Keep Calm & Data On - Empowering Decisions with MuleSoft

Find out the 5 key tips to empower data-driven decisions with MuleSoft.

Keep Calm & Data On

Key Tips to Empower Data-Driven Decisions with MuleSoft 5

Real-time Connectivity for Faster insights

Across industries, from retail to public utilities, who isn’t paying close attention to their data integration and management? Today, leaders accept that data management is central to the success of their organizations. In fact, data has rapidly turned into business currency and become a core part of a company's monetization strategy. This acute awareness and the explosive growth in organizations looking to transform their digital environments emphasize the importance of establishing strong digital foundations and practices. Enter MuleSoft. As a platform, MuleSoft allows your organization to process data instantaneously and empower faster insights and responses to your dynamic business conditions. With MuleSoft’s unified connectivity approach, you can seamlessly integrate data sources, application programming interfaces (APIs), and apps to build, deploy, and manage at scale.

This means you get a highly scalable and reliable platform that is capable of handling large volumes of data and supporting mission- critical business processes. Concord leverages this scalability and reliability to build robust data integration solutions that grow with the organization and meet its evolving business needs. Ultimately, however, it’s not enough to simply have a cutting-edge digital ecosystem; organizations must have that ecosystem working for them. In this eBook, we’ll dive into five key areas that you need to get right to make sure your MuleSoft instance is operating at full-strength.

Florin Ibrani Chief Executive Officer

Ivaylo Guenov Chief Operating Officer

Raghav Jupally Director of Data Management

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FUEL YOUR SPEED-TO-MARKET

First, successful data integration boosts speed-to-market. As your organization’s technology evolves, the capacity to aggregate and analyze data in (near) real-time, becomes increasingly common.¹ In turn, organizations with effective data integration collect and interpret information at larger scales faster than ever before. This approach allows you to make the right decisions or changes much earlier and more frequently in developing products and services. As a result, optimizing data integration capabilities dramatically enhances speed-to-market. For example, when the COVID-19 pandemic led to a drastic increase in new loan requests, a U.S. bank could leverage its data integration to implement new lending and reporting processes in only two days. This case is not unique. With our Concord + MuleSoft collaboration, you can now integrate and manage your data to enhance your speed-to-market for you and organizations across industries.

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reduce costly errors WITH DATA-DRIVEN DECISIONS

Your organization is not necessarily set up for data- driven decision-making just because you possess a digital environment with data capabilities. Ultimately, without proper data integration, your data fails to provide meaningful, holistic visibility for guiding decisions and identifying risks.² Modern data integration with Concord and MuleSoft’s Anypoint platform creates visibility for your organization that guides data-driven decisions. For example, an organization that aims to increase revenue has many ways to accomplish that goal. They may consider: Selling more of their product to existing customers Targeting new customers Developing new products altogether · · ·

Each of these three possibilities involves diverse paths for execution and actualization. With Concord and MuleSoft Anypoint’s unified approach to connectivity, we connect seamlessly all your data sources, APIs, and applications. As we aggregate your data from various sources including your CRM systems and social media, we get insights into strategy viability to reach our goal. Increased revenue for you organization to help leadership make decisions that are far more likely to have maximal benefits. This systematic approach to decision-making provides and organizes additional resources to successfully guide your business while reducing the likelihood of costly and time-consuming blunders.

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IDENTIFY RISKS AND GAIN peaCE-OF-MIND Modern data integration helps you identify risk reliably. Effective data management and governance provide real-time insights into relevant risks like cybersecurity threats and financial issues. With MuleSoft Anypoint, Concord uses data to assess risk so organizations can identify concerns before they become threats—and threats before they become breaches—saving substantial time and money. This informed approach to risk also underpins the peace of mind and trust that customers expect from an organization.

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3 Data-enabled risk identification is more important than ever

45.5%

$4.24 Million

Survey respondents who said their organization faced between 1-5 successful attacks in the past year

The average cost of a data breach

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VERIFY COMPLIANCE & Identify Irregularities

Effective data integration helps facilitate compliance verification and reporting. As we work together with MuleSoft Anypoint, we integrate data from heterogeneous sources across the business that encourages compliance-reporting consistency. Such comprehensive integration helps you continuously identify and verify unexpected inconsistencies and address them before regulatory bodies get involved. This preventative measure allows organizations to continue doing their work regarding all relevant regulations and establishes an easy pathway for reporting.

