Predictive analytics turns data into actionable insights, but only when it is integrated in the decision-making process. As the business world gets more in tune with predictive analytics, data harmonization is becoming critical to success. What is data harmonization, and why is it so important?
Using Data Harmonization to Understand Your Business Truth
Imagine trying to leverage the vast volumes of data at the disposal of any fair-sized company. You don’t have the luxury of time; you need to make decisions quickly. But how can you tell if the data is accurate? What data source among many should you believe?
Many of our clients have approached us with the same concerns. To handle these issues, we point to data harmonization.
Simply put, data harmonization is all about creating a “single source of truth.” It does this by taking data from disparate sources, clearing away any misleading or inaccurate items, and presenting it as a whole. This means you get a single window view of everything and anything that supports ongoing decision-making, including financial information and business performance.
Data is coming at you from many different angles. But once it’s harmonized, it’s been cleaned, sorted, and aggregated to provide a complete picture. And everyone sees the same data. So it’s easier to get people on board and easier to steer your business in the right direction.