What is Centralized Data in Business?
Centralized data in business analytics involves consolidating information from across an organization into a single system for easier analysis.
“This aspect of business intelligence and analytics is important because it gives companies visibility into KPIs at a high level,” says Brandon John, BluWave’s Service Provider Relationship Manager.
The consolidation usually happens in something called a data warehouse.
Read More:What Are the Different Data Warehouse Types?
Business intelligence practices like centralization are becoming more and more important to businesses, whether that mean private equity, portcos or private and public companies.
According to our most recent quarterly report, we saw “broad-scale adoption of data quality and visualization endeavors and emergent efforts in higher level analytics and AI.”
Let’s take a closer look at what data centralization can do for your business.
Read More: What is Business Intelligence Automation?
Benefits of Data Centralization
Increased Visibility and Transparency
Centralized data provides a single source of truth so leadership can make faster, more accurate business decisions.
Early Detection of Issues
Centralized data allows businesses to identify problems sooner before they become bigger issues.
More Consistency
Different departments often have the same definitions and metrics for things like active users and sales. By centralizing data, you can eliminate confusion at the leadership level.
Holistic View of Customer Journey
Centralized data from marketing, sales and customer service systems provide a complete picture of the customer experience.
Advanced Capabilities
It is easier to analyze data and find insights when all of the relevant data is in one place. Businesses can more easily see correlations across different data sets.
Increased Efficiency
Employees don’t have to spend time aggregating data from different systems. Everything is available in a single source.
Improved Trust
There is confidence that the data and reports are accurate and consistent since there is only one version of the truth.
When you’re ready to transform your business with a more centralized approach to data, the BluWave Vetted network of service providers is on standby to help.
We only work with the most trusted, highly vetted business intelligence and analytics experts in the business world.
Connect with our research and operations team to set up a scoping call and connect with an industry-specific resource.
