For decades now, data analysts have closely studied the past in the hopes of understanding the present more clearly. With the power of data integration, they can stop hoping and start knowing. Data integration doesn't guess, data integration delivers answers.
Using data integration to match demand and manufacturing
If a business wants to shoot for the best time to capitalize on high demand with proportional manufacturing, data integration is its laser sight. Data integration picks out perfect information with pinpoint accuracy.
Producing a random amount of inventory to supply a vague assumption of demand is not a cost-effective strategy. The demand of a market is constantly shifting. What may be selling out for one week could fail to attract consumer attention by the next month. Manufacturers that focus on producing their inventory without a crystal-clear understanding of the market's demand are more likely to waste their budgets on mistimed production and disproportionate manufacturing.
With data integration, businesses can improve their market insights with access to real-time updating reports on live sales activity occurring throughout the industry. Instead of relying on the probable accuracy of predictive models built on past information, data integration instantly reports the most current and relevant information needed.
Data integration and predictive analytics
There has been a bit of discussion about how the potential of instant data integration may affect the popularity of predictive analytics. Predictive analytics are anything but pointless, but their information includes a margin of error by design.
Data integration is made to deliver perfect information. Rather than needing to account for a margin of error in their data, the primary challenge faced by businesses’ ideal data integration systems would be to determine the best way to leverage their perfect information. Predictive analytics can give analysts well-founded confidence in the likelihood of the most probable outcomes, while data integration shows exactly what is currently happening.
Whether current market behavior is in line with predictive analytics or a complete statistical anomaly, it is objectively true. Data integration leaves no margin of error to take the information that represents with a grain of salt.
Money saved through data integration
By being able to keep a constant window of accurate insight into the market demand, businesses with data integration-capable solutions such as Big Data Business Intelligence can avoid the risk of losing money on poorly-timed inventory production.
With data integration, overproduction and underproduction are no longer expensive misfortunes that the business can only cross its fingers and hope to avoid.
Accurate alignment of proper production volume with matching demand in the market will also spare the business excessive expenses related to its own employees. Data integration makes it easier to avoid unnecessary costs that might have otherwise been incurred by arranging for too many manufacturing personnel to work during a low demand period.
Data integration's ability to help businesses avoid unnecessary expenditure while making the most out of high demand periods in the market can dramatically boost its overall profitability. With data integration in place to set the tempo, a business can begin to regulate the rhythm of its production process until it gracefully synchronizes with market demand momentum.
Data integration gives analysts access to straight answers when best guesses aren't as practical. No matter what a business owner needs to know, every question about the market can be answered by data that exists in the market. Data integration builds bridges to the answers and drives them back home.
In time, today's most critical market information will become part of the history that future analysts may study and profit from. In the current time, data integration can give us today's most critical market information to profit from immediately.