Data enrichment solutions
Unlock the potential in your data with powerful data enrichment solutions
Create More Valuable Data
Data enrichment is the meaningful process of connecting different data sources to improve the overall value, accuracy, and usability of the data.
Precisely Data enrichment solutions enable businesses to combine raw internal data that a company collects directly from its audience or customers, with disparate data stored from other internal systems or third-party data from external sources. For many companies, that stored data can include text data, semi-structured and unstructured data including everything from service tickets, user reviews to social media posts and more traditional sources like ERP transactional data. All of which, is collected through different processes and sits and silos across the organization. Just one of the reasons data overload is a real thing. Data is everywhere and it is also very messy. It’s also really difficult and resource intensive to gather and maintain all of that data without help.
Luckily, answers to the biggest challenges around data are all pillars of Precisely’s strategic approach to deliver data and location excellence to our customers. Data enrichment solutions from Precisely help clients organize, enrich, report, and predict outcomes with trusted data. With it, companies gain deeper insights into their customers’ preferences and behaviors with accuracy and ease to make more informed decisions, optimize business processes, fuel product innovation, and personalize marketing messages for greater success.
Data enrichment helps organizations better manage business data and bring greater location context their analysis.
Precisely’s address datasets are appended with PreciselyID, a unique and persistent identifier. This ensures that address records are not counted as duplicates and maintains data integrity when address strings change. When a street name or postal code changes, the PreciselyID remains unique and persistent to avoid inaccuracies in analytics.
The PreciselyID is also used in data enrichment and geocoding solutions to quickly obtain contextual information about an address. Appended to millions of data points, the PreciselyID links an address to points of interest, property, demographic, boundary datasets and more. Performing a quick and simple 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 field empowers you to analyze an address from multiple perspectives and eliminates time-consuming spatial processing.
Just like a fingerprint removes ambiguity about a person’s identity, the PreciselyID resolves questions about a location. It provides an accurate and consistent view of a location and facilitates linking a location 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 about that person. In turn, that consumer, business, and infrastructure data can be transformed into rich insights that public and private organizations can use 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 it feeds 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. The ability to accurately locate where a consumer lives, works, and spends their time enables companies to engage with their customers more effectively and add dimension to their customer profiles. This 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 real-time insights enable 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 is not only critical when it comes to completing customer records but is also a requirement to expand on the information that businesses require to make informed decisions. Here are some examples of how leading industries use data enrichment solutions to gain greater insights for their specific 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 opportunities for expansion.
Insurance: Add richness and location context to existing information about policyholders, insured properties, and more to improve the accuracy of underwriting, inform pricing decisions and accurately assess risk.
Telecommunications: Build smarter geofences in proximity to public points of interest by spatially enriching customer data records with parcels 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. 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 to 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.
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 data enrichment solutions to help you enrich data with detailed attribution contact us.