The core challenges in becoming data-driven
There is a lot to be said about the advantages of becoming a data-driven organization. Data-driven approaches lead to better decision-making, deeper understanding of your markets and clients, expansion of domain expertise, and overall increased growth opportunities. Getting there is the big ‘how’-question. Because data-driven organizations face a number of common challenges that are crucial to solve in order to come out on top.
Not enough or a lack of quality data
It’s a tricky subject: poor quality data. Having inaccurate, outdated, or incomplete data will lead to decision-making that can seriously harm an organization. It’s one of the biggest challenges in data management. Because how to know when there is enough data to interpret? Will it require hiring teams with data analysts, new tools, or systems?
A simple example of siloed data is when the information on your marketing reports are not integrated with those of your sales teams. Both departments will think and act according to the data they have gathered but integrating the two is what really makes the difference for your business results. Siloed data is a known challenge in organizations that lack integration expertise or integration platforms that can combine all these distributed data sources.
Analyze and visualize
It is one thing to be able to gather data, it’s another to interpret it correctly and visualize it in a way that makes sense to your operational teams. Having the right personnel and tools to make data useful is a common challenge for data-driven organizations.
Infrastructure is the big one when it comes to challenges. Especially for large organizations that have a whole range of various data entry points coming from third-party providers, CRM systems, on premise components and cloud-based services. Not having the right integration architecture and data infrastructure to combine all these sources of information is becoming a growing problem. Not to mention, a security risk. Especially with the rise of digital transformation where more and more services require interoperability and a secure, and controlled exchange of information.
Why an iPaaS is vital for data-driven organizations
What does an iPaaS have to do with becoming data-driven? An integration-Platform-as-a-Service (iPaaS) ensures that your data transforms into clear information that can be used for data analytics, A.I. applications and new business models. iPaaS solutions basically provide the whole toolbox, the container in which you can put all your services and applications, but also comes with built-in tools to help you extract more insights and connect your data sets. So in essence, iPaaS solutions tackle the biggest challenges for data-driven organizations: providing a user-friendly infrastructure to build your data points around
Better business through better data interpretation
As we’ve seen in the challenges, harnessing data is essential for the future livelihood of your organization. And interpreting data is where the magic happens. Better tools for analyzing and extracting data helps you create new business models, optimize your sales and marketing, and in essence leads to better decision making across the board. To achieve all this, your data will have to be secured, organized and accessible for the right stakeholders. Integration-Platform-as-a-Service solutions play a vital role in the following:
Transforming your data into applicable information
With an iPaaS solution you can combine data from different departments, tackling the challenge of siloed data, guiding your teams to make better-informed business decisions.
Built-in API Management to discover new business models
Most iPaaS solutions come with an API Management feature or platform. API Management helps you connect different applications and the data enters your iPaaS in a clear and structured manner. Having a wide range of data streams helps to discover new business models and market opportunities.
Better and more secure data storage
Integration Platform-as-a-Service solutions come with a wide range of features to better secure and store your data. And better data integration allows for the possibility to create multiple levels of data storage. Whether it’s data lakes, vaults, warehouses or other data storage concepts; iPaaS solutions let you cherry-pick and identify the necessary information from your storage and apply it to various data analytics tools and A.I. solutions. All done in a safe and secure manner, where access is often controlled through Identity Access Management features on your iPaaS solution.
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The step to becoming data-driven is easier than you may imagine
Integration Platform-as-a-Service solutions bring you data-driven capabilities right out of the box. Connect the dots between your data points and let new business models unfold with your API-first approach.