In the midst of the COVID-19 pandemic, the question arises of how United States companies are planning to utilize data integration for a strengthened business view. What are they supposed to do? What would be their approach? A consolidated view is imperative for businesses to brave the effects of the corona pandemic. Taking the right steps to ensure a brighter future is extremely crucial.
According to an article published on Forbes.com, when disaster consequently impacts companies in a negative way, data that isn’t integrated will prove to be futile. The following are three tips for data integration amid the corona pandemic:
- Benjamin Gordon of Palm Beach talks about the awareness of the beneficial business metrics
The initial step, is to understand which of the company’s metrics are crucial in letting you make useful and strategic decisions. There are several major performance indicators or KPIs, which your organization can monitor. If people cannot ensure even a perceptible enhancement in the business, there is no point in tracking the KPIs.
It is necessary to prioritize KPIs, as they will assist figuring out which metrics are the most beneficial to know and which ones are simply not important.
Amid the corona crisis, Benjamin Gordon of Palm Beach believes that it is beneficial to know external data sets will be advantageous in spotting potential target markets. It would also mean understanding the number of weeks you can shell out money or pay expenses using business cash reserves provided that your organization is on a definite track to closure in the near future.
- Link your business data to a cloud-oriented BI platform
The singular function of any business intelligence (BI) platform is to combine as well as subsequently envisaging data. A cloud-oriented BI platform comes with numerous advantages. It includes letting you start operations more quickly rather than the alternative of setting up servers and using an on-site solution.
It is essential to remember that existing BI tools are very flexible when it comes to design, and developing a wireframe will consume more time than required. Therefore, do not waste time correcting the design of a dashboard before linking it to your business data. Once the information is linked, you can begin working with the data set and ascertain the most effective way to envisage it for your company’s management.
- Recognize the sources of data to support the key metrics
When you are aware of what information you would like to use, you should then know where the data originates. Is it feasible to connect right away to your company’s ERP system for gaining access to first-rate information? Do you know whether any data points require creating or need physical cleaning?
A combined business view needs the best data, which in turn would mean striving for 100 percent. Because of this, attaining quality information inevitably slow the process. Fortunately, you do not need to get 100 percent to get a combined business view. The objective goal amid the COVID-19 crisis is the ability to make the right decisions based on conceptual as well as directional data points.
Final words
Now that you have these tips handy, use them to make strategic business decisions. Take advantage of the data integration for business growth and development, especially during times of a crisis such as the current COVID-19 pandemic.