately transform unstructured and inconsistent data into desirable formats.


Closing Lines

Regardless of the size of your company or resources, processing and managing data correctly can expand vision of your business and customers.

As organizations rely on data analytics and business intelligence, data integration will become more user-friendly in the coming years. Data integration is an unavoidable aspect of every organization's digital transformation path. Implement the most current data integration techniques to stay ahead of your competition.

Spotlight

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Read More

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This shift aligns with AnswerRocket’s mission to empower business teams to quickly get answers from their data,” said Alon Goren, CEO at AnswerRocket. “Powered by GPT-4, Max makes it easy for everyone to understand and act on data, no matter their level of technical expertise.” BI adoption may be as low as 25%, according to research by Business Application Research Center (BARC) and Eckerson Group. Interacting with BI and analytics platforms represents a key barrier to broad enterprise adoption. AnswerRocket’s patent-pending use of large language models to enable chat-based analytics addresses the user adoption challenges that have plagued business intelligence and analytics teams for decades. Max enables businesses of all sizes to easily access and analyze their data in real time with zero training. Simply type your questions, and Max will provide insightful answers and visualizations based on your data. Some of the key features of Max include: Easy data exploration: With Max, you can ask natural language questions and receive instant insights on your data. Whether you're looking for specific answers, drivers, trends, or outliers, Max can help you uncover hidden insights so you can take action. Advanced analysis capabilities: In addition to answering basic questions, Max can perform advanced analysis, including statistical, diagnostic, and predictive analytics. This allows businesses to expand access to deeper insights across their teams. Accelerated data setup: Users can connect, prepare, and begin analyzing their data in minutes thanks to a streamlined data configuration experience powered by GPT-4 to support automated data classification, definitions, synonyms, and suggested questions. Trainable model: Users can train Max to understand their business and analysis preferences. Max continuously learns from user input to improve its insights over time. “Anheuser-Busch InBev has long recognized the power of analytics to spur growth and innovation in a highly competitive market. It’s why we partnered with AnswerRocket to deliver faster, deeper insights to our business,” said Sabine Van den Bergh, Director Brand Strategy & Insights Europe at Anheuser-Busch InBev. “A chat-based tool like Max can help more users feel comfortable interacting with data. Having an on-demand assistant that can quickly answer the questions that pop up throughout the day would enable our team to make data-driven decisions at scale.” Beam Suntory is currently leveraging AnswerRocket to deliver automated, interactive consumer insights across its portfolio of 50+ premium spirits. Abraham Neme, Global Head BI & Analytics at Beam Suntory said, “With Max, Beam Suntory can automate routine tasks and gain valuable insights from data, allowing us to make more informed decisions. I see the potential for Max to become a powerful tool for analyzing a combination of external, macro, and internal data.” Cereal Partners Worldwide (CPW)—a joint venture between Nestlé and General Mills with over 50 brands—launched AnswerRocket’s core augmented analytics platform to their enterprise in early 2023. Regarding the new chatbot experience, Chris Potter, Global Applied Analytics at CPW said, “Max will take AnswerRocket to the next level! We need our teams to make informed, fact-based decisions. Max will enable users across all levels of CPW to quickly access data and insights through intuitive questions and responses.” AnswerRocket is excited to bring this innovative technology to businesses in Q2 2023. About AnswerRocket Founded in 2013, AnswerRocket is an augmented analytics platform for data exploration, analysis, and insights discovery. It allows users to monitor key metrics, identify performance drivers, and detect critical issues within seconds. AnswerRocket’s latest release harnesses OpenAI’s ChatGPT technology to enable conversational analytics on proprietary data. Users can chat with Max–an AI assistant for data analysis–to get narrative answers, insights, and visualizations. Additionally, AnswerRocket empowers data science teams to operationalize their models throughout the enterprise. Companies like Anheuser-Busch InBev, Cereal Partners Worldwide, Beam Suntory, Coty, EMC Insurance, Pabst, Hi-Rez Studios, American Licorice Company, and National Beverage Corporation depend on AnswerRocket to increase their speed to insights.

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