Data is everywhere. It’s growing, flooding businesses with a relentless stream of raw information. But this chaos also hides valuable insights. How do you uncover them? Mastering the data preparation process is key.
In this article, we’ll shed light on how to turn unprocessed data into actionable knowledge.
What Is Data Preparation?
Data preparation stands for collecting information from various sources and then transforming it into a structured and usable format.
It’s a fundamental step in the further analysis pipeline. Without it, you’ll never get consistent data. You also risk making ill-informed decisions, which may hamper business performance in the long run.
Where Do We Use Prepared Data?
You can leverage prepared data in any industry and for any business function. For example:
- Human resources. HR departments can easier analyze employee personal information like performance analytics, engagement, and retention rates. Then, they can decide on recruitment, training, and employee development.
- Supply chain. Prepared data helps optimize inventory levels, transportation routes, and supplier relationships. This way, businesses can identify inefficiencies, minimize costs, and streamline their operations.
- Marketing and sales. By preparing insights from customer interactions or purchase histories, companies can develop targeted sales strategies.
Benefits of Data Preparation
Proper preparation of data is paramount for any business. Especially the one striving to:
- Eliminate inconsistencies and errors.
- Streamline the analysis process, saving time and resources.
- Uncover hidden patterns and trends in their data.
- Tailor their data to specific needs and requirements.
- Stay ahead of the competition curve.
How to Prepare Data for Analysis?
Do you want to create a structured and accurate data set? Then, you can’t prepare data haphazardly. Here are the things to consider:
- Determine the objectives.
- Identify the relevant information sources and variables needed to achieve those goals.
- Choose a data preparation tool.
- Encourage collaboration between departments and business stakeholders.
Getting ready for data processing is as important as actually converting it. That’s how you know what your desired outcomes are and how to achieve them.
Steps in Data Preparation
Now, as you are all prepared for data gathering and processing, here’s how we recommend breaking down this process.
- Collect data from databases, spreadsheets, web pages, and other sources.
- Clean data by correcting errors and eliminating inconsistencies.
- Transform data into a standardized format for easier comparison and analysis.
- Integrate data from different sources into a single, cohesive set.
- Validate the quality and accuracy of the prepared information.
By the way, you will probably encounter two concepts: data validation and verification. What’s the difference between data validation and data verification? We have an article dedicated to this topic.
Common Mistakes While Preparing Data
You expect information preparation to be smooth. But it doesn’t always happen that way. Sometimes you may encounter pitfalls that might affect the entire flow.
For example, you neglect big data cleaning. As your information sets have duplicates, missing values, and inaccuracies, this can’t end up as something good.
Or you might fail to consider privacy. As a result, you increase the risk of compliance issues and breaches.
Skipped validation? Let’s hope that the quality of information is at the highest level. Otherwise, faulty analysis and misguided decision-making should be on their way.
Be mindful of these mistakes. Avoiding them is the only way to get accurate information that will fuel your business efficiency and growth.
Delegate This Task to Specialists
Data preparation is a delicate process. As we’ve seen, mistakes can be devastating. Hiring a team of specialists can significantly decrease these risks. That’s because they hold the expertise and experience to handle information properly.
Furthermore, experts will optimize the info preparation procedure. They will also tailor it to your unique needs. So you know that you have the most relevant and valuable information at hand.
That’s what you’ll get when you hire Nannostomus. Our experienced team is well-versed in data collection and analysis. We’ll clean, transform, and evaluate your data methodically, so you know that your analysis is as accurate as possible. Let’s work together to discover the full potential of your data. Contact us today.
