Data Silos to Automated Insights : Uncover Marketing Potential
“72% percent of the firms find managing multiple CRM systems across geographies or technology silos moderately to extremely challenging” – Report by Forrester
Amid market evolution, technological advancement and rising customer aspirations, the only way a company can keep thriving is through ‘Data’. Data, without a doubt, has become the most powerful business resource around the globe today. Keeping up with the demand, the number of tools available for data collection and analysis continue to soar, but so does the frequency of data silos.
Most enterprise decisions are sensitive to data flux, such as customer’s online activity, point of sale transactions, and latest trends. They need a precise, timely and sophisticated analysis at their disposal to make sense of consumer’s behaviour. Therefore, everyday more and more enterprises are taking steps towards a data-driven strategy.
Most businesses’ mistakenly try to rub off insights from data silos, leading to inaccurate and incomplete insights. Whereas, some stalwarts who do understand the importance of rupturing data silos and making a centralised enterprise-wide data pool before analysing, find fetching/downloading and integrating tons of data manually – tedious and time-consuming. Overall, the problem with data silos spewing false insights remains unsolved.
“The data, which you have been looking for to back up your next big-it decision is out there — if only you knew how to access it”
Data Silo ?
A data silo is simply a data store that is not easily accessible to anyone other than the ones who create, maintain or own it. In essence, data exists across different enterprise units, organizational functions, and CRM systems; but is not accessible readily to everyone in the enterprise. Data silos can be birthed by several phenomenons, such as mergers/acquisitions, multi-layered management, stringent departmental data policies, aggressive independent work culture, lack of proper data sharing processes, inefficient technical interoperability among datasets, etc.
Through this bitesize blog, we will take you and your firm from data silos to automated insights, step by step.
Step 1 – Central Repository
Data remains siloed as long as it is disconnected. Therefore, the very first step is to connect the data from multiple data silos/sources and store it at a centralised repository. Fetching & Integrating data sources spread across varied technologies and geographies is done using the ETL process (extract, transform and load).
Though the power of business analytics in decision making is a common knowledge now, yet most of it remains just talk. The reason is old and simple – Absence of clean data.
There is a hefty preparation cost associated with data. Acquiring and preparing data eats up almost 80% of the total time that goes into analytics. Although the ETL process can be carried out by in-house experts as well, yet handing over to experts is considered as a best-practise.
DataChannel is a completely self-serve no-code SaaS platform used for Data Aggregation, Analytics and Visualization. It can carry out ETL from hundreds of different data sources/silos, at a user defined frequency and integrate them into a harmonious normalized form, ready for further analytics.
Step 2 – Visualize & Analyse
The next step involves real-time analytics and visualizations of this integrated data. Preparing reports, charts, graphs, etc manually from data silos across the organisation can be a daunting task, and is easily prone to human error. This problem can be easily solved using an advanced business intelligence (BI) tool for visualization. All you need is a homogeneous and normalised data repository. DataChannel can help you here, by letting you visualise the integrated data using the tool of your choice. You can also use the in-built dashboard as well.
Data silos can happen even to the most careful and the very best of the organisations out there. Infact, It’s never too early to ask yourself – “How is my company addressing the issue of data silos”?. Collection of the right data was your job, but making it useful for you requires an altogether different skill set.
As you embark on the journey of making the invisible data visible, let DataChannel hold your hand along the way. DataChannel would like to help you take the control back, by making your data show deep business insights for your advantage. It offers more than 100+ API connectors that work tirelessly at the frequency of your choosing to ensure a timely in-flow from multiple platforms into the warehouse of your choice.
The platform also offers various pricing plans according to the client’s needs and custom requirements. By rupturing the data silos within your enterprise, you’ll be able to harness data’s true potential and market into untapped opportunities.
Move from Data Silos to Automated Insights in minutes with DataChannel and Uncover your organisation’s true potential! Book a demo with us now!