53% of businesses cited data integration as the biggest challenge they face when working with multiple data sources.
#Benefit 1: Improved Data Accuracy
When data is sourced from multiple locations, it is typical for discrepancies and errors to occur.
A study by Harvard Business Review found that managers spend around 10 to 20 hours per week searching for information, with inaccurate data being a significant contributor to this inefficiency.
Imagine a business that pulls data from two different sources for its monthly sales report. One source uses net sales, while the other uses gross sales. If the company does not realize this discrepancy and reports net sales as gross sales, its report will be inaccurate.
Grow's Business Intelligence technologies provide seamless integration with various data sources, enabling businesses to collect, organize, and analyze data from multiple systems in one place. This ensures that data is complete, up-to-date, and accurate.
#Benefit 2: Easier Data Management
The Younique Foundation uses Grow’s Financial & Administrative Dashboard to monitor donations and fund free healing retreats for female survivors of child abuse in a tranquil area in the Rocky Rockies. Survivors can discuss their experiences, participate in group therapy sessions, and receive some pampering while at the retreat.
Because they are concerned about the ongoing success and healing of the women they assist, the Younique Foundation regularly monitors the development of survivors after they return home from the retreat. In this way, Grow’s Full-Stack Business Intelligence Software assists them in obtaining the information necessary to offer this healing to a growing number of women every year.
#Benefit 3: Faster Reporting
Suppose you're a retail company with sales data stored in two different databases, one for online sales and another for in-store sales. You must integrate data from both databases using a Business Intelligence data visualization tool to generate reports on your overall sales performance.
Now, imagine that the structure and format of the two databases are different, making it challenging to combine and analyze the data. This can lead to time-consuming data cleaning and transformation processes, slowing down the reporting process.
However, if you were to keep the data sources consistent using a standardized format, such as having both databases store data in the same format, you can streamline the integration process. Grow analysis and reporting is your best bet for the same. Read Grow data dashboard Trustradius to know more.
Challenges to Maintaining Consistent Data Sources
Maintaining consistent data sources can be a challenge for businesses. Some of the potential obstacles include data quality issues, data governance policies, and data integration challenges.
Strategies for overcoming these challenges
1. Data governance policies - This can include things like data entry standards, data validation rules, and data quality checks.
2. Data integration tools - Using data integration tools can help businesses bring together data from multiple sources consistently and efficiently. This includes ETL (extract, transform, load) tools and API integrations.
3. Regular data quality checks - Regularly checking data quality can help businesses identify inconsistencies and errors.
Key Takeaways-
Overview of Grow’s specific features that support data consistency
1. Data connectors - Grow dashboard offers a wide range of data connectors that allow businesses to connect to various data sources, including databases, CRMs, marketing automation tools, and more.
2. Data transformation tools - Grow's data transformation tools allow businesses to clean, normalize, and transform data from different sources, making them ready for analysis.
3. Automated data refresh - Grow's real-time data refresh ensures that data is always up-to-date, even if stored in different locations.
As Grow's best Business Intelligence tools provide companies with a centralized platform for connecting, transforming, and visualizing data from multiple sources, the users get nothing but excellent insights for their business.
With features like 100+ data connectors, data transformation tools, and automated data refresh, access the power of consistency in your data sources now!
