Currently, over half of the large corporations are competing using advanced predictive and prescriptive analytics and propriety algorithm, which has brought about a disruption in many industries.
Research by Digital Banking Report indicated that 50% of global financial services leaders rated enhanced data analytics functionalities as a top-three priority in the industry. Further, it indicated that credit unions were the most likely users of data analytics as a key strategy compared to other financial services institutions.
Worldwide, the credit unions industry is one of the most collaborative industries. Unlike most other organizations, credit unions share almost everything, from secrets to ideas. They genuinely care about the welfare of its members more than anything.
Big data and analytics today provide a stupendous opportunity for credit unions and its members to further approach the concept of data integration in a collaborative way. By adopting the right data integration, technologies that will unlock captured data in the operational and financial system, technological solutions can convert the data into useful insights. Credit unions can use the data to understand critical issues, trends, and opportunities in their industry.
To help credit unions in the management of their data, below are 7 Top Data Integration Technologies we highly recommend in 2018.
Informatica is one of the leading data integration tools that seek to fit the architectural strategy by delivering data as a service. The platform encourages enterprises to take a holistic approach to data management across the organization.
Informatica transforms enterprises data quality processes into more collaborative processes between businesses and IT users.
With its achievement, a true data-driven business environment is created that nurtures better decision making within an organization. Moreover, Informatica helps eliminate point-to-point integrations which could result into cost reduction through better management and control.
- Informatica has an easy-to-use Analytical Tool which mimics the workflow of data within an organization to help automate business processes.
- The tool facilitates collaboration between the users of data within an organization such as the IT department and other members of an enterprise to strengthen stakeholder ties.
- Informatica enables data standardization, validation, enrichment, and consolidation to ensure quality data is delivered to its users.
- The platform provides organizations with an understanding of the nature and the true meaning of their data by identifying how the various data objectives relate.
- Informatica improves data quality by cleansing and qualifying data according to defined business rules by the business strategists and IT architects.
2. Microsoft SSIS
Microsoft SSIS (SQL Server Integration Services) is an enterprise data integration, transformation, and migration application with Microsoft’s SQL Server database.The application is used to analyze, enrich, extract, and transform information processes to update databases.
Microsoft SSIS was introduced in 2005 to replace an older data integration tool called Data Transformation Services (DTS). Microsoft has always kept its applications up to date with the ever-changing consumer data-related needs.
- Microsoft SSIS offers its users an on-premise and a cloud experience enabling organizations to build and display hybrid solutions for data management.
- The platform makes it possible to simplify both big and small data. For instance, you can transform your business processes with modern, paginated reports, and rich visualizations.
- SSIS application protects an organization’s data while in the database or while using it with its highly safeguarded database structure through its layers of protection approach and data encryption.
- The application supports small and large business data warehouses while reducing the storage needs with enhanced data compression capabilities.
Talend is a platform that provides a broad spectrum of functionalities necessary for precise and data integration needs.
is a product of Talend Inc., a software company offering data integration products supporting various data needs such as bulk load, cloud, messaging, and data services.
The application enables big data integration, data profiling, and master data management. The architecture behind Talend is on an extract, load, and transform basis. This helps to leverage the capabilities of both the source of the data and the target destination.
- Talend contains repository-based tools that oversee the design, creation, testing, deployment, and the integration processes operation.
- With Talend, users are able to transform complex databases and workflow processes into much simpler functions using various tools on the platform such as the search functionality.
- Talend provides a stable form of connectivity of various application files and databases.
- The data integration platform offers project-support with team-based collaboration, tool-based generated Documentation, as well as data release management.
- The application is also capable of providing faster and efficient data loading and data transformation.
Denodo data integration tool provides enterprises with a secure virtualized data services platform for achieving independence from data sources, and help support management re-use and profile data and data logic.
Besides, the platform assesses, connects, and combines a wide spectrum of sources of data as compared to traditional tools, notwithstanding whether the data is from an internal or external source.
With the ability to provide real-time information access, the platform connects various data sources in an Enterprise Data Hub and in turn delivers flexible and reusable virtualized data for organizations.
- Denodo helps organizations to develop web process automation for complex websites. With its built-in graphics editor, the application can be used to navigate any website through example-based learning.>
- The tool contains the Query Optimization capability to help to automatically improve performance deducing the optimal query plan for minimizing network transfer load and execution time.
- Denodo features a dynamic data catalog that helps users to access their data using a convenient search button.
- This tool provides a secure and restricted access to an enterprises’ database using a single point of control and administration.
- The platform also offers support for, and connectivity to, a wide range of databases.
Pentaho by Hitachi Vantara is a data integration tool that differentiates itself from other similar applications with its ability to combine analytics processing and data integration.
The platform contains a wide range of advanced analytics, based on predictive modeling to basic reporting. The tool provides a seamless experience by integrating with mobile applications on devices such as smartphones and tablets.
Pentaho also integrates with a number of data sources including Google Cloud, Microsoft, Spark, and more.
- Pentaho can blend in various sources of data including data from Hadoop, NoSQL, and analytics databases through its user-friendly drag and drop tool.
- The platform provides a wider range of reporting intuitive and straightforward solutions such as self-service reporting or reporting for more significant enterprise processes.
- Pentaho features powerful visualization that allows users to interact with their data to see all the essential details.
- The platform also features a complex scheduling functionality that allows users to schedule the sending and receiving of reports and other forms of data at specified intervals.
WhereScape was established to enable organizations with leverage automation to design, develop, deploy, and operate databases in a much more efficient way. Companies all over the world rely on this application to eliminate hand-coding and other repetitive, and time-consuming aspects of data.
WhereScape helps to deliver data warehouses, lakes, vaults, and marts in days and weeks rather than months or years.
- WhereScape features a scheduling tool which enables its users to plan tasks, and processes within the organization.
- The Documentation of the platform has great potential as it grants its users the ability to generate data lineage and a complete set of rich documentation and output in several formats.
- The tool uses built-in best practices for common data warehousing modeling techniques such as data vault to eliminate complexities and enhance development.
- With WhereScape, users can choose to complement or replace existing ETL tools as the application can perform both functions.
Unified by Diyotta is the only enterprise self-service data integration tool that operates natively on Hadoop.
The core reason for the establishment of Unified was to integrate data from various sources such as structured and unstructured data from related or unrelated databases.
The application makes it simpler for its users to gain access to data for effective decision-making.
- The auto-data integration feature does away with the need to write a single line of code. The tool allows you to easily analyze and derive meaning from a given set of data.
- Unified offers an efficient mode of learning among its users in an organization to reduce time to insight.
- The tool contains features to control access, providing an organization’s data security and an understanding of the lineage of the data.
- Unified has the ability to catalog sources of data in place, thereby generating a full catalog of metadata.
- Users can use the platform to search and discover various system capabilities such as AI-powered auto recovery.
Whether you’re looking to integrate batch data from legacy databases or live data straight from the internet, the solution you settle on should be robust and future-proof. You want to go for a tool that caters to your future needs in terms of effectively handling increased volumes of data.
Lastly, more and more organizations continue to see the importance of data integrity and flexibility. Businesses are looking for the best piece of tech their money can ever afford them. To that effect, you should aim at adopting a database integration tool that can handle multi-structured data or data from diverse sources and, of course, the best possible tool your money can ever afford you.