From the Blog

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2021-04-15

How Organizations Can Use Data to Gain a Competitive Business Advantage

 The data revolution is sweeping through our economy. And no organization can escape its effects. Dramatic improvements in data-driven technologies to obtain, process, and transmit information are changing the way we do business. 

Most CIOs know that the data revolution is underway, and only a few dispute its importance. With more and more advancements happening in the world of technology, organizations are able to leverage data to gain a competitive advantage over their rivals. However, in the face of rapid change, many companies fail to harness its true potential. 

The need arises to comprehend the customer data with ease and speed and use the insights garnered for proactive decision-making. But this is easier said than done especially in such desperate times. 

Statistics show that companies with a robust data-enabled environment are the ones that can weather this historically challenging environment like a pro. These are the ones that are using a rich trove of analytics and next-gen data-enabled technologies such as data integration to help users leverage customer data, do jobs better, and ultimately deliver the exact goods and services that their customers wish – at the speed of business. This is what gives them a distinct edge against the competition. 

Does Your Business Use a Data-Driven Approach? 

Data was and continues to be a gold mine for many enterprises around the globe. Countless product improvements and optimizations have been made on the basis of the insights gathered from data of customers. 

Fast-forward to the present day, a plethora of business teams and investors continue to consider data to be the ultimate differentiator. 

Though this is true, it is equally important for businesses to harness the true potential of this data – and the role of a powerful data integration technology comes into play here. 

Smart organizations take the help of modern data integration aids to consolidate their data and use it to the best of their capability. Most importantly, these solutions empower people and processes to orchestrate that raw data to benefit business users throughout the organization. These integration platforms have in-built components and functionalities such as pre-built application connectors, shared templates, monitoring dashboard, and much more to onboard, track, integrate, and use data without compromising complexity or speed. 

These functionalities empower all business users residing in a company and give them the power to harness the true potential of data. Users can leverage intuitive screens and dashboards to keep track of data with ease. Pre-built application connectors enable users create faster data connections and directly exchange data with popular cloud applications such as NetSuite, Salesforce, QuickBooks, Magento, and more. Shared templates enable users receive or send, such as invoices, orders, inventory information, shipping information, leads, contacts, contracts, etc. Users can employ these functionalities to integrate information without having their IT teams execute complex coding mechanisms and time-consuming EDI mapping. 

In the absence of these technologies, organizations will find it extremely difficult to quickly comprehend their customer data and deliver value. Not to mention, the cost involved in gathering up resources and incurring delays will be pretty high. So, if you want your business to use data properly, it’s important for them to use a good data integration platform that not only empowers techies but also non-techies to handle data in an effective manner. After all, it’s everyone’s responsibility to use customer data for gaining a competitive edge over others.