Answer to Question #78872 in Finance for Liam Johnston

Question

How data might be consolidated or converted to allow it to be analysed?

Answer 1

A large majority of us are familiar with news broadcasts, weather announcements, presidential speeches, and even military briefings given to senior commanders. In each case, the data used to create these informational sessions are a result of effective data consolidation. There are thousands of news stories published every minute, weather patterns are constantly changing, and business and military briefings are presented on a regular basis.
Material used to create each presentation, regardless of the audience, must be combined, analyzed, and controlled. By organizing the information into a usable and manageable amount, responsible individuals are able to consolidate the information and organize it into a single source. Then through analysis, they can extract the most critical components for delivery.
We can define the term data consolidation as a process during which a vast amount of information is gathered, stored, and combined into a sing.