Data integration. Strategic approach
Data integration has no place in tactical tasks
Are you digitally transforming your business? You need a data integration strategy. A business that strives forward and its data needs to embrace a whole new world that is constantly changing. This world of smart data is built on advanced approaches to data integration. Together, these approaches are combined into the concept of “modern data integration”. Do you need the right information to be at the heart of advanced analytics processes, at the heart of a single view of customers? Data integration should become a strategic function that meets business objectives.
Even now, most companies do not consider data integration a strategic direction for the company. Most often it falls into the basket “tactical technology”.
Perfect data is at the heart of your decisions
Data should always be treated strategically, and to those that you have, and to those that do not. The ability to bring data together at the right time gives businesses the ability to make decisions based on near-perfect data. For example, on the basis of data, a manufacturing enterprise can effectively determine how many products it needs to produce. What kind of data could it be? Internal sales information for the last 5 years and external information, such as weather patterns that may affect sales. In addition, such an enterprise will be able to monitor the demand for its products almost in real time. And this is the key to optimal management of warehouse loading, which helps to avoid excess or shortage of goods.
This is the simplest example. But it can be developed to a more complex level, where it will bring even more benefits. For example, the Bank can create an automatic system of operations with securities. The system will be able to work on the basis of hundreds of data streams that come from internal and external systems. Companies can also benefit from data analysis through machine learning or predictive Analytics. All this is a part of modern data science, which will not be able to benefit effectively without data integration.
Data integration inside and outside
The most important data for a company can often be found not only outside the corporate vault, but also outside the company as such. In such circumstances, the business has to recognize the value of integrating data from different sources.
Data integration has been used for a long time, but most organizations have yet to learn how to use it effectively. In fact, those who have learned to do it effectively are already leading the market.
“Natural selection” based on the effectiveness of data integration
The end result will be a “natural selection” of companies. It will benefit those who understand the strategic value of data integration and effectively integrate it into the overall it strategy. It takes time, money and technology. But worth it. ROI (return on investment) from these efforts on average reaches more than 200%, taking into account all the benefits for the business.
No company will leave data integration. Sooner or later, accidentally or not, everyone will have to face the value of data integration. More often than not, this value becomes apparent at the concept validation project stage, when it turns out that data integration brings significant benefits.