Data extraction made easy – savvy methodics

Big Data is more than just a keyword everyone seems to be talking about. Every day, we are confronted with the electronic processing of our data. The GDPR, which have been causing quite the turbulences in the world of data processing in May this year, are an attempt at rendering the amount of data a little more transparent. But let’s have a look at the data world of a company. According to a study by Seagate and IDC, the amount of data is going to be reaching 163 zetabyte until the year 2025 (the number 163 followed by 21 zeros), which means a tenfold increase of the data in 2016. Most of this gigantic data volume is going to be found in companies.

Let’s already take a careful look at the abundance of information we are dealing with today: The multitude of software systems used, storage options, connections to partners, suppliers and authorities – all these generate data that are necessary and required. But how can the right data – that are indispensable for certain requirements – be extracted from this flood of digital information? For example, the electronic transfer of business data to tax authorities is a prerequisite for legally compliant work. As a basis for strategic decisions, the access to valid data is an additional irrefutable necessity.

One of the big challenges in the Big Data environment is to extract the important and meaningful data for the case of application from the wealth of data. One possibility would be the use of artificial intelligence with the aim of increasing efficiency and effectiveness through automation. In a study published in June 2018 by the German Federal Financial Supervisory Authority (BaFin), the technological development and the effects of digitization were examined in detail. One of the results was that the inner-company responsibility for processing large amounts of data lies with the respective company management. This in turn raises the question of how a targeted evaluation of large amounts of data can be realized while ensuring a transparent daily routine at the same time.

The solution lies in intelligent applications that have been developed by experts and should meet several requirements. The basis for this is a deep understanding of the requirements, processes and systems that are decisive for the application areas. Only with this know-how, the technical possibilities, which are characterized by innovative developments, can be used meaningfully and, especially, result-oriented. A further important component is the flexibility of the solutions. Due to the worldwide networking of companies and the use of different systems, solutions that can do much more than just exchange data are required. The valid consolidation and the subsequent meaningful use of the information represents an essential requirement that can be realized through multidimensional concepts in practical applications.

This concept of high practical orientation is a principle of PROMATIS, the expert for intelligent business processes and future-oriented technological competence. With its two best practice products, PROMATIS Extractor and PROMATIS DataSmart, companies’ requirements regarding a sophisticated processing of data are precisely dealt with. The PROMATIS Extractor provides predefined extraction routines developed particularly for different areas like finance or master data management, and measurably simplifies the business processes. The PROMATIS DataSmart is the high-end version, the turbo Porsche among the extraction tools. The open system architecture allows an unlimited integration of companies with different systems and data storage in sophisticated database tables, where they can be retrieved quickly and securely for special application scenarios. In this application, the central requirement of Big Data, the evaluation and the analysis of information, is mapped in standardized dashboards which can be extended in an individual and goal-oriented way.

With these two extraction and data management tools, PROMATIS once again proves itself as a trendsetter for innovative and practice-oriented applications of supreme standards.

Author: Sebastian Wille
Image: © bestdesigns / istockphoto.de

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