In the modern age of data analytics, choosing the right data integration platform is imperative to enable data-led initiatives. Most companies are focused to become data-driven, but is it enough? Let’s delve into the concept of data-informed decision-making and how Astera helps modern enterprises simplify the ETL process to derive value from data.
In today’s fast-paced business environment, most successful organizations rely heavily on data integration when making high-impact decisions. Being data-driven gives you more confidence in the decisions you make as they’re backed by facts, not instincts. While intuition can add value to your decisions, it’s through data that you quantify, substantiate, and understand. So, it’s safe to say that a data-driven approach can lead to better business outcomes and steer your organization toward success.
Now, leveraging data in the right way is important to reap the benefits. These days, modern enterprises aspire to become data-informed to uncover the true value of data and supercharge their data-led initiatives. What does the term “data-informed” mean? And how is it different than “data-driven”? Let’s find out!
Understanding The Difference
A data-driven approach is when a business lets data guide the decision-making process. Companies that are data-informed use both data and intuition, leaving more room for human experience.
Of course, data-driven initiatives aren’t solely data-led. For instance, a company doesn’t take off an ad because of the low CPC but considers other factors and optimizes it accordingly.
However, a data-informed strategy has data integration at the forefront, allowing companies to see the bigger picture.
Which Approach Is Better?
Well, it depends. Both approaches have their strengths.
For instance, the data-driven approach is considered proactive and helps businesses make decisions faster. It also enhances consistency and allows organizations to improve and optimize decision-making.
On the other hand, the data-informed approach takes both data-driven insights as well as human intuition. It allows enterprises to isolate cause and effect, and see the bigger picture.
So, arguments can be made on which approach is more strategic? We’d say decide according to the scenario. They are not mutually exclusive and either one — if used right — can help propel your business toward success.
Some Real-Life Examples
The success stories of Amazon, Netflix, and Uber Eats are the prime examples of how utilizing data can steer a company in the right direction. They found sustained competitive advantage by using data the right way.
These companies leveraged both data-driven and data-informed approaches to expand their services and gain an edge over their competitors. So, the important thing to understand is the awareness of the context of the business decisions.
A Closer Look!
Let’s talk about Amazon. The leading e-retailer has racked billions of dollars in sales worldwide, and they have data analytics to thank for that – the company’s customer-centric approach was largely fueled by data along with suitable data integration platform.
For example, Amazon introduced a dynamic pricing feature based on several factors like competitors’ prices, shopping patterns, and more through data collected from various sources and stages of the customer journey.
Product recommendation is another area that played a significant role in Amazon’s growth. In fact, the company generates around 35% of revenue through its recommendation engine.
Both approaches are a great example of a data-driven strategy. However, there’s an influx of data flows in Amazon systems and as a result, they use modern data integration platforms to consolidate their data.
And that’s what data-informed decisions are all about. Rather than letting data control everything, they empower users to leverage contextual business information to support data-led decisions. Amazon’s chief executive Jeff Bezos shares the same vision. At an event hosted by First, he quoted:
The Role of a Data Integration Platform
Both data-driven and data-informed initiatives require a cohesive data foundation. An organization must have data pipelines to provide accurate and reliable data to decision-makers. That’s where an effective data integration platform comes into the equation, enabling organizations to utilize data for reporting and analytics.
Such tools allow organizations to collect, transform, and consolidate data from multiple sources to provide a unified view of the business information.
You might wonder: what are the benefits of data integration? Why would businesses not simply store all data as is and run queries to get the relevant results? Well, that’s the idea. But it’s essential to cleanse, transform, and validate the information coming in from disparate systems to ensure the data is free of duplications, errors, and inconsistencies.
And that’s what makes such software so worthwhile. Having reliable and accurate data helps businesses find answers to pressing problems and supports informed decision-making.
Astera Centerprise Data Integration Platform
Astera Centerprise is a code-free, unified data integration platform that helps unlock the true value of your data. Using our high-performance, scalable solution, you can efficiently and quickly carry out your data integration at any scale. Our solution helps eliminate data silos and consolidate data from different sources thereby supporting data-driven informed initiatives across the enterprise.
Why Choose Astera’s Data Integration Platform?
Our enterprise-ready, end-to-end data integration platform puts the process of data extraction in the hands of the business users. They can run ad-hoc reports to answer their specific business questions and then collect relevant data to assess the viability of their ideas.
The solution also reduces the data latency, i.e., the time it takes for a business user to retrieve data. Users can create their own data journey without heavily relying on the IT department. They can enrich their analysis from different angles to make data-informed decisions with confidence.
Enterprise Data Integration Made Easy!
We have a broad set of technologies that support enterprise data integration. What is enterprise data integration? It is the consolidation of business information or data sets from multiple sources.
You can leverage our data integration solution’s advanced capabilities like job scheduling and workflow automation to design the most complex workflows without any hassle.
Equipped with an industrial-strength, parallel processing engine, our data integration platform delivers unparalleled performance when processing large datasets.
Also, our solution features a vast collection of built-in connectors for both modern and traditional data sources. All these capabilities are available in a drag-and-drop, code-free mapping environment, making the entire data integration process faster.