Benefits of Working With Updated Data Automatically

Updated Data

According to the figures provided by the Global Digital 2019 report prepared annually by We Are Social and Hootsuite, during 2018 the number of Internet users has grown by 9 %, to the rhythm of a new one every 11 seconds, which adds more of one million a day. With this increase, the number of active users of the network stands at 4,388 billion. This not only increases the volume of total data available but also the rate of modification.

In Spain, according to this report, Internet penetration now reaches 93% of the population, almost 43 million people. These users look for information when they browse, and many of them also share it, which helps to increase the amount of information available on any topic that we can imagine. This large volume of records increases , in the business world, the need to keep up-to-date information on everything relevant to the business.

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No doubt so much information, much of it freely accessible, is an opportunity when planning the business strategies of companies. But to be able to make the most of it, it is crucial to know how to manage it correctly. Be clear about what really interests us and know where these updated data are that we need to make the best business decisions. Sometimes it is easier to resort to services that allow us to keep up to date, automatically and without major effort, the most relevant data for our business and open new opportunities in the market, such as those that provide brands.

In a recent article by Dun & Bradstreet, Jessica Nussbaum, former director of Marketing, Partnerships and Alliances, stresses the importance of using reliable data to be sure that we handle updated and accurate information. And the help that this can give us with the known unknowns (what we know we do not know).

In the words of the author, the things we know we do not know are not easy to solve, but they are a constant in business. Having a database always updated, it becomes something alive that can provide us with answers to these questions.

Some examples provided by Nussbaum of known / unknowns would be:

  • This account could be huge. Why do not we get more income from it?
  • I spend a lot of time chasing bills. Why do some customers take so long to pay?
  • I am sure that other people influence purchasing decisions in the companies I work with, who are they?
  • This new client seems solid, can I approve your financing terms?
  • I think my supply chain is reliable, but how can I perform the stress tests?

And while this type of question is answered and business decisions are made, what complicates the equation is that companies are not static, people change positions, demands are presented, companies move, merge or close, and the financial circumstances change.

But we can reduce the uncertainties and risks that we assume by automatically updating ourcustomer database , while adding new contacts that are of interest to the business we develop. The eInforma API, for example, allows you to search for companies and incorporate, directly into your CRM or ERP, contact information and activity of the company. And the data it provides are safe and reliable, since they come from official sources and are contrasted.

Working with the most current information will give us an advantage over the rest of our competitors , and allow us to react more quickly to changes that occur in the market. Because as Albert Einstein said: “Know where to find the information and how to use it. That is the secret of success”.