Question

When a business/firm grows and has their data in different places and on different documents/spreadsheets, why is integrating data so important to the business/firm?

Answer 1

Integration of data is inevitable in any business to properly analyse the various operations activities involved in it, to understand the progress of it and taking strategic decisions out of it. When data elements and flownof data is in different platform such as sales data in one platform , order level information and customers base, supplier payment related data in different platforms will create a vague situation of understanding the business scenarios. Integration helps in linking data together and properly classify in based on the different requirements. This helps in overseeing business needs, plan for better supply and demand planning, understand the process gaps and cusotmer fulfilment requirements etc. Without integration it will be difficult to generate synergy out of it .Every business need a structured approach which integrates various stakeholders together and plan , organizing, control and monitoring activities for the current and future needs..macro and micro environment factors such as economical and market changes, competitors strategy , benchmarking etc can be done only through integration of various data and generating Useful insights from those information.