Nowadays, it is crucial that companies keep their customer data and company records up to date. However, keeping master data up-to-date is often a tedious and time-consuming task that requires a lot of resources. In this blog post, we would like to introduce you to a solution approach that can help you automatically update company data and keep it up to date: Data Enrichment.
What is Data Enrichment?
It is a process of filling in missing data in existing data sets to improve the quality and completeness of the data. For example, company records can be enriched with additional information such as phone numbers, email addresses, locations, and employee counts. The enrichment ensures that your company has a complete overview of your customers and business partners.
Why is updating master data crucial?
Regularly checking master data is a key factor as it ensures that your company has accurate and complete information. When customer data is outdated or incomplete, managing effective marketing campaigns, maintaining customer relationships, and making decisions based on this poor data becomes difficult.
To be specific, incomplete or outdated data leads to inefficient business processes. For example, lack of contact data can delay communication with customers, leading to disadvantages in sales processes and a worse customer experience.
What does offer Data Enrichment?
Data Enrichment offers companies a simple and effective way to automatically keep their corporate data up to date. By automatically enriching data, missing information can be filled in and outdated data can be updated.
Data Enrichment additionally offers a way to validate business email addresses. By automatically validating email addresses, businesses can ensure they have accurate contact information and improve the effectiveness of their email marketing campaigns.
Data Enrichment allows you to update a wide range of records quickly and easily. Information that needs to be updated is uploaded as an Excel or CSV file and then automatically enriched through the Data Enrichment service. Once the process is complete, the data can then be downloaded again in enriched form. The exchange of data is thus quite simple and does not require any additional technical knowledge.
Conclusion
Data Enrichment is a useful solution for companies that want to keep their master data up to date. By automatically enriching data, missing information can be filled in and outdated data can be updated, leading to better business decisions and a more efficient customer experience. Overall, updating master data is a crucial aspect of data management that can help optimize business processes in many ways.
