What is data standardization? Let’s find out more about the importance of data standardization for B2B aggregators, its benefits, steps implemented towards data standardization and the tools used.
In data standardization, data is transformed or manipulated to a consistent format. In business, data is likely to be stored in a variety of disparate systems with different rules and formats.
If it’s not organized then your organization’s data can be misinterpreted and misunderstandings might result from these small differences. When data is inconsistent, trust is made, second-guessing occurs, and time is lost checking whether conclusions made from that data are correct.
If you’re working in a data-driven company, you’d be better off using the data rather than manually verifying and updating it. As a result of standardization, manual checks can be eliminated. It is easier to focus on using your data if you have the right data standardization tools at your disposal.
On a day to day basis, business contacts and data change at an incredible speed resulting in data decay, making data standardization critical for b2B data aggregators. Data standardization is the key to a comprehensive, accurate and up to date B2B database.
It is said that on an average business loses around 12% of their revenue due to bad data. Apart from revenue loss, bad data results in poor marketing strategies, misguided communications, and weak CRM and automation processes.
In simple terms, data standardization is a data processing technique that converts all the sourced data into a common, easy-to-understand format:
You have to define your standards by having a set of rules for each field of your database, based on your business requirements. In case you are using separate systems, make sure you have the same language across platforms.
Know your Data: Being aware of data auditing is an important step before you begin your data standardization. In a practice called data stewardship, a company can organize, collect, audit and ensure data quality. This process makes sure that the data is trusted and usable.
Know your source: Quality source will make it easier for you to standardize your data. Once you have collected all the data, make sure that the integration process itself involves standardization.
Automate the Process: B2B database enterprises require some form of autopilot to get through their vasy stored data, Automatic segmentation and routing or automatic merging of duplicates allow for smooth data standardization.
infoAnalytica converts business contacts and company data to a common format to empower aggregators to have a comprehensive, accurate and up to date B2B database. We provide technology enabled data standardization services for enterprises and e-commerce giants like Amazon, Flipkart, eBay, etc.
You can reach us at firstname.lastname@example.org to give it a try!
Market Analysis provide insight into planning marketing strategies for an industry offering. Individual pieces of a full Market Analysis such as market sizing can help in fundamental decision-making, but will not guide the overall market
In today’s world CMOs come with a standard playbook to monitor, maintain and analyze the metrics, analytics and spreadsheets. After the covid 19, online presence has made marketing far more measurable and accountable to CMOs. This has
ABM is a hot topic these days, and for good reason. It’s the most effective way to show your ads to people who are already interested in your product or service. But how do you know if it’s actually working? You need to measure the impact of your