Businesses today contend with a huge amount and variety of information. For retailers, data can come from in-store transactions, social media, store sensors, customer surveys, e-commerce activity, and more. Other types of organizations, deal with data as varied as logical access records, email marketing performance, and server response times, and they need to be in tune with all of it. Thankfully, modern analytics software makes it easy to connect and analyze all of this data no matter the source or format.

In today’s world it’s impractical to rely on a single source of data in the enterprise, but what are the major advantages of connecting to multiple data sources?

Getting a 360-degree View of the Business

Bringing in multiple datasets allows users to have a full view of the business and conduct analysis across multiple variables, time frames, locations, categories, and more. Access to historical data gives analysts the ability to contextualize performance and predict where the business might be headed.

Having a 360-degree view of the business means that decision-makers can get to the core of the challenges they’re facing faster and then prioritize business initiatives to continue driving growth.

Uncovering Hidden Relationships in Your Data

By combining information from finance, marketing, sales, and other departmental systems in a single, overarching data environment, organizations empower people to conduct wide-ranging analyses and discover unexpected correlations and relationships in their data.

Fostering Collaboration Across the Enterprise

Bringing in data from other departments in an organization (or from external partners) may increase the complexity of a data environment, but it’s worth it. Creating a multi-source data environment supports greater collaboration across departments and teams—leading to more impactful decision-making and better strategic organizational planning.