researchHQ’s Key Takeaways:
- Data integration involves the gathering of data sets from multiple sources to a single repository while application integration involves the transformation and transportation of data from one application to another.
- Both application integration and data integration are critical in enabling seamless end-to-end integration across business functions.
- Benefits of application integration include a boost in ROI and fast-tracked business operations, greater data visibility, interoperability, and the facilitation of automated data transfers.
Statistics from MarketsandMarkets Research show that CAGR on the data integration market will sustain a 13.7 percent growth rate from 2017 to 2022, reaching a whopping USD 12.24 billion by 2022.
In a data revolution era, people have started realizing how significant data is for their company. By the end of 2020, nearly 1.7 megabytes of data will be created every second for each person. The pandemic crisis will wreak havoc and generate a humongous amount of data. As a result, data will become a critical asset for every organization. Thus, data-driven strategies project to be a competitive imperative to survive in the industry. To support business objectives like CRM, ERP systems, finance, and e-commerce platforms, enterprises need to maintain their data. However, most often it is seen that the data overlaps with other systems.
The present day business enterprises operate in a dynamic environment. Few years ago, businesses relied solely on the enterprise system and on-premise software. These applications could help accomplish certain tasks. As business processes and the needs evolve, so will the software applications the company relies on to conduct critical tasks evolve.
This is where application integration and data integration becomes critical for enabling a seamless end-to-end integration across business functions.
Application Integration and Data Integration: The Game Changer for an Intelligent Enterprise
Intelligent automation or robotic process automation (RPA) is transforming the way business functions in every sector – from detecting and producing swaths of data to automating the entire workflow.
In the present scenario, organizations have already started applying application integration, data integration, and the robotic paradigm to automate their workflows and processes.
Application integration has the power to bridge the gaps that exist between on-premise and rapidly-evolving cloud-based enterprise applications. Using application integration, companies can completely cut overhead costs, most specifically in information technology (IT) while increasing productivity, efficiency, and scalability.
Though cloud-based applications offer an easy way for companies to execute tasks, these applications do not always offer the best solutions to a business problem. In such situations, companies are forced to embrace application integration as a solution to integrate data between the existing apps and new apps.
Some of the benefits of application integration include:
- Boost the time-to-market – most often businesses fall back in generating higher ROI due to delayed technology deployment. However, by integrating multiple applications companies can now boost their ROI and fast-track their business operations.
- Facilitates data visibility – application integration offers point-to-point integration along with augmented data visibility empowering businesses to observe, analyze, and embrace data throughout the workflow.