Data is a precious thing and will last longer than the systems themselves.Tim Berners-Lee
To stay competitive, nowadays, companies more than ever need to optimize their processes. To achieve this goal, a reliable tool in their disposal is their data, which can help them not only to increase their efficiency but also to eliminate costs. However, going through vast streams of consumer statistics and customer data is a colossal task. For companies, regardless of their size, it is vital to invest in more efficient processes such as data extraction, which helps them to determine the current market trends and what customers want.
Data extraction can be defined as the act of retrieving data out of (in most cases not well structured) data sources for further data processing or data storage. Often, companies extract data to analyze it further or migrate it to data warehouses or other data repository. In order to save time and resources, more and more companies try to automate the process of data extraction.
Though there are various tools for data extraction, companies are only beginning to realize the importance of the process and its potential. Data extraction is much more than just gathering your corporate data in one place. It can help organisations transform their entire business by letting them focus their resources where matters most. Tools such as Qlik can extract data from disparate data sources and associate them to present a single version of the truth by designing meaningful and functional data models.
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