What Is Data Enrichment?
Data Enrichment is the process of enhancing existing data by adding relevant information from internal or external sources. For example, appending demographic data to customer records. It involves collecting, cleansing, and integrating data from multiple sources to create a more comprehensive view of the data.
Why Is Data Enrichment important?
Data Enrichment allows for better decision making by providing a more complete and accurate understanding of data. With enriched data, businesses can gain insights into customer behavior and preferences, identify potential markets and target audiences, and make informed business decisions.
Moreover, as the amount of available data continues to grow exponentially, it becomes increasingly difficult to extract meaningful information without enrichment. By enriching their data, organizations can also improve their overall efficiency and productivity.