Data aggregation is the process of gathering data from different sources and combining them into one place. Data aggregators can be used for many things, including predicting trends, identifying potential customers, tracking your competitors, analyzing customer feedback on social media, and much more. This guide will introduce you to all the ways that data aggregation can help your business.
Table of Contents
- Data Aggregation for Big Data
- How to Use Aggregated Data for Business Purposes
- Why Are Data Analytics so Important in Business Today?
- What Are the Benefits of Using a Centralized Database?
- How to Aggregate Data
- What Is the Future of Data Aggregation?
- How Integrate.io Can Help
Data Aggregation for Big Data
Data aggregation can be used to process and analyze big data. Big data has become an integral part of the business world because it allows businesses to make more accurate predictions about trends and future plans.
Big data gives you access to valuable information that can be used to plan new products, services, and campaigns. It is often difficult for businesses to gather big data on their own. Data aggregators can collect information from various sources and package it in a way that is easier for businesses to understand and, most importantly, use.
How to Use Aggregated Data for Business Purposes
It's important to understand that data aggregation is only valuable when it helps you make better business decisions. So, before considering the different ways in which aggregated data can help your company, you need to identify what information will be most helpful for decision-making purposes.
There are many ways that businesses use big data and social media analytics every day, but here are some of them:
- Identifying potential customers—For example, it's ideal for targeting people who have already made a purchase or are in the process of doing so. This way, you know they're interested and might be willing to take action when presented with your offer.
- Determining business' strengths/weaknesses—Companies need to understand what their company does well and where there is room for improvement. You can use social media data analytics tools to measure sentiment about your brand across all available channels, including Twitter, Facebook, blogs, reviews sites, etc. This allows companies to identify both positive comments pinpoint negative comments and address those issues.
- Tracking the competition—It's essential to know your competitors, what they're doing, and how you stack up against them. This allows companies to improve their own strategies by studying another company achieving success in a similar industry environment. Data analysis tools can help with this process, allowing businesses to see which marketing channels work best for themselves and their competitors.
- Social listening— This allows companies to "listen" in real-time to what people say about their products on social networks like Facebook or Twitter. They monitor conversations happening on these sites for brand mentions, customer complaints with a product, etc., so they can respond accordingly. By tracking this kind of feedback, brands get insights into what people think of their products, which can help them make better business decisions.
- Predictive analytics— This type of data aggregation allows companies to predict future trends and customer behavior by providing valuable insights into the needs and interests of customers. For example, if you run a retail store that sells only summer clothes, big data shows your current customers' preferences for fall clothing. It's time to stock up on new inventory before everyone else does.
- Customer relationship management (CRM)— Big data provides businesses with customer data, including information about existing relationships. Hence, they know who their most loyal customers are and who may be considering competitors.
Why Are Data Analytics So Important in Business Today?
Big data has changed the way companies do business and how they interact with customers. It gives them access to valuable information that can be used for many different purposes, such as increasing customer satisfaction, improving internal processes like supply chain management or staff scheduling.
Data aggregation helps businesses better utilize resources because it also provides managers with new tools for planning and forecasting future sales volumes. In other words, big data gives businesses a competitive edge by helping them make more informed decisions about their products, which allows companies to provide better service than competitors.
What Are the Benefits of Using a Centralized Database?
A centralized database that integrates all of your big data in one location provides businesses with many benefits, such as:
- Improved decision making—A centralized database can help businesses make better decisions by providing access to information gathered from multiple sources, providing a complete picture of the company and its customers. This helps companies avoid costly mistakes or missteps.
- Reduced costs and increased revenue—By bringing data from different departments and teams (e.g., sales, shipping, marketing) into one place, big data allows for more streamlined operations. It also brings a faster turnaround time on essential tasks like planning projects or building new products based on customer demands, which leads to higher revenue.
- Ease of access to information—A centralized database allows businesses easier access to the information they need, so it's perfect for quick decision-making and accessing important reports when required.
- Better communication—A centralized database helps improve communication between departments by providing employees access to relevant information about past projects to help them complete current tasks more efficiently.
How to Aggregate Data
Data aggregation allows companies to collect information that's been gathered from multiple sources.
Companies use various tools and techniques to assemble big data, but one method is called ETL (extract, transform, load). With this technique, the extractor pulls out relevant subsets of data from various databases. It then transforms them into a unified format compatible with more flexible downstream systems. After extracting and transforming all necessary pieces of information, ETL loads the new dataset back into your business' database where any authorized user has easy access to the information they need.
What Is the Future of Data Aggregation?
Since big data has such a powerful impact on businesses, it's only set to become more popular as time goes by. Now that people are starting to realize how accessible and valuable this information is for making better business decisions (and improving customer experiences), we'll probably see an increase in demand for providers of data aggregation tools over the next few years.
The biggest challenge will be keeping up with emerging technologies to make sense of their data without needing too much technical expertise. This means finding an easy-to-use platform that can help companies make sense of their data warehouse by providing a visual representation. By doing so, they'll be able to stay ahead of the curve so their businesses can grow.
How Integrate.io Can Help
Integrate.io is an enterprise-grade data aggregation service and API that can help your business better utilize big data analytics. It's explicitly designed to automate and simplify the process of collecting massive amounts of information from different platforms into one central location, giving you access to all kinds of powerful, actionable insights. Data collected by Integrate.io contains valuable information about customer behavior, preferences, and product performance metrics, so you have everything you need to make crucial decisions or plan future projects more accurately.
Integrate.io features an easy-to-use interface that requires no coding or technical experience, so it's perfect for companies who want full visualization of their data without needing to hire experts. Plus, Integrate.io comes with a suite of prebuilt connectors and integrations (i.e., "data sources") which can be used as they are or customized, depending on your data management needs.
To learn more about how you can aggregate all the essential information from various platforms into one central location, schedule a 7-day demo of Integrate.io.