Data Harmonization for Business Decisioning Efficiency

Businesses worldwide utilize data to streamline operations, understand customers, and discover growth opportunities. The quantity of data isn’t the focus. It’s more about effective use.

While data generally benefits businesses, organizing various data streams in an accessible way can be challenging. It can even be potentially harmful, leading to misinterpretation, security risks, operational inefficiencies, compliance issues, and loss of competitive advantage. In today’s data-rich global environment, businesses must process information clearly and efficiently to succeed.

To truly unlock the potential of data, it is imperative to have the right system in place to swiftly collect and analyze information. Without this, brands might experience slowdowns instead of acceleration.

Our client grappled with significant time investments and resultant delays. Employees dedicated up to 10 hours per week to sorting through data, leading to reporting delays of up to two weeks.

Implementing a unified data framework: how to achieve consistency amidst diversity

The first challenge stemmed from the diversity of our client’s products, with each generating different data points. This variation caused teams to grapple with inaccuracies in their analysis due to the lack of uniformity. Additionally, the varying refresh cycles further exacerbated the issue, leading to overall inconsistency in their datasets.

Overcoming data silos for seamless collaboration

Data silos within the organization created significant obstacles to effective communication between different datasets. This fragmentation made establishing a unified view of important data across the organization impossible. Consequently, teams struggled to collaborate efficiently and make informed decisions based on comprehensive insights.

Conquering compatibility challenges in data integration

Compounding the existing challenges, our client encountered formatting issues with the incoming data. Data arrived in incompatible formats from diverse sources and regions, presenting a considerable hurdle to data analysis and integration efforts. Moreover, differing date styles, including US and UK formats, added complexity to the data processing and visualization tasks.

To address this inefficiency, our objective was clear: automate processes and establish consistency. This involved eliminating the need for manual intervention, streamlining data cleaning processes, and removing duplicate entries to maintain data integrity and coherence.

Within two months, we conceptualized, designed, and implemented Concordia, a tailored solution for data harmonization. This process involves consolidating diverse data from multiple sources into a unified dataset. Concordia utilizes AED (AI, Engineering, and Design) to aggregate and actively analyze datasets, providing insights through Machine Learning.

This transformation brought coherence to the client’s previously scattered data reporting. It significantly reduced lead times for data projects. Concordia became the platform of choice for our client, ensuring the optimization of crucial data collection, analysis, and utilization.

Standardizing data sets across Key Performance Indicators (KPIs) allowed the data to be easily reached and managed, meeting the challenge of multiple data inputs.

Concordia offers:

• Machine Learning data mapping and harmonization

• Faster and automated data integration from multiple sources

• Data democratization across the entire enterprise enabled by intuitive UI

• Faster data-to-decision transformation and reduced effort and time into data integration & manipulation

• Intelligent decision-making using AED

• Best-in-class AI-enabled Master Data Management tool

Technology

• Concordia

Function

• Harmonizes data into a single, visualized location.
• Views all data streams in real-time.
• Converts raw data and measures KPIs.

Reason

• Unified data collection and analysis.
• Accelerated processes and delivered AI insights.
• Addressed pre-implementation challenges: faster deployment, automation, accuracy.

50% faster decision-making

Concordia delivered an immediate impact by drastically improving data collection and analysis turnaround time by 50%. Our client could swiftly translate data into crucial business decisions during critical moments. Furthermore, data accuracy notably increased by 30% within six weeks of implementation.

Sustained data excellence

The client now enjoys sustained benefits from Concordia. They can tailor their asset creation, and their data consumption has become faster and more accurate. The implementation of the solution has led to a reduction in manual effort, streamlining and automating the handling of complex data formats and sources. Additionally, it has facilitated increased market expansion and provided a cost-efficient pathway for scaling up the processing and analysis of vital data.