Customer and business data enrichment lets you tap into reliable data resources to enhance your existing data with additional information. You can use expanded data to get a complete view of your customers that lets you make data-driven decisions for your business.
Why your business should use data enrichment
If you want to make data-driven business decisions, you have to be able to trust your data. Unfortunately, most organisations can’t rely on their data because it has inaccuracies. According to our global data management research, 55% of business leaders lack trust in their data and think about a third of their customer data is incorrect in some way. This means fewer data-driven decisions and a less agile business.
By enriching your data, your organisation opens up new information about your customers while also making sure your existing data is accurate. When you purchase a data set from a trusted source like Experian, you can be sure the data regularly refreshes to keep your data lists updated and reliable.
For example, you might find that customers from a certain area are more likely to buy a certain product. Or, your enriched data may update your records with the most recent customer data and show that many of your customers have moved in the last year. As new information becomes available through enrichment, your organisation can use the enriched data to re-evaluate strategies and make stronger business decisions.
Take a closer look at how data enrichment works and how adding data sets to your existing databases could give you a better understanding of your customers.
- What is data enrichment?
Business and marketing data enrichment is the process of expanding existing data with additional information. Enrichment often uses reliable third-party data sources to find more information on customer contact information or other data.
For example, you want to expand your customer postal address information with data about the properties where customers live. You can enrich your existing records with location data sets that could give you information on property taxes, dwelling type, or geocodes for more accurate deliveries.
- What is a data set?
A data set is a collection of data used in consumer data enrichment and B2B data enrichment. To enrich your existing records, you can buy a large data set that features additional data on customers. You can take this additional data and append your existing data for more insights and a better understanding of your customers.
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- How do data enrichment solutions work?
A data enrichment solution is an all-in-one resource for validating, enriching, and managing your data. Data enrichment solution from Experian starts by verifying your existing data. Your records are checked for inconsistencies, duplicates, and outdated information. Your data enrichment solution can then fix any issues and validate your customer names, phone numbers, postal addresses, and email addresses.
Once your data is verified, you can purchase data sets to enrich your data with information that might be missing or incomplete in your existing data. Experian has access to some of the most reliable and useful data available for your business, with over 900 additional data attributes, including demographics, lifestyle information, location details, and segmentation option.
Capture. Check. Convert. With Experian Contact Data Enrichment and Location Intelligence
When you use Experian data sets to enrich your customer records, you get more than high-quality data. You also get access to Experian’s data consultants to help you get the most out of your enhanced data.
Data enrichment from Experian gives you access to:
- Data quality experts: We have a team of data quality consultants, who are subject matter experts catering our services to different industries. Our team can support your data quality journey through a consultative approach by giving you insights and benefits that can be derived from enriched data.
- Unmatched data sources: Experian’s data lists and sources are unmatched by almost any other data enrichment and location data services. Experian houses a variety of enriched reference data sourced by partnering with multiple data providers to help customers derive better insights for decision-making, enhance customer experience, and gain a competitive advantage.
- Compliance-ready data sets: Staying in compliance with the GDPR and compliance regulations isn’t always easy. We have designed our solutions and data to help you manage the requirements of the GDPR and prosper in our data-driven economy.
- Easy-to-use integrations: Effective data quality roadmap is essential to sustain a data management strategy. At Experian, we build our data quality and enrichment products that work for your digital transformation objective. Our tools and systems are easy-to-use and come with pre-built integrations for a seamless transition to better data quality management.
See how customer and business data sets from Experian can improve the health of your data and let you make more accurate business decisions by getting in touch with our data quality experts today.