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Posts Tagged ‘data analytics’

Why is Data Integration Important and How Can We Achieve It?

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Image source: DKosig from Getty Images Signature via Canva

In today’s data-driven world, organizations are constantly grappling with an abundance of data coming from various sources and in different formats. Data integration has emerged as a critical process that enables businesses to connect these disparate data sources by consolidating them into repositories called data silos, creating a comprehensive and unified view of their information. This single source of truth empowers organizations to make more informed decisions and derive valuable insights for better business intelligence

These disparate data sources can vary in type, structure, and format. Successful data integration finds a way to connect these sources, either by building relationships between them where they reside or by periodically extracting, transforming, and loading data (a process known as ETL) from these sources into one big database dubbed a data warehouse.

Figure 1. Basic Data Integration in a Warehouse Diagram | Adapted from Data Integration and ETL: A Theoretical Perspective

For example, when sales data is combined with customer data, the organization can gain a deeper understanding of customer behavior and preferences, which would allow personalized marketing efforts and improved customer satisfaction.

Data integration can be challenging as there is no one technical way of implementing it. Rather, the process depends on the needs and resources of each organization. Organizations with no technical capabilities would need to seek a third-party service provider.

Read More: 6 Industries Using Data Science for Better Performance Reporting

Despite the variance across organizations, one thing remains consistent—every data integration process should be approached systematically by taking into consideration the following key strategic steps:

  1. Defining integration goals: Organizations need to clearly outline the objectives and outcomes they want to achieve through data integration. 
  2. Assessment of data sources: This includes identifying all the data sources within the organization and understanding the structure, format, and quality of the data coming from each source.
  3. Data mapping and transformation: This entails defining how different sources will be mapped to a common format. This may involve cleaning and preparing data silos in the first place.
  4. Defining technique and tools: Based on the previous steps, a technical decision should be made on how to do the integration and the degree with which manual labor and automation will be utilized.
  5. Building integration processes: This answers the question, “How will future data be integrated as well?” It involves defining workflows and processes that should be scalable, reliable, and capable of handling future data growth.
  6. Testing and monitoring: As data integration is a continuous process, organizations should always test and monitor the integrated data thoroughly to ensure accuracy, consistency, and reliability. Validating the integration results should be done against predefined criteria, along with making necessary adjustments if discrepancies are found or to adapt to changing data sources and business needs.

In conclusion, data integration plays a crucial role in enabling organizations to harness the full potential of their data. By connecting disparate data sources and creating a single source of truth, organizations can unlock valuable insights, improve decision-making, and enhance operational efficiency. Following a systematic approach and leveraging appropriate integration tools lets organizations achieve successful data integration and gain a competitive edge in today’s data-driven landscape.

Get more insights on data integration and management practices by exploring our articles on data analytics.

How managers and executives stay up-to-date with the latest advancements in data analytics

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Image Source: Canva

The field of data analytics is very important nowadays, considering how the business environment is going through continuous developments in terms of technology, innovation, globalization and sustainability. The field also faces various economic struggles and unexpected challenges. For these reasons, managers and executives must remain up-to-date with information and data to make the best decisions for their organizations and maintain their competitive advantage in the market by creating value for clients. 

To do so, I recommend managers and executives join different professional groups on LinkedIn where they can ask questions and discuss any challenges they are facing. They should also have subscriptions to various research journals and business magazines. It also helps to attend conferences where they can meet researchers and professionals from both the academic and business worlds. 

Furthermore, following business blogs, watching podcasts, and reading books are valuable methods to gather new data to make informed decisions. By being part of professional groups on social media and attending conferences, managers and executives can find out in real-time the challenges other leaders face, discuss them, and take on new ideas for implementation as early as the next day. These communities of managers and executives are valuable assets in today’s challenging business environment.

How can governments leverage data to improve performance?

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Islam Salahuddin is a data analyst with a strong focus on storytelling and data visualization, growing statistical knowledge, and developing a set of technical skills and tools. As an expert in data analysis at The KPI Institute, Islam leads the generation of research on the domain of data analytics and the development of business analytics toolkits.

Future-forward: using data analytics in app development

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Jino Noel is a data science and technology leader with extensive experience in building data teams and practices across different organizations. His experience ranges from working in startups to large conglomerates across both Australia and the Philippines. At the time of this interview, he was the Chief Data Officer at Data Analytics Ventures, Inc. (DAVI). Currently, he is the Chief Data Officer at Angkas.

What are the key skills that a Chief Data Officer should possess nowadays?

A Chief Data Officer should have both data-related technical expertise as well as people leadership skills. Leading will always be part of the job, particularly for highly specialized technical people such as data engineers and data scientists. To be able to lead them properly, I believe it is better to be a technical person myself, so I can discuss technical matters fluently, which helps me gain their trust.

What data-related challenges have you faced as the Chief Data Officer of DAVI? How did you overcome these challenges?

Our data-related challenges are the same as any company. Being able to trust our data, cleaning up data from our sources, data latencies, and other related issues. DAVI overcame these by investing in people—hiring high-quality experts in our data engineering, data governance, and analytics teams to help us make sense of the data coming in—and building robust data pipelines that have increased the standard of quality of the data in our data lake.

How does DAVI make use of advancements in artificial intelligence (AI) and machine learning to help its clients understand their customers’ needs and buying patterns?

DAVI has recently started using machine learning to model our users’ propensity to buy certain products. This helps us create more accurate target audiences for our precision marketing campaigns. We are also moving forward with a recommendation engine project, with the goal of improving user engagement with our retail partners and with our promos and campaigns. On top of this, we are improving our machine learning operations expertise to make our model deployments repeatable and robust.

In the digital marketplace, data analytics acts as a guiding compass for app developers, enabling the creation of personalized, high-performing applications that align with user preferences. By leveraging data, developers can understand nuanced user behaviors and preferences, allowing them to tailor apps to meet specific user needs and aspirations.

Dive deeper into these discussions by reading Jino Noel’s full interview with The KPI Institute. Download the free digital copy of PERFORMANCE Magazine Issue No. 26, 2023 – Data Analytics on the TKI Marketplace. You can also purchase a  physical copy via Amazon

How to achieve business goals with data analytics

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Harry Patria, the CEO of Patria & Co., is a data strategist and lecturer who founded a company that serves over 100 corporate clients, 200 analytical platforms, and 500 professionals. He is a Data Hackathon winner in the UK and graduated with distinction from his master’s degree to a PhD program with a fully-funded scholarship. Harry is a subject matter expert in several fields.

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