Data integration is a complex process in which data from a company’s various sources and IT systems are merged, improved, enriched and cleaned. The uniform presentation of this then provides insight into all the available data. The raw data can then be analysed and turned into smart data for commercial or other purposes. This Wiki explains data integration.
Internally, many systems produce a wide range of data entered by many different employees. The manual inputting of data can often be prone to errors which can lead to incorrect customer and prospect information which can have undesired consequences. By implementing a data integration framework, you’ll ensure that data is updated and maintained in an accurate and consistent manner, often centrally organised. It also allows different types of data to be integrated, thus improving efficiency to create a single customer view.
Taking the example of credit ratings, by integrating customer and financial data, employees no longer need to manually check a customer’s credit rating. Furthermore, all the relevant information relating to the customer immediately becomes accessible to everyone within the organisation. This means that sales receives the right information, negotiating on the terms of delivery and ensuring ‘safer’ agreements with customers. Ultimately, this reduces bad debt and disputes because everyone has access to the same up-to-date financial information.
What’s more, 20% of all data in company databases is liable to change. Ensure that you have all the latest company information at your fingertips by partnering with a specialist data information and intelligence partner.
Using the example of credit information, by integrating your data into your various systems and making the data readily available, various departments can make use of this data in a range of different ways:
An Application Programming Interface (API) enables companies to seamlessly integrate data from a variety of sources to create bespoke data platforms. With the advancements of APIs in recent years, companies are increasing their data infrastructure to gain valuable decisions. With the latest company information from Graydon, ensure you have the latest data on your customers and prospects to enrich your data strategies.