Have you ever heard of data consolidation? It is a process that many businesses use when they have a lot of data stored in different places. By consolidating their data, they better understand it, analyze it more easily, and use it to make crucial decisions. For this to happen, they must combine all their data in one place, making it easier to read and use.
Data consolidation is a critical process that gathers, merges and saves data from multiple sources in one place. The terms data consolidation and data integration are often used alternately. It is important to note that data integration and data consolidation refer to the same concept.
Modern businesses collect data from different sources, like CRM software, product databases, IoT devices, etc. Although the data collected by these tools is valuable in its limited silo, when combined with the rest of the data that companies collect, it can provide more value.
The process of consolidating data involves 3 things:
Consolidating data sources allows companies to plan in an efficient way, execute, and implement business processes and even disaster recovery solutions. This is happening because having all important data in one place makes sure that users have a 360-degree view of all their business assets.
It leads to an improvement in data quality, fast-tracks process execution, and simplifies information access. Consolidated data also makes it easy to identify trends, patterns, and insights that can help optimize business processes and support data-driven decision-making.
In a nutshell, data consolidation is an essential process for several reasons. Let's explore the top 4:
There are a few topics you need to consider checking if your business will benefit from data consolidation. Here are the three main ones:
Data consolidation can bring several advantages to businesses by providing a complete and accurate view of their data. By identifying duplicates, enriching data, and using combined information for decision-making, companies can save time, effort, and resources and provide better experiences to their customers.
CrateDB simplifies the data infrastructure by providing a real-time unified data repository that natively supports multiple data types. With CrateDB, data consolidation becomes effortless as it offers a single source of truth that is kept updated in near real-time.
Additionally, CrateDB reduces TCO by delivering high performance, scalability, and flexibility. It also simplifies management and maintenance, provides data synchronization, and empowers data applications with support for AI/ML, enabling businesses to overcome the challenges of growing complexity.