Thanks to the ubiquity of technology, corporate decision makers now have a vast wealth of digital data at their fingertips. Enter the age of big data- a trend that has opened unprecedented opportunities to increase profitability, improve customer satisfaction and streamline operational efficiencies in ways that just weren’t possible before. However, the amount of data available to today’s companies is so enormous that it’s much harder to keep track of. It is imperative to find a business intelligence solution that brings all the data available to you under a single, conveniently centralized hub.
Here’s how data aggregation and warehousing can help you take your organization to new heights of efficiency and profitability:
Eliminate Issues with Manual Data Entry
One of the biggest challenges facing business intelligence is maintaining data quality and consistency. If you’re relying on manual processes for gathering data from lots of different sources before manually drawing up reports, there’s a greatly increased chance of human error entering the equation. This can lead to missing, inaccurate or outdated information while also taking up a lot more time.
Data aggregation uses an automated approach, extracting data from various sources and organizing it into a single database. A sophisticated solution should be able to tell which data is most current and, therefore, most relevant. Moreover, there’ll no longer be a need to manually create reports from information gathered from multiple sources.
Enhance Accessibility with a Centralized, Cloud-Enabled Infrastructure
Just as today’s consumers demand instant gratification, the modern business needs to have immediate access to data-driven insights in real time. However, that’s not possible if you’re waiting for reports from several different departments. By the time your marketing team gets hold of the reports from your IT department, for example, you’ll have already missed out on any in-the-moment opportunities.
Data aggregation and warehousing brings everything together under one roof, which is typically hosted in the cloud. That means everyone on your team will have access to all the information they need to do their jobs better – the marketing department will be able to act quickly on new opportunities, the support department will be better equipped to manage support requests, and decision-makers will be able to turn measurable results into transformational business strategies.
Extract Data from the Right Sources
Every digital process generates data. This includes emails, social media posts, instant messaging, online shipping and far more. Today’s businesses work with a complex and disparate array of different platforms- marketing teams may be hard at work determining the latest trends and tracking website, email, and social media analytics, while customer support teams may be managing support tickets and sales teams may be constantly collecting data for their CRM systems.
The modern enterprise environment sees a constant stream of digital data coming in from all directions and departments. However, if each department is relying on its own tools or, worse still, multiple tools for the various systems they use, there’s bound to be a severe disconnect when it comes to communication and collaboration. Data aggregation, however, integrates with your existing systems to extract data from multiple sources so that decision-makers can act quickly on insights.
Identify Trends with Predictive Analyses and Machine Learning
Working with big data manually isn’t just difficult – it’s impossible, at least if you want to make the best use out of it. That’s why experts are starting to talk less about big data and more about small data, which refers to data sets that are small enough for human comprehension. Business intelligence is all about distilling big data down into smaller and more easily digestible insights, preferably presented in a user-friendly visual format.
Imagine if Google didn’t have its algorithms to determine which search results are most relevant to its users. Instead of relying on impossibly large teams of people to do the job manually, it uses its RankBrain algorithm, a highly advanced machine-learning system that automates the process. In a similar way, businesses can now use AI-powered solutions to collect data and create predictive analyses that help them stay ahead of customer trends. There’s little doubt that AI is the next big thing in data analytics, simply because it must be. There’s no other way to streamline operational efficiencies and use data to keep driving your business forward.
Data has the power to transform your business, provided you have the right tools to make sense of it all. That’s where data aggregation and warehousing from EX Squared come in. Contact us today to find out how.