With data collection and management being thrust into the center of business intelligence and creating sustainable growth for companies, and the amount of data needing to be collected and handled skyrocketing, companies must become more efficient at the processes around data.
One area that must be focused on is data preparation. This key area prepares the data to be utilized in ways that are valuable to companies. Data collection comes in a variety of forms for companies, but it is typically done in spreadsheets that can often number in the thousands where data is input manually. Inputting the data is time consuming and can overwhelm an IT department.
In fact, InformationWeek magazine reports in a survey, that data professionals spend up to 80% of their working time on data preparation. Costs to companies IT departments are heavy and can sometimes drain their budget. As the amount of data collected continues to increase, this is a growing problem for companies. These tasks are time consuming, repetitive and can often be demoralizing for employees, yet their proper attention is required to ensure that the outcomes from the data is accurate.
Data preparation and management are labor intensive because they can use manual processes and because time means money small and even medium sized companies can be stretched. They should look to utilize key tools like a data mapping tool to automate the processes to data preparation and management. Here are ten reasons why utilizing a data mapping tool is beneficial to companies.
1. Human Error Elimination or Reduction
Data is typically input by humans into the system and for data to be usable it requires accuracy when being input and manipulated. When you automate data mapping and data preparation you vastly reduce or even eliminate human error.
2. Gathers Data from All Sources
Automating means that you are able to gather all of the relevant data from all sources where they need to be gathered. You can input data from all formats and constantly track any changes.
3. 100% Accuracy
When automating your data mapping and preparation from source to report you can depend on it being accurate. There are numerous ways to check accuracy that can be built into your processes.
4. Meet all Time Requirements
You can meet all time requirement whether they are project, company or even regulatory when you automate. The speed over manual allows you to always be on time.
Automated systems are adaptable to your internal systems and can be modified as your organizations needs changes. They feature centralized design, impact analysis, change activity logging, and immediate lineage. Data can be put into subsets and set up in predetermined templates. These features also allow for faster data input and recall.
6. Allows Your Team to Focus on Other Important Work
Data mapping and preparation is a key component for any project but the amount of time spent on it can cause an organization to place resources that are needed elsewhere on this tedious work. The greatest challenge and focus in a project needs to be placed on biggest challenge of applying or developing particular algorithms and analyzing the results. Automating positions your team to focus their valuable time on on analysis and implementing the results, so your organization gets stronger and more productive.
7. User Friendly
Automation software has user-friendly interface meaning even a novice in data integration can use it. When a process is defined, the rules implemented including security rules, everyone in your organization can collaborate without concern. This increases efficiency and output.
8. You Will Need Less Staff
Automation will mean that you need less staff on you data science team. Because these processes typically take 80% of the time this team will spend working, you might find that you can either relocate them to other tasks or you can shrink your organization.
9. Governance and Infrastructure
A core part of data mapping and preparation is understanding where the data came from, is it accurate and where it is at all times. There also must be a robust IT framework that allows for statutory compliance and reporting in regards to its storage, valuation, use, and deletion. In other words. There must be compliance over the life of the data. Automation software allows you to have a proper framework and to set the levels of compliance so that things will always meet your requirements.
10. Increase Analysis Frequency
The business world is moving more quickly all the time and your success might depend on how often and fast you can analyze data. Too often companies today get data analysis at a speed and frequency that does not allow them to make good decisions in time. By automating you position yourself to receive data reports as often as you need. You can do this weekly or even daily if things get critical.
With so many great benefits, companies should automate their data mapping and data preparation.