As is well known, for every company today it is essential to develop a corporate database of constantly updated information.

How to develop a complete corporate database: the pros of data enrichment

Possessing a wealth of quality information is a strategic lever of primary importance for many reasons. Here are some of them:

  • To gain a competitive advantage over its competitors, thanks to its ability to anticipate consumption trends, sales volumes, import-export trends and much more.
  • Improve products and services, thanks to the collection of data able to reflect the characteristics of its customers, their preferences and the evolution over time of their attitude towards our brand.
  • Carefully study the reference market, identifying opportunities and risks related to its activity.

Above all in a globalised context, the creation of a corporate database is crucial: proof of this is the increasingly rapid evolution of the technological context, with the continuous succession of new platforms dedicated to communication and the launch of highly innovative solutions, capable of revolutionising the industrial production and trade scenario.

The design of tools capable of gathering the scope of these transformations and transforming them into useful resources for the enterprise is not an immediate activity: SMEs may encounter many difficulties when dealing with the development of a complete data strategy, and in particular with data enrichment.

This expression refers to the enrichment of the information assets already owned by a company, through the use of data analysis processes: the history of its activity is undoubtedly an important starting point, but sometimes it is not enough.

Alongside customer data collected through traditional tools such as sales consulting, there are also the insights that a company can obtain from its digital channels: social media, e-mail marketing, search engine sponsorship are now the prerogative of small and medium enterprises, but often the information obtained from these sources must be integrated in order to obtain a real competitive advantage.

One of the main limitations of these solutions is in fact the lack of completeness of the information: the lack of complete data hinders the 360° profiling of its clients and the complete study of its target market, precluding opportunities to improve its products and services.

Enrich is the Matchplat service created for this purpose: a solution within the reach of SMEs to integrate, expand and enhance the information owned by their company, so as to review their marketing strategies and identify new business opportunities.

The use of Artificial Intelligence algorithms applied to the Web and official sources – public and private – allows us to find always updated data, thus overcoming the limits of traditional providers operating in the Big Data market: the obsolescence of information, the slowness of research and the high average costs that could discourage SMEs.

We have no limits as regards the type of information available: from the size of the production plants to the personal contacts of a company’s employees, passing through the machinery used by your competitors and the addresses of the ideal resellers for your products.

These and many other elements can be translated into knowledge capable of revolutionising the decision-making processes of all companies: updating one’s own corporate database thus proves to be a winning way of expanding the set of information already possessed, proceeding beyond the limits that often characterise the history of one’s own activities.

In fact, it is not uncommon to find data that is no longer reliable: in a scenario where companies cannot afford to waste time and resources, having clear and up-to-date elements is fundamental.

An example?

The data possessed by a B2B company regarding its competitors – however wide and varied – may not be exhaustive: the company may not be aware of possible changes adopted by its main competitor, which may now have activated new distribution channels, making it more difficult for our brand to be present in new markets.

Data enrichment is the tool to meet this knowledge requirement: a means to intercept market changes and predict possible moves by competitors. An increasingly necessary activity also for SMEs, where the need for complete data passes through dynamic information acquisition methods, really able to reflect the evolution of the economic scenario and the peculiarities of each sector.