Enterprise Data Integration – Everything You Should Know About It

The global data integration software market reached $3.37 billion in 2019, demonstrating that making data-driven decisions is a leading priority for most businesses. However, companies are still far from forging a data culture. That’s because they cannot use data insights in action as there is no clarity.

Enterprise data integration tools change the situation. They help companies visualize information and provide a single source of truth for all departments. Read on to find out more about this concept and how could your business benefit from using such tools.

What is Enterprise Data Integration?

Enterprise data integration (EDI) means integrating data into an organization from a variety of sources like applications and databases. This is required to provide a comprehensive view of the available information. Some other related processes include transforming and consolidating the data into a consistent format.

The primary goal of EDI integration is to help organizations make informed decisions, improve operational efficiency, and gain a competitive advantage. Having all the data aligned in a single, comprehensive format ensures businesses understand what’s going on to adapt their strategies.Data integration for enterprises covers different technologies. These include warehousing, modeling, mapping, and quality assessment. A strong governance framework is used to improve accuracy, consistency, and security. All this sums up better decision-making.

Why is Enterprise Data Integration important?

It is expected that the global EDI or data integration market will reach $19.6 billion by 2026, growing at a CAGR of 11%. This shows that more companies start understanding the value of the centralization of multiple data sources in a single source of truth. Let’s see what other benefits are provided.

1. Saves Time

If before you had to gather and analyze data manually, now enterprise data integration software automates most processes, which is significantly faster. Modern solutions also use artificial intelligence to provide relevant results that can be much harder when done by a human. The time saved can be used for other important activities.

2. Reduces Errors

Large-scale companies may have dozens of data sources with different locations. As employees should remember and analyze all the information manually, there is a high risk of making a mistake. You are likely to miss some important piece or be unable to notice a minor issue.

Enterprise data integration solutions “know” all the sources and locations. Moreover, the usage of AI can automatically weed out irrelevant files to provide the most accurate and real-time data for your team. Reducing the human effort in these tasks is a direct path to mitigating errors.

3. Improves Business Planning

When you have precise and up-to-date information on your screen, it’s much easier to make effective decisions that help your business grow. You may determine trends or find actionable insights. Additionally, EDI software often includes data visualization features that keep things clear for all employees.

4. Improves Teamwork

Companies often have multiple departments with different physical locations. However, it’s a frequent occasion that employees from these departments need to exchange information for their projects. Business data integration keeps everything centralized.

All teams are provided with a unified view of all the organization’s data. This is great because it standardizes the format and removes bottlenecks, and employees don’t have to wait for other team members to share data. It’s all available on demand.

5. Provides Valuable Data

As data is integrated into a centralized repository system, quality issues are identified and addressed, resulting in more accurate and reliable data. This becomes the foundation of advanced analytics, enabling the company to extract deeper insights and make better-informed decisions.