Data is an inseparable part of our everyday lives. Whether you are a business owner planning a marketing campaign or making an important business decision, or an individual trying to find the best route to work, data is there to support our decision-making process. The only problem is that we don’t always notice how much data is invaluable to our lives.
Those who do, however, are finding new ways to increase the value of data, particularly that which they collect and gather. Data collection has gotten very advanced. Data processing is even further forward with technologies like artificial intelligence and big data analysis enabling new approaches to how information is processed and utilized.
Data synergy is the next big thing. With so many data sets and sources – and the advanced processing techniques currently available – enriching data by utilizing multiple data nodes is now a possibility. What is data synergy exactly? How can it benefit your business? Let’s find out, shall we?
What Is Data Synergy?
Data synergy, in simple terms, is the process of combining and enriching a data pool or data lake by using nodes and points from multiple sources. Rather than relying on a single source of data, businesses can now tap into multiple sources and collect more information in a short period of time. The additional data added to the pool can be used for various purposes too.
What data synergy does is combine nodes in data sets to create a truly rich collection of insights for business decision making. With data synergy or enrichment, the value of data can be elevated to a whole new level.
A good example is a data pool of users. When one source (i.e. your e-commerce website) is used, you can only collect data based on users’ activities on your site. Adding a second data set to the pool and implementing data synergy allows you to also understand what users are doing on another site, such as whether they read content related to your product and services.
Combined, multiple data sets reveal more about users or other subjects you are trying to understand. The next time you want to run a marketing campaign, you already know more about the audience segment you need to target. You can then tailor your marketing campaign based on interests and other more personal insights.
Unlimited Possibilities
The basic purpose of data synergy is to combine data from multiple sources. As mentioned before, this way you can learn a lot about the subjects you want to track. However, combining multiple data sets isn’t the only thing you can do with data synergy.
Thanks to tools designed specifically for processing raw data from multiple sources, there are more things you can do today, starting with data validation. Rather than trusting just one data source, you can validate data based on inputs from multiple data sets. Data from a user-submitted form, for example, can be cross-referenced with data from web tracking and other sources.
Data cleansing is the next purpose to explore. Using it, you can quickly eliminate invalid data and keep your data pool completely free of noise. This means you have the ability to rely more on your data pool, knowing that it is filled with insights that are not only validated but also closely managed to be free of anomalies.
Data synergy enables you to add dimensions to the generated insights. For instance, you can integrate data from an AI-powered data warehouse, integrate tools such as Google Analytics or Facebook Pixel, and immediately identify usage patterns, shopping habits, market or user trends, and even preferences by processing large chunks of data.
The possibilities are endless indeed. Now that you have the ability to combine multiple data sets and process data on an incredible scale, you can create a multi-layered understanding of your audience segments and specific user groups. The only thing left to do is employ the generated, multi-layered insights for business purposes.
Why Data Synergy?
That brings us to our third and last point: the importance of data synergy. Insights generated from data synergy can be used for further automating business processes, crafting marketing campaigns, and completing other business purposes.
The same insights can be fed to automation tools to trigger actions and automate more business processes with ease. You can send remarketing emails to specific groups when they search for specific information online or when there are trends shaping the market. Better promotional offers can be tailored to users as well.
At the same time, you can make your business processes more efficient. By analyzing trends, you can limit your inventory while making sure that all customer orders are fulfilled. You can check customer satisfaction levels from social media posts and other data points. It is obvious that using data synergy is a must for businesses.
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