The world is being overrun with data.
As per various studies, new information generated per second will reach 1.7 megabytes. Now, considering the increasing population on the planet, the amount of new information is equivalent to more than 25,000 hour-long videos.
Analyzing such large amounts of data is absolutely essential. But for a multitude of companies, this data sits in databases and dashboards, never to be used. The good news is that instead of letting the information to go unused, companies can use it for strengthening their growth strategy to make well-informed decisions.
In this blog post, we’ll discuss data-driven decision-making in detail and discover the role of self-service-powered data integration platforms in making this process smarter than ever.
Decision-Making in Business
Rather than going with a strategy that companies think is best for them, data-driven decision-making is a strategy that employs data to make smarter decisions.
To make informed decisions, analysts must group together historical information to analyze data gathered from different sources, in various formats. The value extracted from all this data can be employed to make decisions for the future based on what’s worked in the past – rather than making decisions based on gut feelings, opinions or experiences. When done properly, companies can gain a competitive advantage, enhance profits, and cut down costs.
While a lot of technologically-sound resources can help companies drive the process of decision-making, a user-friendly data integration tool is deemed important. Not only can these transformative solutions help business users ingest all kinds of data but also analyze them faster to deliver maximum customer value.
Let’s delve into details.
Leverage Data Integration Platforms to Drive Decision-Making
Data resides in various formats and forms. Users need to absorb these myriad data accurately in order to leverage it without compromising integrity or quality. Once all the data is ingested, the next step is to transform and integrate it into a unified database, where the information can be stored and used to make business decisions. What organizations need to accomplish these tasks is a self-service-powered data integration platform.
Self-service-powered data integration platforms can enable all business users (even non-technical users) integrate large amounts of data and extract value from it, driving decision-making and ultimately making companies easier to do business with. With next-gen features like AI-powered data mapping, pre-built application connectors, shared templates, user-friendly dashboard and more, companies can rapidly harness the true potential of data and leverage it for making smarter decisions. Plus, these solutions also offer an end-to-end encrypted environment that can help companies transfer and exchange between business ecosystems without any risk. The users are individually authorized and authenticated when they are registered and log in to the application. This saves companies from all kinds of data breaches or thefts that can further impact the process.
Not to mention, all this can be done without relying on IT excessively. Meaning that IT teams need not carry out the process of data integration all by themselves, which was the case earlier. This frees IT to focus on more demanding tasks which, in turn, helps companies ride the innovation wave with ease.
Simply put, for any company to grow and expand faster, their decision-making process must take less time and effort. In doing so, they will need a self-service integration platform that not only drives the decision-making process but also helps companies realize better returns.