5 Benefits of Data Aggregation

Data is a significant asset for businesses today, but merely having data won’t be helpful. What’s needed is effective data aggregation to organize, segment, and understand data sets properly. 

Data aggregation and analysis can be challenging with the number of data sources available. With multiple sales and marketing channels, there is a vast amount of data that every organization has to analyze. Data aggregation can significantly help organizations put together data in easily understandable terms. 

What is data aggregation?

Data aggregation is searching for and presenting data in summarized formats to help organizations achieve their business objectives. It helps businesses make informed decisions on things like buyer journeys, consumer behaviors, customer pain points, human resources, and sales and marketing trends. 

You can perform data aggregation manually or by using specialized software. No matter how you do it, the objective is to unearth insights to design effective and personalized sales funnels for greater conversion and retention. 

Why Aggregating Data Matters to Your Business

By aggregating data, you gain actionable insights into your organization's growth, financial health, customer acquisition and retention, market opportunities, and employee satisfaction.  It can also help with sales acceleration. 

Organizations can quickly access relevant data and make better decisions to improve their products, sales channels, marketing, and communication. Aggregating data also helps organizations comply with financial services regulations regarding data sourcing and usage. 

5 Benefits of Data Aggregation

Data aggregation isn’t the exclusive domain of large enterprises. Businesses of all sizes can benefit from data aggregation to be more agile and innovative. Here are five important benefits of data aggregation: 

1. Removes information silos

Data silos can give you an incomplete and misleading view of your customers, business, and the impact of your decisions. You may even have duplicate data or multiple solutions competing against each other. These lead to time-wasting and increase operational inefficiency. 

Data aggregation centralizes storage and ensures that all stakeholders will have access to the same data sets that are crucial to any project. By using the same data and presentation formats, organizations can ensure that different domains seamlessly work with each other.

2. Faster time to insights

One of the biggest advantages of data aggregation is that it removes redundancies from the system. Various departments may have different data sources, data storage systems, and ultimately different analytics/insights that are meaningful. Getting to these disparate data groups can slow down teams from gaining meaningful insights. 

When data from across the enterprise gets aggregated, you can analyze it manually or with software to generate insights faster.  And with ModuleQ, you can get insights delivered to you at key moments in your day directly in Microsoft Teams. There’s no need to collate and then filter data. You can turn Teams into an Insights Hub and utilize your data better.  

3. Enables data-driven decision-making

Across sectors, data is becoming the differentiator. Organizations that rely on data to validate their tactics, change strategies, gain feedback, and discover opportunities will be more agile and have a considerable competitive advantage over others who rely on their intuition or opinions to make decisions. 

Aggregating data helps remove bias from decision-making. There will be little need to question decisions when credible and relevant data sets back them. When every decision can be analyzed based on data, the process will be rational and importantly, replicable. 

4. Understanding employee and customer needs

Analyzing data in isolation or relying on irrelevant data sets can lead to an ineffective understanding of the target audience. Whether it’s your customers or employees, you need data aggregation to view the big picture with granular and relevant insights.

Aggregating data gives you a holistic and nuanced perspective. For example, instead of merely saying that there’s a drop in retention due to a price increase, you would know what kinds of customer groups were the first to opt out.

5. Know where and how you are being successful

Usually, organizations take time to learn from their successful strategies and campaigns. Weeks or months after their rollout, the concerned teams will create case studies that would be circulated within the system. 

Data aggregation can reveal not only areas for improvement but also where you are being most successful. When you know where and how you are gaining traction, you can easily duplicate those tactics elsewhere. Other teams can learn from them, which will reduce wastage and lead to an optimal allocation of resources. 

How to Make Data Aggregation a Priority 

Data acquisition is the first step to a successful insight supply chain with data aggregation and insight generation being the next big hurdle. Once you have your data together you can generate insights that will help spot redundancies, reveal opportunities, and ensure organizations use their resources wisely.  Most organizations have made solid progress on data acquisition, but are struggling to bring data together, generate valuable insights, and get those insights to the right people at the right time. 

ModuleQ surfaces data and insights directly from your internal data systems and delivers them to you right when you need them, like before an important meeting. This is the last big step in the insight supply chain and the reason that data aggregation is so important. Bring your organization's insights together and get those insights into the hands of the employees who need them, when they need them.