Data Aggregation Tool in India: All you need to know

February 23, 2022 Admin
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Data Aggregation Tool is a compilation composed from varied sources, arranged in a systematic structure to give an insightful outlook to the summary. Let's discuss more about it in detail.

Creating, restructuring and arranging the data in a reusable format is what the data aggregation tool eattains for the vast data, which might become a tedious task to accomplish if done manually. Here’s when the role of data aggregation tool arises. Some of the best data aggregation software tools are available in India.

 

What is a Data Aggregation Tool?

Data aggregation is a summarized and structured data collected from various sources. It is based on different measurements such as counting, sum, and average, etc. Some of the data aggregation examples are:

  • Average age of the customer
  • Count of customers by count

Data aggregators have the ability to track the timeline of the data and can analyze the underlying aggregated data. The aggregate data need not be numeric particularly.

 

How does a Data Aggregation tool work?

Data aggregation tool enables the collection of data from a variety of sources, then the processing of the data transforms it into meaningful insights for the company to implement further. The last and final step is the presentation of the data in a summarised format. Here’s the process:

 

  • Collection: Firstly, data aggregation tools follow the extraction process data from varied sources then store them in huge databases. The data sources are mainly from the virtual world such as social media data, browsing history, and other details from the internet.
  • Processing: Once the data is processed. The aggregated Atomic data is identified by the data aggregators. Further, to find out the latest insights from the tomic data, aggregators implement different algorithms to serve the purpose. 
  • Presentation:After the process is complete, the aggregated data is then presented in a summarised format which is the refined insightful data as the end result of the process.  This high quality statistical data is highly comprehensive and finest data available for the disposal of the company or entity. 

Benefits of Data Aggregation Tool

To extract, process and present the atomic data is in itself a complex process which is completed by the Data Aggregation Tool with such finesse. As it is completely digital and demands least involvement of any manual interference. 

This is where a data aggregation tool is a productive process to implement. As the data aggregation tool collects data from multiple sources and categorically summarizes the data in a defined structure. Companies that are inclined to gauge market dynamics depend on data aggregation software tools. This tool can accomplish the following activities:

Data extraction- The first step is to systematically isolate the relevant data from the collected data based on the requirement of the specific business. 

Modification- Once the extraction is completed, the data needs to be modified in a way that it synchronizes with the defined format for data aggregation.

Data visualization and analysis– The final presentation of analyzed data is created with the help of actionable KPIs to determine the future activities for the business. 

Once the final outcome of analyzed data is received, it is filtered further to navigate through the decision-making process. With the help of data aggregation tools it becomes easy to evaluate the business needs and work on the metrics accordingly.

 

Use and Implementation of Data Aggregation Tool

  • Data aggregation tools are supportive in different segments such as business and finance strategies, product pricing, product/ service planning, optimization of operations, and determining the marketing strategies.
  • Also beneficial in multiple purposes for the travel industry as well, which includes competitor research, price monitoring, understanding market intelligence, etc. 
  • Data aggregation tool performs specialized tasks, which are conducted by data scientists, data analysts, warehouse administrators, and subject-experts.
  • Aggregated data through the data aggregation tool ultimately becomes a guide for formulating the business strategy and decisions. 
  • Information about specific groups, based on behavioural or demographic variables, namely profession, age, education, or income are also obtained from the data aggregation tool. 
  • Alongwith that critical insights about the consumer behaviour is also collected with the help of aggregating data as various sources like social media data, browsing history are collected.

 

Conclusion:

Nowadays, business decisions are largely based on the data, and building the right decisions in order to take it ahead in the right stride. The emergence of huge data aggregation software in India and explosion of data sources offer organizations and data scientists vital information about the business. However, consolidating accurate data is still an issue that makes the data aggregation even more important.

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