What is data consolidation?

Matthew Rhodes | 18 October 2017

With so many sources of data available, it can be difficult to know where opportunities lie. Wouldn’t it be much easier if you could see exactly what you need?

Great things happen when your data comes together

Data consolidation means collecting, linking and integrating information from different sources depositing it into a single location. It can involve consolidating a few spreadsheets into one or collating the data from a range of wildly different systems and analytics tools.

The value of consolidation is in the insights it generates. With a central repository of information, you can see what’s working and what isn’t. You can also cleanse data — finding out if the same name appears in all five of your sales target databases. At which point, you’re in a great position to move forward.

Delivering real, business-focused outcomes

Working with a global business recently, we created a better understanding of return on investment by benchmarking historic sales data, linking it to investment activities and measuring sales performance both pre- and post-activity. This is the real kind of value we see continuously generated from bringing data together.

Data consolidation isn’t just vital to creating better sales and marketing functions. It’s the core of effective customer service. In many companies, data is still siloed, which means there’s no single, comprehensive view of customer information. Consolidation allows companies to know what their customers were sold yesterday, what they’re doing operationally today and what they might do tomorrow ‒ if they receive the right marketing data.

Do you need to consolidate your data?

There’s simply no point having access to all the data in the world if you can’t bring it together into a single source. Or make it available in an understandable and easily comparable format. If you’d like to find out how we can help you gain one single version of the truth, get in touch today and we’ll be happy to take you through some ideas.

 

Tags

Data analytics Data silos Data consolidation Data insights Data integration Single version of the truth

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