Avoid Information Overload
Making Sense of the Data
Once you have collected the relevant elements that are the foundation of your database, companies such as D&B and Little Rock, Ark.-based, customer and information management solutions provider Acxiom Corp. offer the tools to help marketers get the most out of their data. Acxiom, for example, offers data portrait analysis using InfoBase, its compiled consumer database.
“If you already have a population of customers … what we do with a portrait analysis is take that household data and match it against the 200-plus variables on InfoBase and look at the core characteristics of those [customers],” says Josh Herman, InfoBase product marketing leader for Acxiom. The next step, says Herman, is predictive modeling, which helps to identify the elements that are predictive of purchase behavior—again, this includes elements such as recency or purchase, age of head of household, and income.
D&B offers tools such as its Integration Manager solution, which global enterprise software provider Oracle recently has implemented to get a more up-to-date, complete and actionable view of its customers. Using Integration Manager in combination with its own E-Business Suite and Customer Data Hub, Oracle can better leverage its data to create more effective sales and marketing campaigns. Oracle’s customer and prospect information data records are automatically matched against D&B’s global B-to-B database and is assigned a D-U-N-S Number (Data Universal Numbering System), a unique nine-digit code that helps identify and link more than 100 million companies worldwide. As well, those Oracle records also are appended with any additional information from the D&B database, including corporate hierarchies, predictive indicators, and demographic information, such as number of employees, revenue and age of the business.
According to Oracle, the use of this process has resulted in as much as a 300 percent to 400 percent increase in ability to accurately perform market segmentation and a 30 percent reduction in duplicate records, thanks to the