Data enrichment solutions
Expand the potential of your data with powerful data enrichment
Create More Valuable Data
Data enrichment is the process of appending or otherwise enhancing data with relevant context from additional sources, improving the overall value, accuracy, and usability of the data. Through data enrichment, companies gain deeper insights into their customers’ preferences and behaviors to drive more informed decisions, optimize business processes, inspire product innovation, and personalize marketing messages. For example, a business might enrich the raw internal data collected directly from its audience or consumers with third-party data to gain a more complete picture of customer demographics, buying patterns, and more.
It may sound simple, but data enrichment is extremely complex and ever-growing challenge. To be useful to the organization, data must be acquired from one or more vendors, verified, processed into the required format, and linked to the appropriate internal data. And after initial use, the data must be continually updated – requiring it to again be verified, processed, and linked to internal data.
Precisely wants your focus to be on harnessing the power of data to transform your business – not on curating and processing that data. That’s why we offer expertly curated business, location, and consumer datasets that are fully interoperable with other Precisely software and data products and that can be quickly and easily linked to your internal data.
As the leader in data integrity, Precisely offers software and data solutions that build accuracy, consistency, and context in your data so you can trust it for confident business decisions.
Precisely streamlines the process of adding location context to business data by associating a unique and persistent identifier, called the PreciselyID, with every address. We all know how frequently postal addresses can change. New street names, alias street names, and postal/ZIP Codes constantly evolve – introducing inaccuracies in your data. The PreciselyID is persistent and takes into account aliases and older addresses, mapping these addresses to the same, unique PreciselyID.
The PreciselyID is appended to millions of data points today – linking an address to data on points of interest, property attributes, demographics, boundaries, and more. Performing a quick and straightforward lookup of a PreciselyID returns a wealth of data related to that specific geocoded point.
The unique and persistent nature of the PreciselyID facilitates seamless interoperability between datasets for data enrichment. Joining different datasets together with the PreciselyID empowers you to analyze an address from multiple perspectives and eliminates time-consuming data prep and spatial processing.
Just like a fingerprint removes ambiguity about a person’s identity, the PreciselyID resolves questions about an address. It provides an accurate and consistent view of a location and facilitates linking an address across systems or joining new datasets.
In today’s market, customer experience is dependent on having a complete, single view of the customer. That simply isn’t possible if location isn’t factored into the equation.
By building a single source of truth, or a “golden record” of customer addresses with detailed location attributes, businesses can create more dynamic customer profiles that contain up-to-date and relevant information.. In turn, consumer, business, and infrastructure data can be transformed into rich insights that enable organizations to provide better services, products, and experiences for their customers. Those same data enrichment solutions also ensure accurate and relevant data for the processes and workflows that feed information across the business.
We tend to think about customers in terms of demographics and psychographics. We segment them according to age, gender, income level, family status, and other factors. Historically, location has played a limited role; we might know where a person lives or works, but usually, that is the extent of knowledge regarding their location.
Data enrichment changes that. Location-based insight uncovers consumer behavior in a way that opens new opportunities, uncovers new revenue sources, and helps drive business growth. This combination of single customer view and dynamic insights enables organizations to deliver on expected customer experiences that:
- Better target and personalize customer interactions
- Drive more authentic brand engagement
- Seamlessly engage with customers and prospects across touchpoints
- Deliver better CX and gain customer loyalty
- Increase customer lifetime value
Learn how Precisely can help you better engage customers and prospects with data enrichment solutions to extend customer profiles and improve customer experience.
Data enrichment delivers value in virtually every industry you can imagine. Here are just a few examples of how data enrichment helps support unique, vertical use cases.
Retail: Deliver more targeted marketing and push notifications to customers when they’re within a specific boundary, location, or point of interest. Analyze competitors, identify target markets, and locate expansion opportunities.
Insurance: Add richness and location context to existing information about policyholders, insured properties, and more to improve underwriting accuracy, inform pricing decisions, and accurately assess risk.
Telecommunications: Build smarter geofences close to public points of interest by spatially enriching customer data records with parcel boundaries and building footprint data to offer coverage mapping for real-time mobile networks.
Financial Services: Append existing customer and merchant data with location intelligence and demographics data to deliver targeted services, improve anti-money laundering and fraud detection, and better understand customers, merchants, and ATM locations.
Real Estate: Offer a 360-degree view of real estate property with property data to better understand how residential and commercial real estate properties compare to properties in other locations.
Public Sector: Better manage the lifecycle of infrastructure assets and comply with legislative mandates while promoting a vision for a green, global, and connected future.
Learn more about data available from Precisely in the Precisely Data Guide. Find the data you need to gain insight, drive growth, and minimize risk.
As a leader in data integrity, Precisely understands the tremendous value that accurate location information offers. We also understand that enriching and cleansing data and making it fit-for-purpose is an extremely difficult and time-consuming task. That’s why selecting a strong partner for data enrichment solutions is so important.
Taking the step to outsource data enrichment needs, much like companies do with other critical functions like payroll, allows your business to concentrate on more strategic tasks while protecting its most valuable resources: its time and its people. Additionally, working with a trusted data partner grants faster and often less expensive access to higher quality data backed by industry and subject matter expertise.
To learn more about Precisely’s data enrichment solutions that help you enrich data with detailed attribution contact us.