As technology advances, the amount of data stored in the digital universe exponentially increases. What many businesses are beginning to realize is that data analysis is essential for a company to grow and prosper. But with the several trillion gigabytes of data existing out there, how can a business gather and utilize data to its advantage? Well, the most convenient way to do this is via data integration.
Data integration is the process of combining data from two or more sources and converging information into a single source. Through this process, data can be extracted, analyzed and shared in various ways, giving a company a more comprehensive view of the business. Integrating data allows organizations access to update information in real-time when they need it readily available.
Now, you may be asking, why is data collection and management so important in the first place? If you want to build stronger customer relationships and increase sales, gathering data on potential customers is invaluable. Identifying the who, what, and why about a customer lead or a customer purchase provides the sales and marketing team with data that can be analyzed and transformed into highly useful information.
The stronger a company’s data strategy is, the more informed its decisions become. According to a survey of senior executives conducted by PriceWaterhouseCoopers, data-driven businesses are three times more likely to report major improvements in decision-making compared to those who do not rely as heavily on data. Most companies have access to data but lack a system or platform for organizing that data or know how to use it to their advantage. A 2019 article in Forbes noted that 95 percent of companies claim that they need to manage unstructured data as a primary business.
That’s precisely why more companies and organizations are now incorporating cloud-based applications and SaaS (Software as a Service) to help run their business operations. With data integration software, the vast majority of data management becomes automated and synchronizes data between applications within the software, which makes data collection more efficient, accurate, unified, and applicable. Although, having the right integration software to supplement the company’s needs is crucial.
Looking to improve your business strategy? Here are signs that your business’ data isn’t being maximized to its fullest potential:
To help prepare for a successful data integration, companies should take the following steps:
Once your business strategy for data management is established, your team should be ready to begin building the framework for completing a successful data integration:
Easy access and understanding of company data regarding customers, sales, and financial results are imperative. When companies invest the time and money in data integration, it helps to build stronger customer relationships, generate increased sales and increased profits.
The ApostleTech team is highly experienced in data integration and CRM implementations. here to help you achieve your business goals.
To learn more about how the ApostleTech development team can better access and utilize customer data to help you achieve your business goals, contact us.