The Concept of Data Standardization
Data standardization helps you to make the data consistent and clear and suitable for use throughout the enterprise. Consistency of data ensures that you can obtain an output that is perfect to be correlated to the existing data within your organization. Clear data ensures the clarity of the data so as to be used by various stakeholders for internal and external processes. Data standardization can be performed at various levels starting from local to global standardization.
Data standardization is the best way to establish a standard, uniform and authentic database which can be utilized for various processes and tasks across the organization. It eliminates the possibility of errors and ambiguity of data and reduces the possibility of dirty data and its consequences. Ideally data standardization can be done along with the entry of new data or when the data is updated. This saves lot of efforts. However data standardization can be followed as a complete process even when you wish to revert and get the data streamlined. There are various vendors and third party services that offer data standardization with various types of combinations.
Data of various types can be standardized and each process has its own benefits:
Standardization of Product dataProduct manufacturing organizations have enormous data related to various aspects of their products. This includes the product documentation, catalogs, customer related information, transactions, purchase and delivery order information and so on. The data occurs in various types of files and is usually accessed across various locations and updated by various teams. This data can be standardized by profiling, classifying, working on various issues that create complexity.
Financial dataThis comprises of a variety of financial records that need to be sorted and streamlined. Financial data is usually confidential and needs to be worked upon with the rules of security and confidentiality. Financial data could be related to an organization that deals with a finance domain or it could be the finance data of any other organization.
Demographic dataThis comprises data that gives you the demographic details like names, addresses of the employees and customers. This type of data is extensive in the sales and marketing domains and needs to be customized and standardized based on various parameters. For example, address standardization can be done across geographical locations, along with Geo-coding and various basis of classification. The names of customers can be standardized with prefix, suffix, first or last names and also based on the period for which the services and availed by them.
Other than those mentioned above, there are various types of data that can be standardized as per the requirement of the organizations.