Four Quick Ways That Data as a Service Can Improve Your Business
Just a few weeks ago at Informatica World, I got the opportunity to watch one of my colleagues, Justin Helmig – VP of Products for Data as a Service, speak about the value of our product line. Throughout the conversation, Justin focused on why Data as a Service is important to businesses today and offered some great tactical guidance to the crowd. One of the best pieces of Justin’s advice: you need to know your customers so that you can improve your relationship with them.
I’ve really thought about this since Justin’s presentation. This advice about knowing your customers and improving your customer’s experience is something that we often speak about at Data as a Service. (In fact, we’ve written an entire white paper on the subject.) While we frequently provide guidance on verifying the accuracy of your contact data, I thought — There are so many other great uses for Data as a Service that warrant discussion. Here are just a few ideas for you to take back to your own organization.
Superior communication – Connecting with customers can be hard. There are so many brands trying to reach the same individual in a variety of ways, from email, to phone, to mail, to social, and at some point, it all becomes noise. We go from checking our messages, to instantly deleting them without ever opening them. It’s simply the state that we’ve gotten to in our consumer lives. So how do brands make a deeper connection? How can you bridge the gap of sending your messages out, actually having them be read, and ensure that the consumer takes an action? The first step is that you have to make your communication relative. The format of batch and blast is in the past. Savvy marketers know this. The new age of engagement relies on a personal experience. When you don’t know enough about your customers, however, you need a solution to fill in the blanks for you. This is a great use of Data as a Service. Without asking your customers for more information about them, append the data from a trusted source. Whether it’s business data or consumer data, there is a solution to rounding out your customer knowledge without asking intrusive questions like, “What’s your income range?”
More accurate analytics – Prior to Informatica, I don’t know how many times in my career that I’ve been asked to produce some charts or perform some analysis, and when I turn to the data, it’s simply not there. Giant data holes can either back up my hypothesis or completely wreck it. There are so many products at Informatica that can be part of this solution for a customer. From Data Integration to Rev to Master Data Management, improving our customer data feels like our lifeblood. And when the data that you need doesn’t exist within your own data, using Data as a Service to connect with trusted third party data can be just the solution that you need to round out your analysis and make that next project flawless.
Better sales alignment – Spend time with sales management around the time of realignment, and you may get a fraction of an understanding of how stressful the process can be. From pre-existing relationships to personal preferences, it’s simply not an easy procedure. As an outsider, I have seen many methods that seemed to work, and many that failed. A trusted method for many companies is alignment based on geographic territory or based on industry. If you don’t have data that you can rely on, this entire process can fall apart and cause headaches and heartburn. Whether it’s accurate address and geographic data that needs verified and appended or it’s industry or vertical information, Data as a Service can be a quick and reliable solution to your territory assignment problems.
Mitigate risk – Purchasing departments often face the challenge of dealing with vendors that have been selected throughout the business but that they have never heard of in the past. Are they going to deliver? How is their credit? Can I rely on the vendor to supply parts for our next project? For those individuals that are in charge of selecting the best suppliers for you company, these are the questions that keep them up at night. Informatica Data as a Service can help save your company money by identifying vendors that could create risk to your business and pointing out the ones that you can trust. Due to our partnership with Dun & Bradstreet, Informatica Data as a Service can provide you with Supplier Risk Ratings through an easy to use API. This service delivers the data that you need, the second that you need it. (For more about this new partnership, go to this blog post.)
Whether we’re working with marketers to craft a better message, business operations to perform better analysis, sales leadership for flawless territory alignment, or with purchasing to mitigate the risk associate with suppliers, Informatica Data as a Service has a quick, cost effective solution that is sure to improve your business.