In this era of ‘big data’ where businesses are collecting and searching for facts and statistics regarding sales, social media, prospects, etc., it is essential to gather true and accurate information. As this data helps companies make decisions in various aspects of business based on the conclusions drawn from the analytics. Not just that, making effective and efficient use of information can be the key to the growth and success of the business, giving you a competitive edge over other companies.
Yet, there are many instances where companies couldn’t gain the maximum advantage from databases. This often happens because the firm’s database management is not fine-tuned and in sync with the company’s business objectives. That’s where data optimization comes to the rescue.
What is Data Optimization?
Data optimisation involves designing and structuring a database to meet the business needs and goals, along with removing inconsistencies, inaccuracies, anomalies and redundant information. Such kind of inefficient data makes it unnecessarily difficult to retrieve and access critical information in a timely, orderly and extensive manner. So, the process of data optimization helps access, organise, and cleanse data with the use of sophisticated tools. This boosts the swiftness and comprehensiveness with which apt information can be obtained, scrutinised and put to use. After that, the data is ready to be used, providing companies significant benefits.
Benefits of Data Optimization in Business
To understand the power of data, let’s have a look at some of the ways in which data optimization helps businesses.
- Decision Making: Since data optimization relies on automated tools, there are no chances of errors. This avoids unnecessary friction in the business processes and gives you accurate analytics from which you draw precise conclusions and make rational, better and smart decisions. From extracting and approaching prospects to fruitful sales conversations, all the processes are smoothened out.
- Increase in Efficiency: When the data is reliable and accurate, back and forth is reduced, every working professional’s productivity increases, which enhances the efficiency of the entire organisation. This also leads to an increase in sales and ROI, which aids in expanding your business and exploration of new markets.
- Improve & Growth: Since all the processes are precisely organised and carefully recorded from the foundation, the firm experiences continuous improvement and growth. Furthermore, a well-organized work environment fosters new ideas, expansion strategies and innovation in the business. It also allows individuals to collaborate with other departments, and share and discuss the best strategy by conducting a SWOT analysis through data analytics.
Where can you Find the Best Data Optimization Tool?
If you want to make your business data actionable and empower your sales and marketing, Dun & Bradstreet (D&B) has the best data optimization tool. Their data enrichment tool called D&B Optimizer identifies, cleanses and adds firmographic intelligence to your database for improving the quality of your data. In addition, D&B Optimizer integrates seamlessly into your enterprise systems, which ensures smooth functioning of your business. So, get consistent and reliable data today by signing up for D&B Optimizer for your B2B business.
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