Data Harmonization - The Ins and Outs, And Why You Need It
Over the course of your company’s lifetime, it’s been accumulating data, and it might seem like it almost has too much data to sort through sometimes. But in the right hands, with the right tools, that data can be almost all powerful. It can teach you things about your business and your customers that you’d never thought possible. And the good news is, everyday now, every company on earth is accumulating more data faster than it was the day before.
But first, in order to make sense of all that data, you need to harmonize it.
In this day and age, it doesn’t matter if you’ve been around for 20 years, or just a few years. Inevitably, you have gathered a plethora of data. In your possession is an enormous array of information that’s come from a wide variety of avenues.
Think about all the research you’ve commissioned, the surveys, the interviews, or the information you’ve scraped from the internet. All of this information comes in different formats, and in order to makes sense of it as a whole, it needs to be harmonized. Data harmonization is all about creating a “single source of truth.”
How TABS Analytics Harmonizes Your Data
In simple terms, what we’re doing is first taking that scattered data and cleaning it of any inaccurate or misleading items.
Then we present it to you as a whole. We want it to be easy to use, and easy to understand because we believe that alongside the delivery of technically superior solutions must come superior experiences as well.
This means that with us, you’ll get a one window view of everything and anything that supports your ongoing decision-making. That’s including financial information and business performance.
We’ve been experts in the data industry for two decades and this is really central to what we do. We saw a flawed industry where ineffective data was being turned into unusable insights. We decided that there was a real need to provide analytics that actually make money for the companies who use that information.
The Benefits Of Data Harmonization
If you’re like most businesses, your data is likely dispersed across a broad array of avenues. Right now, if you’re collecting data from a variety of sources, and collecting it in in different ways, then what’s sitting in front of you is certainly not uniform.
TABS Analytics helps companies like yours manage and analyze the data from the many disparate sources out there right now. At TABS, we can help you take all that data and bring it together, making it work as a cohesive whole. That’s what we call data harmonization.
Harmonizing and integrating all of your data is critically important for one major reason. When you harmonize the data, you gather all of your company’s insights and opportunities into one easy to interpret format.
Complete Data, In One Place
This means that throughout your organization, you’re using the same source of data, meaning that you have one guiding light to navigate from, which reduces confusion and increases efficiency.
Bringing together all of your data takes time. It takes time to find it, to prepare it and deploy it usefully. But when you bring in TABS to help you harmonize that data, we create a unified source of knowledge that your whole organization can pick from, which means that the deployment of new technology involving analytics can be more effective, and faster.
If you’re spending less time scrambling to find the right source of data, then you can spend that time more effectively elsewhere. You reduce the actual cost, and the opportunity cost of handling and effectively using data.
Confidence In Your Data
When you know where your data is coming from, when you know it’s all aligned and can be interpreted with confidence because you know it’s uniform, then you can be more confident in your decision making. If you are even a bit unsure of the source and the truthfulness of your data, you could hesitate to make decisions, and that hurts you as a leader and your business as a whole.
That’s not the only reason why data harmonization and a single source of truth are critical.
By 2020, experts in the know predict the world will produce 163 zettabytes of data.
The amount and variety is only increasing. Its volume will only grow as handheld devices and others connected to the Internet continue to grow exponentially.
This is more than 10 times what’s currently created.
At TABS analytics, we’re here to help you better understand the information that can reveal where your company is and where it’s likely headed. It’s the companies and individuals that learn to manage their information that will be the ones who place themselves in a position to win big.