It’s been said that data is the new oil. And most businesses are working to get the most out of their best resource as quickly as possible to spur business growth. But when data is hidden in pockets across your organization, it’s hard to decipher the collective value. You don’t know how much you have or the most effective way to use it.
It makes sense that organizations have data silos. Each area of the business wants the right tool to collect the right data. These tools include:
- Sales CRM
- Marketing automation
- Billing systems
- Product telemetry
- Web analytics tools
- Human resources platforms
- Software Development Management
- And so many more
The challenge comes when you want to make decisions based on data from all of these sources. And you can’t, because the data is stuck in those silos. Data- and insight-driven businesses need a strategy that supports data integration to a central source of truth.
Data silos limit business growth
The concept of data-driven decision making is nothing new. But most organizations are still struggling to make it a reality. EY reported that 81 percent of organizations believe that all business decisions should be made with data. However, those organizations are still using analytics in isolation, limiting the potential to increase performance and efficiency.
So how can your company remove data silos to stay competitive in your industry? Ed Thompson, Matillion CTO, shared the two key things all enterprise businesses must get right when overcoming data silos in an article for insideBIGDATA. You can read more and share your feedback here.
Legacy systems aren’t the answer
Companies with a centralized view of their data, amassed from a variety of sources across the organization can move faster and solve business challenges. Their data-driven approach pays off as they are able to provide better customer experience and increase revenue.
Capitalizing on data insights from a variety of sources can be a challenge for businesses with legacy technology. Most of these systems are not able to easily process massive amounts of data without performance challenges. Before you spend more money on your on-premises data architecture, consider performing your data integration and analysis inside a cloud data warehouse.
Centralized data analysis courtesy of the cloud
The long-standing problem of data analytics and faster time to value is becoming less of a challenge with cloud-based solutions that alleviate the cost associated with data integration and data transformation software. When teams take advantage of SaaS products and platforms, the cloud is a great place to store and share data across departments.
Data integration products that extract, load, and transform data are essential for businesses looking to remove data silos and derive value from their data. Our data transformation software enables companies to join together siloed data, denormalize it, add value, and embellish it with business logic and metrics to make it ready for analytics. Plus, Matillion ETL is purpose-built for the cloud – we leverage the power and performance of a cloud data warehouse to transform data with a lower cost, scalable solution. Interested in learning more about consolidating and exploring the data that gives your business a competitive advantage? Download our ebook, Modernize Your Data Warehouse, to learn the benefits of moving your data warehouse to the cloud.