4 Ways Seamless Data Integration Can Save Your Business Time and Money
In today’s world, data is king. You might’ve heard Elon Musk talk about how no auto manufacture will catch up to them, despite whatever innovative features and luxury components are added in, due to Tesla’s real world driving data. While other cars simply drive, Tesla’s collect data on their road conditions, and share it back to a neural net. This opens up almost infinite pathways for maintaining an innovative edge over their competitors, in both software and hardware alike.
Unfortunately, most businesses aren’t operating in this way. The typical business, SMB or enterprise, is running like your old fashioned cars; meandering through the comfortable roads it knows, without any assessment and improvement on how it adapts to those roads. You don’t need to look far to realize the risk associated with this strategy. Adding on to the Tesla example, Walmart was able to thrive due to Sam Walton’s attention to detail in inventory and logistics. He was the first retail store owner to perfect the projection of inventory needs and consumer purchases. This, along with other factors, allowed Walmart to scale into one of the largest businesses in history.
Now I know what you’re thinking…”yeah yeah, I get Tesla and Walmart, but they had first mover advantages and more things to account for”. Fair, but no one can argue that these two companies, along with many other industry leaders, made it to the top through a hyper-focused analytical approach. In today’s world of metadata, disparate softwares, minimal integrations, and siloed data pools, it’s more important than ever to make sure you’re seamlessly streamlining your data operations.
Here are five quick reasons to consider why you and your organization should be implementing a better way to view and activate your data, and the easiest way to get there.
1: Marketing Spend:
All of us have experienced the inefficiencies of marketing spend. The most common example is you buy a product online, that company’s data operations lag behind, and then you get bombarded with ads for a product already sitting in your home or on your person. Better data consolidation across your business softwares allows for more effective lifecycle tracking, which then rolls forward into more efficient ad spend and retargeting.
2: Headcount:
This is the highest expense for almost every business. Instead of rolling in a team of 100 data scientists and engineers, and all the six-figure salaries that accompany that, Kodda allows you to extract the same insights from your data sets, and connects your siloed warehouses seamlessly. Did I mention that it doesn’t take vacation or sick leave?
3: Human Capital Allocation:
Headcount costs aside, how you allocate your individual contributors is a major factor in the goals you set and whether or not you reach them. When you have a software like Kodda administering your data unification, analysis, and insight production, you free up your technical colleagues to focus on more revenue-focused, forward thinking practices.
4: Strategic Decision Making:
The philosopher and neurobiologist Sam Harris once referred to the development in AI technology as the race to own the world. He or she whose first to get to that AGI barrier will be lightyears ahead of their competitors (be they nations, corporations, or individuals) because they’ll be that much quicker to the best decisions. Similarly, hedge funds spend hundreds of millions of dollars laying out better internet connectivity and infrastructure just to be split seconds ahead of the trades of their competitors. Simply put…when you have faster, higher-quality insights, you’re able to make better decisions for your business, and leapfrog competitors.
These reasons are just a few for why businesses with Kodda thrive. Click here to see what we can do for you and your team!
