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For any growing business, especially in this digital era, timely documentation and management of an ever-increasing array of data can be quite challenging. So, what’s the 1st step in addressing the situation? - Data conversion.
It is an effective way for organizations to systemize their data and convert them to a format, which can be used across various platforms. The process involves conversion of data from one medium to another to meet unique requirements of different organizations.
Without this essential process, organizations would have a bunch of useless data sitting there, and makes them miss out on the chance to gain valuable business insights on customer behavior, operations, trends etc. that can give them significant advantage over their competitors.
What is Data conversion?
Data conversion is the process of converting/translating data from one format to another. Conversions may be data from paper to an electronic format or from one electronic format to another. Some of the most common data conversion processes businesses use today include PDF conversions, e-book, and document conversion.
The purpose of Data conversion is to enable interoperability and to maintain all of the data with embedding as much as information as possible. And the goal is to prevent data loss or corruption by maintaining the integrity of the data and embedded structures. It is a critical step in the process of data integration which enables the data to be read, altered, and executed in an application or database other than that in which it was created.
It can be simple or a complex task, based on the environment and data formats involved. Data conversion can be done easily if the destination format supports the same features and data structures as the source data. If the source formatting is not supported, businesses must correctly and comprehensively convert the format and structure to read, modify, and analyze data.
Data conversion process consists of 3 stages:
1. Converting the data into a suitable format for its database
2. Transferring the converted data format correctly and making it work well in its new destination
3. And finally, having consistency and retaining its quality
But if not done properly, there could be loss of information. So, for successful Data conversion process, there needs to be a strategy.
3 Main strategies for an effective Data conversion
1. Defining the boundaries and goals
Data conversion, like any other process, requires defining boundaries and goals, to make sure everything is done well. Which data needs to be converted? Will it be a partial or full conversion? Which data needs to be moved and which shouldn’t? What formats are required for the conversion? Which is the desired final format, and which is the original? Etc.
2. Defining the data standards
With proper data standards, all your databases will have quality and consistency. In a way, this is a guideline that employees can turn to when they are unsure of how they should handle the conversion process.
3. Performing data cleansing and profiling
Tracking and measuring the level of data quality is very important. That way, you will always know what effect it has on your business. When you discover data that has a negative impact, you should rectify/cleanse it and make the necessary adjustments. To put it in a nutshell - ensuring uncompromised quality with zero errors.
5 Benefits of Data conversion in business
Data conversion has gained immense popularity and many businesses explore the benefits offered by it.
1. Having a unified data format
Different businesses use different types of data, which include text and various media like images, videos, etc. These different types of data can create issues when they have to be used. Data conversion can be used to unify data and establish a format that can be used by all the teams and individuals within an organization.
2. Efficient organization and utilization of data
When having a large repository containing text, images, and documents, it can be very challenging to find a certain piece of information. Data conversion allows you to have an organized database with quality and formatting standards making it easy for everyone in an organization to understand any piece of data.
The process also enables businesses to make efficient utilization of the available data. Once the data format gets synced with the system being used, all the critical information can be quickly and easily accessed, customized, reviewed, and interpreted. Complex information can be simplified into understandable data formats, facilitating intelligent use of the available data.
3. Reliable information easily available
In this internet-driven day and age, conversion of data helps business leaders access all the relevant resources to information at the finger tips. They can gather, process, and compile reliable data which will help make critical decisions.
4. Saves time and improves operational efficiency
Having converted data at your disposal with proper quality and consistency saves a lot of time. And since these segregated data is easy to access, staff can quickly access these data when required thereby reducing business downtime, and improving operational efficiency of the business.
5. Saves costs and increases revenue
As discussed above, data conversions will lead to fewer errors and saves a lot of time. Employees won’t make costly decisions, and they will need less time to perform tasks. They can utilize their work time effectively and efficiently thereby bringing more revenue for the organization.
In addition, data conversion also helps in organizing archives and managing expenses associated with the maintenance of unnecessary software, hardware and other programs used in the organization. Elimination of redundant programs and information can reduce operational and maintenance costs.
Conclusion
Converting data into formats that help you understand, analyze, and present information is required in all fields of work. Data conversion has become a norm in modern business. With more and more data being collected now, data conversion has become an inevitable function that businesses must perform to be efficient in what they do and deliver. Organizations will be able to save money, effort, and time.
However, data conversion requires a trained workforce and a developed infrastructure that can handle these processes.
For more info on how UPDATE Technologies can help you with Data conversions, contact us.
Or get a quote from us.
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