The Importance of Data Processing for Tech Companies

Most businesses, especially companies that rely upon technology, are familiar with the importance of data processing. Even phone-based apps need data processing to stay connected with their users, increasing engagement, and potentially sales. The question is how exactly does this type or processing fit in today’s world?

There is no denying that times are changing. We live in a world that has life-saving medical technology, robots, and infinite possibilities. Almost everything is done online or through some form of technology. As technology continues to grow, so do the types of data we manage. With this shift in information, it’s no surprise that methods of data processing is continuing to grow and develop. In fact, unstructured data is becoming more and more common with approximately 80% of all data processed by companies on a daily basis. This comes in many forms, such as social media posts, imaging, and other transactions. With this being the prominent source of data, it is important that companies have the tools and skilled teams to process and analyze the information both internally and externally.

The Necessity for Faster Technology

There are several types of data processing that companies can use. Some of which include manual, automatic, batch, and real-time. Choosing the correct process is dependent upon the requirements of the company, but one thing most companies seem to agree upon is the need for time-sensitive collection and updates.

A study conducted by Dimensional Research reports that approximately 99 percent of businesses state that they need to process data faster, pointing out that the time it takes to get the data input and act upon it is affecting their companies. A solution for this is real-time processing of data, including the changes it frequently experiences. This is vital in today’s ever changing and competitive environment. By using real-time data warehousing, companies will reduce unnecessary costs and increase efficiency and customer service. In turn, this will benefit the company’s profitability. This is of particular interest to companies managing intelligence reporting, monitoring, security and fraud, and customer interaction. However, all departments can find solutions to data processing with faster technology.

Importance of Change Data Capture

There are six important steps in processing information: collection, preparation, input, processing, output interpretation, and lastly storage. It is seemingly a long process, but it doesn’t have to be. This is good news considering all the emphasis on the need for faster technology when it comes to data processing, one has to wonder what are the best options. Obviously, while certain options depend on the type of company, one option is universal when it comes to real-time reporting, such as Oracle CDC, which collects changes in your source data as it occurs. Put simply, Change Data Capture of CDC is exactly the feature businesses have been seeking in attempts to insert, update, and delete transactions as they happen without impacting any source systems.

Breaking Down Analytics

Successful sales, customer relations, inventory, and even employee management requires proper analytics of changing information. Being able to detect trends and shifts of focus is how businesses adapt rather than collapse. With streaming data integration, businesses can ensure that their data is always up-to-date, which is beneficial for analytics, inventory, and marketing. ETL, a key to marketing analytics, can be a time-consuming process. Thankfully, CDC also reduces resources needed for ETL (extract, transform, and load) because it only processes changes made to the data. This is perfect for collecting data to plan a company’s next big ad campaign. Not only that, if any changes in data trends occur during the development, companies will have the upper hand with real-time data processing.

While there are other ways to process data, specifically structured data, most are outdated and timely. A lack of modern methods can potentially hurt companies and prevent growth.

When it comes to data, synchronicity is vital. Depending on the size of your company, the amount of data you can be processing could vary from terabytes to zettabytes. Without proper updates to these data warehouses, companies may miss out on trending opportunities, providing profitable customer experience, and avoiding unnecessary errors and expenses.