According to a study by Gartner, the market for data integration software grew 6.8 percent in 2020, reaching almost $3.3 billion. This massive growth is sustained by the need to solve multi-cloud and hybrid data integration challenges of business customers, along with the need to facilitate particular data integration methods.
Data integration involves the process of consolidating information from myriad systems into a single, much more valuable database or data lake. The truth is data integration is an essential segment of an organization that requires to exchange of information across different departments–and with business partner ecosystems.
This article highlights the problems solved by data integration solutions. But before that, let’s look at data integration platforms in detail.
The Purpose of Data Integration
Data integration is defined as the process of consolidating data from various sources into a single source. It enables companies to build data connections with customers. In a way, data integration enables companies to access all the information through one system rather than having it dispersed across different platforms. This is where the term “single source of truth” comes from. As a result, companies ensure there are no duplicates or conflicts within a particular database.
Problems Solved by Data Integration
The reason why companies deploy data integration platforms is that they solve multiple problems. Let’s learn about these problems in detail.
- 1.Cost
Modern data integration solutions reduce the need for manual tasks through features such as artificial intelligence and self-service. With traditional data integration methods, IT teams are required to create custom codes and implement data mappings to implement data connections. These manual steps are time-consuming, costly, and prone to human error.
Self-service data integration and artificial intelligence remove the need to code and build mappings and simplify the steps. These modern technologies enable non-technical business users to implement data connections much more quickly and securely. Business users can rely on pre-built application connectors, shared templates, AI-data mapping, intuitive screens, and dashboards to build data connections much more quickly.
2. Revenue Potential
Modern data integration solutions enable companies to create new revenue streams or go into adjacent markets by providing access to more information and connecting with customers faster.
Self-service data integration solutions empower companies to connect with customers to identify and meet the needs and requirements of those customers much faster. Now, that makes customers happy and satisfied. These happy customers are more likely to buy more products or services from the company. As a result, companies can create new revenue streams in business.
3. Efficiency
With the help of data integration solutions, companies can automate the steps in their existing processes. This allows IT teams to devote their time to drive more high-value tasks. This increased efficiency can help companies provide better results for customers while increasing the efficiency of teams.
4. Data Quality
With the right data integration solution in place, companies can validate the information and make changes to the records and documents. They can use an AI-data mapping approach to map data in an accurate and precise way. Ultimately, that helps companies integrate and use data for driving value generation. This approach offers more accurate data without needing business users to invest time in manual coding and other paper-based processes.
5. Customer Experience
Modern data integration solutions help companies increase customer satisfaction by offering them access to the information they require as quickly as possible. Business users need not manually respond to every request. By consolidating customer data companies automatically, companies can gain access to valuable insights in a way that’s personalized to the customers’ needs and requirements. As a result, companies can satisfy customers and deliver promised value sooner.
Learn how Adeptia’s self-service data integration platforms can help companies solve problems in business. Schedule a demo today.