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How Businesses Can Combine BatchData with Second-Party Data to Better Understand Customers

how businesses can combine BatchData with second-party data to better understand customers

Data integration and supplementation is a crucial component of data strategy. With more companies than ever shifting to a data-centric approach, there’s a continuous and growing need to combine and share collected data. Data integration involves consolidating information from different data sources into one dataset. The goal of data integration is to provide end-users with consistent and easy delivery and access of data throughout the structure types and subjects, and to fulfill the data requirements needs of every business process and application. 

Utilizing relevant second-party data will allow you to better position yourself to benefit from data sources you already have access to. With the right data at your disposal, you can build a strategy that benefits your business and leads to a better understanding of your customer base. Here are some of the ways you can utilize data integration to better understand your customers and improve their experience.

Build integrity and consistency into your insights

Verification of data, such as address and phone data, helps ensure your data is valid and correct. If you utilize only one source for data and don’t have a strong data integration strategy, you become susceptible to more mistakes and bias due to the limited pool of data. 

One example of this could be social media data. Users on some social networks may generally be younger with a more progressive mindset. But, if you research your market relying on social network data alone, it could lead to bias. You will miss out on the opportunity to discover the motivations and mindset of individuals who do not use social platforms as much. 

Therefore, it is important for businesses to triangulate their data from other sources to minimize bias, ensure improved representation and consistency throughout their insights. From online shopping behavior to in-store purchase habits – the possibilities of consumption trends you can discover if you utilize several data sources far exceed what you can do with a single source.

Add layers to baseline data to gain more insight

Once you have all the necessary data available in formats that’s able to be used with multiple applications, you’re enabled to utilize it. An initial inventory of your data may return underwhelming odds of extracting any value, but it may sometimes require looking at it with a creative eye. Businesses often realize that by combining secondary data with their own data sources they can gleen value from it. 

The hidden value of data cannot be questioned. People who understand this early enough to unlock all the important information hidden in data can ensure their business has a significant advantage over their competition. For instance, if you have thousands of addresses you can use geocoding to look at the spatial relationships and understand things like customer density. You can combine things like geocoding, address verification, and property data to ensure you are sending direct mail to the right people or understand which regions you should be focusing on more.

Add complex processing to sort and filter baseline data for different applications

Depending on what you may be trying to do with your data, you may require data in various formats. Perhaps you’re running an analysis on geographic focus areas or honing in to learn more about specific user segments. When this complex processing is needed, services like BatchData allow you to build pipelines for targeted use cases of all the information. 

A diverse range of data sources will ensure granularity and flexibility in your analysis. More data sources will ensure you get a

  • Full overview of your customers, market, competition, and more.
  • The granular view will allow you to focus on particular business areas, such as customer satisfaction, online sales, supply chain, etc. 

This enables you to get a solid 360 degree perspective of the situation.

Conclusion

A lot of organizations these days are utilizing data integration and hybridisation to analyze their data holistically and ensure better insights. If you want to get the full picture of your customers, it is important to gather insights from various sources and evaluate them together to ensure a more holistic analysis. 

BatchData helps businesses achieve next-level insights by providing data in an ingestible format to leverage insights. See how we can help by contacting us today.

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Austin Proctor

Austin Proctor

Technical Writing Manager @ BatchData

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