What is an Integrated Database?
An integrated database links all your information into a single, searchable structure that enables detailed analysis of your business. Often referred to as a “single source of truth,” the integrated database uses a single identifier across all data sources to link the data you have on each customer. It also serves as the primary source for distributing information across all systems. The information that can be gleaned from integrating your data can answer some of your most pressing business questions and have a profound impact on your go-to-market strategy and resource allocation.
Surveys have indicated that in many companies, over 90% of the information collected can be classified as “dark data.” Dark data is information collected for a business process but not utilized in analytics or improving business processes. An integrated database is one of the best ways to bring your data out of the dark where it can be used to further your business. Studies have indicated up to a 5% productivity improvement and 6% profit growth for companies who effectively use big data.
Challenges to Creating an Integrated Database
The first challenge to creating an integrated database is identifying all your available information. Important analytical information is lurking in internal systems including trade, CRM systems, incentive payments, loyalty program data, distributor shipments, customer service call logs, and many other places. Once linked, this information provides a powerful resource.
The best starting place is an assessment of the systems and information you already possess. Once you understand the location and structure of your data, the next step is to create the integrated database to tie it all together. All the data needs to be mapped so that a customer can be identified across all the data sources. This process is part science and part art. For example, a college campus with three locations can be considered one customer, three customers, or one master customer with three sub-locations depending upon how the manufacturer goes-to-market.
The next step, and most important component of your integrated database, is creating visualizations in clear human readable form to clearly show gaps and trends. If you take that even a step further you can then create automated sales and marketing actions triggered by the data as it changes.
What You Can Learn from Your Database
So, we have established that creating a robust database is a significant undertaking. What are the benefits? Here are just a few of the things you can identify from data already in your systems:
- Customers with significantly declining sales (both distributor and operator)
- Lost customers
- Slots at risk of being discontinued in the next 90 days
- GPO non-compliance on hard-spec items
- Ideal customer profile
- Average customer value by segment
- Average customer quarterly purchase volume by SKU and segment
- Number of operator sales calls needed in the first 60–90 days to secure a slot
- Appropriate equipment and merchandising program targets
- Equipment and merchandising throughput and months needed to breakeven
- Best targets for a new product launch
This list is just the tip of the iceberg. Many of your current business questions can be answered with information hiding in plain sight. Turn your dark data into illuminating insights with an integrated database and point your organization in the direction of productivity and profitability increases. Interested in unlocking your data but don't know where to start? Call us at 877-424-8725 or fill out our contact us form with any questions and to learn more.