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Data Enrichment-All you need to know

18 Aug 2023

By AroundDeal

Data Enrichment-All you need to know

In a time when information is really important, having good data matters even more than having a lot of it. But sometimes, the data we have is like puzzle pieces that are missing important parts. That's where data enrichment comes to help.

Data enrichment means making raw data better by adding extra information. This helps the data become more valuable and useful. This extra information can be things like location, emails, phone numbers, company name, industry, company details, and more. To do this, you combine data from different places, like your own records and other sources.

Think of it, like giving your data a boost by adding extra details that make it more useful. This blog will show you how it's different from cleaning data, why it's a big deal for businesses that rely on data, and how tools like AroundDeal can enhance your data.

How Is Data Enrichment Different From Data Cleansing?


Data enrichment and data cleansing are two distinct processes in data management that serve different purposes within the data lifecycle.

Key Differences:

Purpose: Data enrichment focuses on enhancing the depth of data by adding more information, while data cleansing focuses on improving the quality and accuracy of data by identifying and correcting errors.
Sources: Data enrichment typically involves using external data sources to supplement existing data, while data cleansing addresses issues within the existing dataset itself.
Process: Data enrichment involves collecting and integrating additional data, often from external APIs or databases. Data cleansing involves identifying and rectifying errors within the existing dataset, such as duplicate records, missing values, and inconsistencies.
Outcome: Data enrichment results in a dataset with more comprehensive information, while data cleansing results in a dataset that is more accurate and reliable.

Why Data Enrichment Really Matters？


Data enrichment matters because it enhances the overall quality and usefulness of data, enabling organizations to make better decisions, tailor their strategies, and gain a competitive edge in today's data-driven business landscape.
Improves customer segmentation

Improves customer segmentation

Making customer groups based on similar traits is called customer segmentation. It helps sales and marketing teams create focused campaigns.

When you add more information to this customer's data, we get a better understanding of these groups. This means each potential customer gets a more personalized experience, which makes more of them actually buy things.

Making Ads that Click

If you have a big box of crayons, but you only know the names of some colors. Data enrichment is like getting to know all the colors in that box. Companies can learn more about their customers, like how old they are and what games they like to play. This helps the company make ads that customers really like.

For example, if they compare two ads—one with basic info and one with extra info—they might see that more people like the second ad. This means more people buy things from the ad or pay attention to it. You can figure this out by looking at numbers like how many people click on the ad or buy things.

Enhanced Decision-Making

Enriched data provides a more comprehensive view of your customers. This, in turn, allows for better decision-making. With enriched data, businesses can identify trends, customer preferences, and market opportunities more effectively.

If company uses enriched data to analyze customer interactions with their website. By incorporating data about the pages visited, time spent on each page, and actions taken, they identify which features of their product are most appealing to customers, guiding their future development efforts.

Saving Money

According to a report by Global Databerg, an organization with one petabyte of data spends around $650,000 annually to manage the data. However, these companies only use a fraction of their data for any true benefit. They expend significant amounts of money on taking care of this data, even though they only use a tiny portion of it.

Data enrichment helps them save money by eliminating the unnecessary components and retaining only what aids their business.It's similar to having a special box for your favorite toys and use the money you've saved to acquire new toys that you genuinely enjoy.

Before Enriching Your Data, A Few Things Need to Be Done:


1.Consider your data needs: Web datasets fill gaps and enhance data for better decisions. Each dataset has unique info. Add one or more to your data for accuracy.

2.Analyze existing information: Prioritize right data, not just more. Improve useful info, not clutter with irrelevant details. Review what you have, analyze it, and add what helps customers best.

3.Automation of data enrichment processes ：When you add information to data by hand, it takes a lot of time and effort. You might make mistakes, and the sources you use might not always be right. Putting improved data into your systems is also hard. But don't worry, automatic enrichment can help with these problems.

Enhance Your Data with the Help of Enrichment Tool


Making your data better using enrichment tools means adding more information from different outside sources to your existing data. This helps to make your data more accurate and detailed. If you're uncertain about selecting an enrichment tool, I recommend exploring the advantages of AroundDeal Enrichment.

AroundDeal offers access to over 120 million global businesses' data, including 110 million verified business email addresses, with a guaranteed accuracy rate of up to 95%. The AroundDeal Enrichment feature seamlessly complements your data, offering an efficient approach to enhancing its quality and depth. This tool presents a streamlined and effective method for supercharging your dataset.

Using AroundDeal Enrichment, you can enrich various types of data. Here are some examples:

Name
Location
Job title
Emails
Phone numbers
Company name
Industry
Company headcount
Company headquarters
Company founded year
Company website
Company specialties
……

Using AroundDeal Enrichment, you can have the following three ways to enrich data：

  1. Simplified CRM Completion with Salesforce and HubSpot Integration: Effortless integration with your CRM account enables the setup of automated completion workflows. The platform intelligently correlates pertinent data, generating completion reports that adhere to field rules and recommendations from decision chains. Elevate your prospecting experience with AroundDeal on both HubSpot and Salesforce.

  1. Efficient CSV Data Enrichment: Easily enhance your data by uploading a CSV file containing contact or company information. Simply designate corresponding fields and decision maker suggestions. Then, initiate the data enrichment process by clicking "Start," culminating in the generation of a comprehensive completion report.

  1. Seamless API-driven Enrichment: Use the dedicated key provided by the system to seamlessly access the API interface. By leveraging this capability, the system adeptly augments contact and company information utilizing contact email addresses or LinkedIn profiles, as well as company names or domains.

Key Takeaways:


  • Data enrichment means making raw data better by adding extra information.
  • Data enrichment matters because it enhances the overall quality and usefulness of data.
  • Before improving your data, think about what you need; analyze existing information; automation of data enrichment processes.
  • Use AroundDeal Enrichment to enhance your data, streamlining CRM completion through seamless integration with Salesforce and HubSpot. Benefit from efficient CSV data enrichment and a smooth API-driven enrichment process.

Unlock your data's potential for business growth with AroundDeal's automated data enrichment.Try now for 5 free leads!
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