Data Enrichment is a way to ensure your customer and company data is richer and more detailed. You can use this method together with web scraping and your original database. It means you have more accurate information. You can also create a complete database and customer relation records by combining data enrichment with tools like a Google Image Search API.

Below, we look at the definition of data enrichment, how you use it, and the benefits it brings to your company.

What is Data Enrichment?

Data enrichment is when you support your existing customer information with external sources and information. As a company, you’ll have an existing database of your customers, including details like their contact information, names, and more.

Often, this data is in a raw format. The enriched information is more easily readable and understandable than the unformatted data. You can use advanced web scraping tools to supplement your existing data by scraping more information related to your customer base.

Web scraping refers to gathering public information from online sources. This open data is available to anyone, and you can find it with a simple online search. However, using these tools instead of manually doing it means you get the data faster. It’s accurate facts collected from customer feedback, competition sites, and other online sources. There are two main types we discuss below: demographic and geographical information.

Demographic Data

This information enrichment means adding new demographic specifications to your customer database. Say you only have your customers’ names and emails. This will add information like their marital status, income level, number of kids, and car type. With this type of data, you can better understand your clients. That means you can provide personalized offers. It also means you better understand the product type or service they might need.

Geographical Data

Geographical specifications refer to information like where the customers live, cities near them, and mapping insights. These specifications are excellent information if you’re looking to open a new store and want to see which location is ideal and near your clients. It’s also suited to discovering any niches in the area your clients live or whether there’ll be geo-restrictions to keep in mind if you want to expand your market.

Benefits of Data Enrichment

This process brings many benefits and is an exceptional tool any company should use. However, we know you want examples, so we looked at some of the most vital benefits it brings you.

Valuable Information

As this process enriches and makes your information more detailed, you can enjoy more valuable data. Your customer database can provide all required information and contains accurate and current analytics. It allows you to gain deeper insights into your customers’ lives, which means understanding them better.

Personalized Messages

A direct consequence of the above benefit is that you can now create personalized offers. We all know that targeted marketing works better than generic tactics. With a richer database, you can better organize your deals, services, and offers to fit your client’s needs. It can also ensure that email campaigns are more successful and create loyal customers who care about the brand.

Golden Customer Record

The golden customer record refers to a database that provides all the details you could want about your client. It creates a holistic and complete image of who your client is, what they want and need, and how best to approach them. Any company benefits from knowing more about its customers, and data enrichment is one way to ensure you have all the required information at your disposal.

Optimize Company Processes

Using geographical analytics can help improve your supply chain, which means you can get the products or services to clients faster. Optimizing your supply chain and processes benefits a delivery company, retail store, service provider, or other businesses.

Accurate Risk Assessment

This benefit suits insurance companies more. However, it can also help other businesses understand the risks of specific clients or locations. It’s better to know the dependents your client has, the reliability of their car, or other factors.

You can also determine whether a store location is a safe area in order to make informed decisions. This demographic and geographical information can enrich your understanding of the risks. This lets you better implement changes or take on new clients.

Enrich Your Company

The use of data enrichment services is growing in the industry, as it provides only benefits to businesses. Understanding your customers is the first step to creating a successful business plan, and it can even revive a failing business. Combined with tools like the Google Image Search API that allow you to locate image URLs and monitor your brand images, you’ll have endless possibilities for growing your business using enriched data.