Data: this very word is one of the most important for possibly everything. Every business, every research and every possible project in every industry solely depends on the data at hand. The business that can use the data in the proper way can achieve its goals faster than anyone else. Whenever a business is about to launch a new brand or product, it can definitely use the old data to make its way to the customers. The only thing of concern is the quality of the data. The better the quality of the data, the better it is for the business. That is where data enrichment comes it. It is a process of data integration where the missing part of the details are filled in to find the solution of a problem.
Collection of valuable data
Enriched data points towards the data that is relevant to the issue at hand. It is not merely adding more info to the data set. If the data is not relevant, it is never enriched. When a company need more information, this quality data helps to generate questions to ask the clients and customers. One example of enriched data is chatbot. Chatbots are built on machine earning and artificial intelligence. These chatbots use enriched data to give proper answer to the questions of the customers and get the feedback.
Accuracy
Though inanimate, data is prone to decay. A simple contact list will not be as usable as it is after 1 year. 30% of all the contacts will become useless as the customers or clients change their phone numbers. That is why it is necessary to keep your data set clean to get good results. the produce of enriched data help to correct typos and warn about invalid addresses so that the business does not waste the efforts on useless things. A business won’t be able to the response it deserves after a seemingly successful e-mail campaign. The reason is the data decay which will cause only 700 people to receive the mail among 1000 recipients. Double entries is another thing that is a waste of resources. No matter how much you try, you cannot get goo results without enriched data that ensures of the data quality.
Time saving
Time is money and every business must try to utilize this very resource as this one cannot be saved. Enriched data is created through an automation process. While manual data entry is time consuming and prone to mistakes, automated data enriching process is much faster without any mistakes. The automation process standardizes the values so that it can focus on the requirements of current set of problems. This process yields more impactful results and helps a business to accomplish goals much faster. Computer algorithm takes care of all these things and make sure that you get your desired details to fill in. There is no need of manual intervention. With enriched data at hand, a business can easily fill the gaps that are in its way of reaching out to people.