Data standardization is the process of converting data to a common format. This allows users to process and analyze the data which is convenient for large organizations since such organizations utilize data from a number of sources like suppliers, databases, and cloud storage. Receiving data from multiple sources can be problematic when this data is not formatted in the same way. For example, some suppliers deliver their data in an unstructured way, but this data needs to be processed before it can be used. This requires manual processing for which no resources may be available since it’s an extremely time-consuming process. Moreover, if your organization exists of multiple operating companies, this process needs to be repeated for every operating company.
Isn’t it possible to make this process more efficient? And in case of multiple operating companies, it would be way more convenient to have the data handled centrally, right? This article will zoom in on the importance of standardized and centralized data. Additionally, solutions are proposed for data standardizing problems that many organizations cope with.
Standardized and centralized data
The influence of technology on our lives has increased significantly over the last few years. This applies to both people and businesses: businesses that stay behind, have the disadvantage when competitors are already adapting new technologies. Obviously, new technologies come along with challenges for which finding solutions is not always that easy.
Some organizations aim to stay up to date when it comes to new technologies. They want to adapt instantly so they don’t run behind on their competition. Organizations with such aims, should make sure that their data model has no problems whatsoever. The reason for this is that nowadays, data is an important aspect of business technology. With accurate (product) data, organizations are able to optimize processes that otherwise were to be executed manually. With the help of artificial intelligence, product descriptions can be generated, product classifications can be created, and product relations can be established, all based on existing product data. In order to be able to do this, however, you need your data to be structured and of high quality. For some companies, however, this is a major problem.
Particularly multinational retailers or wholesalers that sell their products in different countries, experience a challenge when it comes to standardizing data. In some countries, the data quality is fine, well-structured and there is a sufficient amount of data available. But in other countries, the data is extremely unstructured and of insufficient quality and quantity. For those organizations it could be useful to have one centralized and standardized data model to receive more consistency and a better data quality as a result.
So, how to achieve this?
In order to achieve such a standardized and centralized data model, all the available product data across the company needs to be converted into one consistent data model. Manually converting could be an extremely time-consuming process, especially for organizations that offer a lot of products. For multinational organizations, the challenge becomes even bigger because some products are only sold in particular countries. So, manual conversion would probably not be the most cost- and time-efficient way. But luckily there is a better solution.
Automating the process of data conversion
For larger businesses that have a wide product range, it could be profitable to automate the process of data conversion. There are some tools that can help you doing this and that require absolutely no technical knowledge. PowerConvert.ai is such a tool. It uses AI models per language and calculates the mathematical distance between words. Other mathematical tactics are also used to find similarities in values and namings. In this way, the smart tool understands that the feature “Power” should be matched with the feature “Voltage” and the feature “PVC” should be mapped to “Plastic”. By using smart algorithms, the user-friendly online conversion platform enables the conversion of product data from one standard to another. Just upload your own data structure and the desired data structure into the software, and you can just sit back and let the algorithms do the hard work for you. By this, you will save lots of valuable time and money that now can be spent on other business activities.