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)
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.
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.