Data enrichment

Location and geographic data

If your customers are dispersed across different regions and countries, enriching data may seem like a complex task due to variations and limitations of data acquisition methods. Grouping consumers by geographical location adds location intelligence to your customer data by providing information about people and places in a specific area. This strategy allows you to see where your services and products are being used and identify key regional patterns such as age, expenditure categories and income.

For consistent data enrichment, Experian’s WorldView provides data insights across multiple countries to be used for global location planning, customer insight, and targeted marketing campaigns. With Experian Data Quality, you get access to geolocation enrichment tools that can link to the consumer address.

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What is data enrichment and how does it help you to make accurate data-based business decisions?

Boost sales with high-quality data

Keeping your customer data updated and accurate enables you to identify new potential markets and opportunities with your existing customer base that can ultimately boost sales. Often knowing where your customer lives and their purchase history is not enough, but you can enrich this data by adding additional information such as income, cost of living, and demographical data to identify needs and interests which drives sales.

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What is data enrichment and how does it help you to make accurate data-based business decisions?

Business marketing database and lists

Business marketing databases and lists include high-value business information of prospective customers that can be used to deliver actionable marketing, increase sales, and brand awareness. Business data from Experian’s National Business Database provides an up-to-date catalogue of UK businesses including business names, contact information, and business demographic data. With access to over five million SME businesses in the UK, this tool can enhance your ability to capture, validate, and manage corporate data.

Related links

What is data enrichment and how does it help you to make accurate data-based business decisions?

Industry and sector-specific data

Every industry can benefit from data enrichment and receive improved customer insights, enhanced productivity, and accurate data. For the best results, ensure you know who your customers are and what they care about whether that be in the public sector, health, or utility industry.

With Experian’s Utilities Enrichment, designed to assist the UK energy market, utility industries can simply access customer addresses, utility assets, and consumption data to build improved data sets and gain quality customer insight.

Extend your data sources

Looking at limited data sources provides only limited insight into the customer. To understand more about your existing customers, you can access third-party data and other external sources that detail demographic, geographic, and behavioural information for a more comprehensive data set. ConsumerView, exclusive to Experian, provides a real understanding of who are your customers down to their estimated income, type of car, and property details to help you build a comprehensive profile of your customers and prospects.

Database integration

Seamless syncing and integration into your choice of database will improve operations, increase employee efficiency, reduce human error, standardise the format, and reduce the risk of data quality being impacted. This process of integration is used to aggregate information from multiple sources, which is then combined and presented as a single data set.

Process

You must ensure that enriched data is collected and used in compliance with data privacy regulations and that security measures are in place to protect against data breaches. Using a trusted partner who will ensure the correct protocols and regulations are followed and will implement secure data processes is one of the best ways to assure compliance. With trusted data sources and secure data enrichment, your marketing database is there for you when you need it with instant access.

Data appending

Data appending involves filling in and finding missing information or correcting inaccuracies in an existing dataset by supplementing it with external data sources. These sources can include demographic and behavioural data, such as postal addresses. This process aims to enhance customer profiles, enable better segmentation, and support more effective marketing and sales strategies by matching the dataset with accurate and up-to-date external data.

With Experian Identity Resolution services, you can support data appending by helping to match and merge data from various sources. These services are based on advanced algorithms and data entry points that belong to the same individual or entity.

Enrichment for all sizes of business

If you are unable to commit to a long-term license or are unsure of your data requirement, with Experian APIs you can enrich data on a record-by-record basis giving businesses of every size the opportunity to benefit from data enrichment. This is suitable for businesses that require the freedom to only pay for the data they enhance without committing to a license.

Keeping your data up-to-date and compliant

Changes in the population mean that your customer data is constantly decaying. Every year, approximately 3 million people move home, 600,000 people pass away, and around 900,000 register on Telephone Preference Services. Keeping your customer data regularly cleansed ensures you maintain the most accurate and up-to-date view of your customers, to identify those who cannot respond to communications and helps your business operate in a cost-effective manner.

Experian Suppressions API can update records with an ‘opt-out status’ whether that be deceased, gone away, or preference opt-out. The API feeds directly into your databases to periodically cleanse the dataset and flags against incorrect or outdated data.

Improve targeting and marketing campaigns

By establishing a good understanding of your customer with enhanced and accessible data, you can create and distribute better-targeted marketing and digital marketing campaigns to specified groups and segments.

Use machine learning

Machine learning algorithms are used to optimise match rates between your data and the Experian data sets that you want to use for enrichment.

Experian deploy machine learning to create the best possible matching rule sets for the use cases you have in mind, rather than using it to do the actual matching. Supervised learning techniques like this ensure that the match rules chosen are suited to the use case (neither over-matched nor under-matched) – be that profiling for audience targeting, credit decisioning, or fraud checking.

When exploiting the power of machine learning, we believe you should have complete control of the matching rules created throughout so that you can always answer the question “Why did/didn’t these records match?”. This ensures auditability both internally and with regulators.