Enriching data: How to in 2022?
Over the last few years, data has begun to play a significant role in many business processes and now, it is one of the most valuable assets in organizations. That doesn’t only apply to customer data, but also to product data. With accurate product data, many business processes can be performed in a cost-saving and more efficient manner. To open up doors to such cost-saving and efficient practices, however, there is a need for accurate data management. In order to achieve this, your product data needs to be of sufficient quality and quantity.
Why would I enrich my data?
Enriching data means that you’re adding value to existing data. By adding information to existing product data, more product features can be displayed, and richer product descriptions can be provided. By this, your customers will have more information on the concerning product. With more information, they are able to make a better judgment whether or not this particular product is what they are looking for. By providing them with more information, you contribute to an improved customer experience, which is the first benefit of enriched product data. An optimized customer experience will, in turn, contribute to a higher conversion rate and a higher revenue. That is something that every organization wants to achieve.
The importance of consistency in product data
Many retailers and wholesalers that have a wide product range, possess unstructured data on all of these products. Unstructured data is a major problem: when your product descriptions are inconsistent, you may not appear in search engines like Google and your findability may be weak. That is why successful e-commerce organizations understand the importance of consistent and organized product data: when product descriptions need to be updated, these organizations know that it’s best to have one organized database where descriptions and features can be altered. With such a centralized database, all employees in an organization are able to access the data which results in consistent search terms.
How to enrich your data in 2022?
Now that the need for a qualitative database has been stated, it’s time to elaborate on how to achieve such an organized data model. Firstly, it can be argued that the process of enriching data could be performed manually. However, for organizations with a huge product range, this is almost unfeasible: enriching product data for many products is a monotonous job and it’s pretty sensitive for mistakes as well. Moreover, it is extremely time-consuming and therefore goes along with many costs. That is why automating the process of data enrichment could potentially be a good alternative.
Automated data enrichment
In order to save valuable costs and reduce the number of manhours, the process of data enrichment could be automated. In this way, you let algorithms do the hard work for you while you just sit back and look how your data is enriched. A tool that can do this for you is PowerImprove.ai, which has a user-friendly interface allowing everyone to use it. You can provide the smart tool with your preferred extraction sources, whether this is a PDF, web page, image, or text file. After that, an algorithm is tailored in order to extract data from this particular source in the most accurate way. After the algorithm has extracted all the data from your provided file, a file is outputted in which you can find all of the scraped data in an organized way. By this, many manhours are saved that otherwise would be spent on manually performing this process, which is extremely inefficient.
Some business processes are way too inefficient to perform manually. Adapt to the future and start automating with PowerImprove.ai. Do you want to know what other possibilities there are with automation? Then take a look at all of our PowerSuite solutions!