What Data Enrichment Means and Who Uses It
Overview
What is Data Enrichment?
Data Enrichment is a process used to enhance, refine or otherwise improve raw data. This idea and other similar concepts contribute to making data a valuable asset for almost any modern business or enterprise. It also shows the common imperative of proactively using this data in various ways.
This post will discuss the concept of Data Enrichment, its relevance to the world, the people that should be thinking about it, viewing the different use cases, and presenting five possible tools for it.
Why is Data Enrichment relevant? And who needs it?
Data Enrichment is a term that started becoming essential lately in any company’s plan for success. As data has become abundant in our world, the problem that companies are facing isn’t the absence of data, but having low-quality data, that doesn’t help them much in planning for the future. Here is where Data Enrichment kicks in, as it elevates the quality of the already-existing databases, to ensure a better plan for the future customers, simply by understanding the current customers more.
Answering the second part of the question is easier, as the answer is simple… Every company who wants to succeed in the market!
This comes from the fact that companies that appreciate the feedback from their customers tend to do better in the market, compared to companies that have low-quality data on their customers and their opinions. It is simple logic, having a higher quality of the data of today means a greater understanding and more accurate predictions for tomorrow.
The Use Cases
Companies can, and should, use Data Enrichment for numerous reasons. Some of which will be introduced here.
Shorter lead capture forms:
The use of a smart tool, or platform, to shorten the forms a visitor to a site should fill, enhances the visitor’s experience, and therefore, result in more visitors to the site.
More Personalization:
Customers tend to have better reviews for online websites and sellers in general, when they feel talked to personally, rather than generally. This point is really important, as DE is a strong tool that provides the grounds for this move, as it personalizes the data of the entries, to enable the company to personalize its next campaigns, ads, and requests.
Enabling Machine Learning technology:
The world of today offers a great, and simplistic, tool that can perform sophisticated processes, without any manpower or effort.Artificial Intelligence can acquire data about the customers in an enhanced, more personal, method, using an intelligent device.
For more info on the use cases, check this list.
Tools used for Data Enrichment
This powerful tool combines two features in one platform: lead scoring and data enrichment. It collects info on customers by scanning websites, social media, and so on, creating a rich database, that needs a few touches to be ready; phone numbers, and email addresses. It is a powerful platform that companies can rely on with confidence, as its accuracy is great. It also leaves space for the company to segment out a specific group among its customers, with flexibility.
Approaching the game differently, Lusha offers a direct approach to enriching a company’s salesforce lead, by integrating and enriching social profiles, achieving minimal research time and larger responses rates.
It integrates with numerous apps and platforms and is endorsed by specialists from big companies like T-mobile and IBM.
This tool performs three possible processes to databases. Data Cleanse, in which it deletes abundant and outdated data in the already-existing databases, and then fill them with updated data as it comes. Another one is Lead Enrichment, which fills the data fields that are left off. Thirdly, it provides Customer Data Validation, which verifies the data of the entries, and drops those that are inaccurate from the profiles of the customers.
Another typical name in the market, it is known for being powerful in data verification and enrichment. This tool can operate by filling in holes that were left out by other platforms, in other words, it integrates well with other platforms a company might be operating on. It connects to the company’s email marketing automation and makes the outbound process more efficient and less pricey than inbound, by contacting the right leads and providing a real-time response record.
A plus for this platform is the unlimited upper limit for the number of users, which means that companies can scale up their databases without fear!
Duplicate records, degraded prospect data, reporting inaccuracies, and account mismanagement are all common afflictions that degrade the value of a company’s data. RingLead is an excellent tool for companies that are affected by those issues, it can “heal” and deal with massive databases. It automatically imports prospects from LinkedIn!
Closing Thoughts
Viewing all of this shows how important is Data Enrichment as a fundamental stage for companies’ successes. I discussed the meaning of the term, its relevance, and importance to people, especially Marketing managers, and presented several use cases for it. Moreover, we saw five of the most powerful and innovative tools that perform this process neatly and smartly.
Whether a company is trying to better understand its past campaigns, failed or successful, or to get a more accurate prediction of the future ones, the company needs Data Enrichment. This is due to the importance high-quality databases have, simply because they represent the customers and what do they actually want.
The world of data is entering a new level, where quantity is not the problem anymore, but the quality!
References
Data Enrichment
https://www.techopedia.com/definition/28037/data-enrichment
4 Data Enrichment Tools for Lead Generation
http://technologyadvice.com/blog/sales/data-enrichment-tools-lead-generation/
8 Use Cases for Data Enrichment
https://www.reachforce.com/blog/8-use-cases-for-enriched-data/
What is Data Enrichment?
https://blog.cvmsolutions.com/what-is-data-enrichment