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IDENTIFY GAPS IN YOUR DATA

Finally, data integration optimizes operational efficiency. Not only does the digital ecosystem that enables data integration create automation opportunities, the visibility created through effective data integration helps organizations identify gaps and inefficiencies. Modern platforms identify issues or shortcomings in the supply chain, like unreliable vendors with a pattern of missing delivery dates. As a result, organizations gain the information needed to reduce the risk of time- consuming supply chain disruptions. In addition, identifying inefficiencies encourages organizations to apply solutions that support businesses with their overall objectives. With MuleSoft Anypoint, Concord optimizes your operational efficiency through this automation to establish standardization processes that reduce opportunities for human error.

the bottom line

Effective data management supports every core

facet of the business.

However, many organizations embark on digital

transformation journeys before completing several

vital steps in a successful evolution.

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Goal Setting with Modern Data Integration

Before you start the process of setting goals with your modern integration plan:

Step One: Step Two:

Understand how to leverage data integration, and Clearly define and organize your organization’s goals

The desire to have the latest technology should not drive your digital transformation journey. After all, newer tech capabilities are not always appropriate when applied to the particular context in your organization. Instead, evolving your technological environments should be driven by the needs of the business so that the data infrastructure and practices can best support the business’s unique goals and culture. From identifying risks and inefficiencies to facilitating regulatory compliance, the level of visibility created by effective data integration is invaluable for any organization. But visibility alone is not enough to drive success. It is useful only insofar as it causes meaningful changes. Data, in other words, should not just be analyzed. Instead, data should inform solution design and decision-making in your organization—and to accomplish this, it requires your leadership buy-in.

Leadership buy-in is fundamental to effectively put data to work and support business goals.

To drive buy-in, organizations can lean into data literacy training, which teaches leaders when and why to invest in the retirement of legacy systems and how to design and use modern data management. Buy-in generates organizational alignment and ensures that employees will act upon insights derived from data.

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FORMIng a Foundation for Meaningful Modern Data Integration

Before you turn to the technical details for an optimized digital environment, your organization needs to understand how to:

• Leverage your data Define your business goals and needs Garner leadership buy-in • •

We recommend the following strategic assets to establish a strong foundation for data modernization efforts:

Data Usage

Foundational Items

Data Delivery

Enterprise Data Catalog Data Quality & Usage KPIs Enterprise Data Analytics Enablement Self-Service Analytics

• • • • • • •

Data Platform Architecture Data Modeling & Design Data Migrations Roadmap Governance Processes & Approach Data Platform Security Data Security in Motion & at rest Data Classification Guidelines

• • • • •

Enterprise Data Storage Data Exchange Specifications Data Integration Patterns Data Discovery Solutions Data Delivery & Performance

• • • •

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Tech teams have been implementing specialized APIs to increase the speed and quality of information exchange and data sharing. The is a perfect example of what tech teams can use to optimize their information exchange between constituents. MuleSoft Anypoint Platform We can help implement modern data strategies for your organization

MuleSoft provides pre-built assets to tech teas to develop an entirely individualized API system to help manage your number one asset—data.

As a featured partner for MuleSoft, Concord delivers connectivity solutions across SOA, SaaS, and APIs for seamless integration. Our partnership allows us to:

Improve accuracy Minimize overhead

• • • • • •

Enable business decisions Eliminate technical debt Improve customer loyalty Speed up applications

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If you’re looking to modernize your approach and mature your organization’s data management strategy, we can help make the process a little easier with MuleSoft Anypoint Exchange. There’s no silver bullet for approaching data management – each organization has unique needs and challenges. However, we work with you to recognize what’s important and implement a program that will scale with your changing data needs.

Endnotes

Pierdominici, Emiliano. The Business Value of Data Virtualization is Time (and Speed). Nov 2020. https://www.datavirtualizationblog.com/business-value-data-virtualization-time-speed/

Joshi, Sagar. How Data Integration Helps Make Strategic Decisions. Nov 2021.

https://www.g2.com/articles/data-integration

Lukehart, Ashley. 2022 Cyber Attack Statistics, Data, and Trends. Jan 2022. https://parachute.cloud/2022-cyber-attack-statistics-data-and-trends/

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