Data Extractor no More a Costly Affair: Framework Which Can Solve Your Problem

They say – data is the new oil. But they forget to mention that it’s everywhere. And it’s not always a pleasant day when oil is spilled around you. With the explosion of Big Data, this world gets even more slippery. From customers to suppliers to social media to enterprise software to accounting systems to government files- you have so much data all around you. How do you find what you exactly need at that precise moment of a decision? How do you master not just data extraction but affordable data extraction?

Data extraction solutions are the answer – in some way. They help you to clean, reshuffle, rearrange and dive into all this raw and scattered data. They empower your eyesight to find insights that help in decision-making areas. These solutions allow you to deal with a complex volume of data, enhancing data accuracy and accelerating access to data. That’s why the global data extraction market was as huge as $2.14 billion in 2019 and is slated to touch $4.90 billion by 2027, as per Allied Market Research. The surge in big data and business analytics software adoption by multiple organizations is one reason for this appetite. 

Data extraction bumps

At the same time, there are concerns regarding the quality of data and the complexity of data extraction from various sources. To use any data extraction solution, a company must invest some time and strategy in a proper framework as a cost-effective solution. This is also an imperative due to some endemic issues with traditional data extraction methods:

• They are slow and clunky
• They hamper, rather than speed up, actual decision-making
• They are fragmented in the sources and formats of data
• They are fraught with bureaucracy
• They can present irrelevant answers due to context-gaps
• They have accuracy issues and many unseen errors

Enter – a cost-effective framework

A solid and sharp data extraction framework can solve many of the problems mentioned above. It can inject speed, intelligence, and context into the entire pipe of data extraction. It can also easily lead an enterprise toward affordable data extraction.

A good data extraction framework can design and scale the extractor in a way that meets an organization’s unique data and analytics needs. It can automate data storage, retrieval, and processing processes. It can cover meta-data in a specific way that aligns closely with the demands of actual decision-makers. It also minimizes data duplication and addresses heterogeneity with its ground-up and cohesive architecture approach. 

A good data extraction framework automates data extraction. And leads to significant cost savings compared to traditional methods. Its unique and crisp approach to data extraction helps in improved accuracy and efficiency, along with unprecedented scalability and adaptability to different data sources. The mark of such a data extraction framework is also seen in its easy implementation. Its user-friendly interface and solid execution capabilities ensure that the enterprise leverages actual value out of this investment.

Key features and functionality

To tap the highest outcomes from such a data extraction framework, you should look for some essential elements:

1. Intelligent data extraction algorithms: Designed intelligently for the specific data analysis and actionable insights needed by the organization.
2. Support for various data formats and sources: So that data extraction is not crippled by the presence of a format it does not talk to. It should be conversant with as many formats and sources as the organization deals with.

3. Data cleansing and validation capabilities: So that true accuracy is strengthened and any anomalies are filtered at the onset in a data pipeline.
   
4. The ability to handle complex extraction scenarios: A good data extraction framework allows an enterprise to manage sudden spikes or setbacks caused by demand volatility or data fluctuations. Even in the case of tough compliance imperatives, a good solution will be able to balance rigor with timeliness and accuracy – without making a dent on the cost side for the organization.

5. Easy integration with existing systems and workflows: Whether through APIs or architectural interfaces, or Cloud migrations – a robust data extraction framework allows an enterprise to hit the ground running with the new tool immediately. It can handle various workloads and data buckets – irrespective of legacy data architecture. 

No enterprise can compete in today’s digitalized world without the ability to extract and act upon data lightning-fastly. Even a latency of a few seconds can cost the enterprise precious customer attention and loyalty. You should streamline your data extraction processes so you do not fall back into the data race just because you spilled some erroneous data. 

Experts from Carvewing can help you to enjoy flawless business-critical data and help them make smart business decisions. Carvewing’s data consulting services, Machine learning experts, custom-built answers, algorithms, and data management tools allow enterprises to unlock the true power of data. What adds beauty to this magic is the opportunity to tap custom-built answers that address a given vertical, industry challenge, or opportunity uniquely – as available at Carvewing.

The haystack of data will not get smaller- not any time soon. It’s best to invest in the right tool as it gets bigger and more complex. Shovels or pincers – you decide with the help of the proper data extraction framework. To learn more, talk to our experts.