The fact that data together with the use of technology will be key to future economic growth has been widely known for some time. However, with 89% of companies facing challenges in managing data, it’s critical to find and use API integration tools to harness the power of data in the internet of things (IoT) era.
The purpose of data management is to continually refine and hone the quality of the data itself. Much like fuel in an automobile, simply filling it up with oil will lead to a clunky performance with the engine eventually cutting out altogether. The gas needs to be refined and treated in order for it to do its job efficiently.
Data works much in the same way. The key is to get dispose of the data – whether its duplicates or incomplete – that gets in the way of business performance.
Getting a grip on data management will enable companies to fulfill the enormous potential data offers to increase efficiency and maximize profits. The right tools for businesses will help to:
By streamlining and automating key processes, companies can dedicate more resources to customer care, allocate more space for volume capacity, and have more time to explore ways to increase revenue.
To utilize the full potential of data integration for, it’s essential to find the right tool and implementation process. In this article, we will review the steps companies need to take:
At the first stage of integrating APIs and improving data management, it’s essential to define the purpose. Defining those goals will help companies develop the right data strategy and find the most effective integration tools. For instance, one business objective could be to improve the visibility of customer details - which would involve integrating data from CRM and invoicing platforms through API.
The alignment of goals with business objectives is key to a successful data integration strategy. Whether it is sales, marketing, or improving customer satisfaction - each of these objectives will rely on integrating different systems and its own set of data.
Streamlining the data towards specific goals will enable API components to communicate seamlessly and further automate business processes.
As the role of data becomes increasingly critical for business performance, the type of integration companies opts for can prove vital. There are four key types of data integration techniques to consider:
Depending on the type of business and its goals, it’s essential to consider the different integration options before moving ahead. For small companies with limited data - a straightforward consolidation may well prove to be the most efficient approach. However, for an ambitious company with plans for growth, a more advanced approach, like iPaaS, would be more optimal.
In addition, having a data management system in place, supported by integration tools will enable companies to maximize the potential of API integration. The crucial link between backend systems and applications relies on high-quality data and seamless automation of processes.
The purpose of data integration is to generate more value from the information a company already has. As we move into the IoT era, the role of data is becoming ever more critical. Data is the fuel for the 21st century economy, and the more refined the fuel is, the better it performs.
Having a healthy set of data with a strong infrastructure in place will put any company in a position to take full advantage of the latest technology. By working with an IPaaS solution such as Universal Adapter, companies will be able to fully leverage that data, while integrating multiple processes and applications.
The sobering reality is that 55% of all data collected by companies is wasted. This is known as “dark data,” and up to 36% of US businesses estimate that over 75% of its data falls into that category. On the flipside, it represents a real opportunity for companies to get ahead of the game and steal a march on their rivals.
Simply by managing their data.