Why is Data Processing Important?

Why is data processing important?

Oct 19, 2019

Data processing is the process of collecting and manipulating data to produce meaningful information. At a high level, it is done by organizing, modifying, storing, and finally presenting it in the form of requisite information. Once processed, the data is available in the form of tables, diagrams, and reports for interpretation and data analysis.

Getting slightly more technical, this means taking raw data and bringing it on to the landing zone, where data is cleansed by standardizing the data and placing the cleansed data in the staging area where it’s ready to be consumed by a data scientist. At Rawcubes, we perform added bonuses such as active copy using our products, DataBlaze and CloudBlaze, to reduce cost and defect opportunities. We will go into more detail in our upcoming blog, “The Stages of Data Processing.” In the meantime, feel free to reach out to us for more information.

As individuals, we are processing data every second in order to make better decisions. It’s no different for businesses. They process data to enhance their service offerings, derive conclusions, market themselves, and stand out amongst their competitors. Data processing enables businesses to effectively counter challenges and competition by permitting them to concentrate on productive activities which yield higher returns rather than activities that would waste time, money, and resources. After the data is processed, it also needs to be stored properly for future use.

We’ll look at three industries to better understand why proper data processing is vital to an organization.

Financial Services Sector

Data processing is key in every sector for various reasons, especially in the financial sector. Banks, insurance and investment firms benefit from proper data processing through improved efficiency with respect to energy, money, and time. Even though these metrics might seem simple, they can enable a business to make a lasting impact in its market segment. As an example, insurance companies need to understand exactly how much risk to take on before a prospect can be insured. The faster insurance companies can figure out the risk profile of the prospect, the faster the prospect can be insured and, in turn, become a customer. In this case, proper data processing in a timely manner is vital to attracting customers.

Healthcare Sector

Proper data processing in healthcare helps in facilitating effective communication among doctors and patients. It also helps in providing quality patient care and offers several sources for retrieving data leading to a greater level of insights, trends, and other pertinent issues that can be utilized for making an efficient and personalized treatment method. Proper data processing will allow the staff in making better decisions and, ultimately, leading to enhanced quality in service.

Oil and Gas Sector

Data analytics has yet to make a significant impact in the oil and gas industry in general, relative to other industries. However, that is not to say data processing cannot be useful. Given the amount of data oil and gas companies are faced with, data processing can reduce drilling time, optimize the performance of production pumps, improve drilling safety, and much more. At Rawcubes, we are thrilled to have worked with clients in the oil and gas sector and help uncover opportunities using our products that otherwise would not have been there.

Reach out to Rawcubes today to see how we can assist you in processing and managing your data much more effectively.

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