There are a variety of enrichment capabilities that can be applied to your data – from ensuring all date formats from different data sources are standardized to enabling automatic language translation and creating new dimensions from your data.
Examining how data enrichment makes existing data more accurate and valuable for analysis and decision making.
How does data enrichment help marketing teams?
Accurate, consistent, and customized data is essential for data-driven marketers to make the most effective optimization decisions to increase marketing ROI.
With that in mind, let’s look at how rich data can specifically help marketing teams.
Currency consistency
A common obstacle many global marketing teams face is currency inconsistency between different marketing platforms
Imagine this scenario: you want to quickly analyze your best performing definition further channels and campaigns, but some platforms measure spend and performance metrics in USD, some in GBP, and some in EUR. This makes making accurate comparisons and drawing meaningful insights about performance more challenging than it needs to be.
You could try to convert and standardize the currencies yourself before analyzing, but this is not only time-consuming, but also likely to be inaccurate since currency exchange rates are very volatile and fluctuate from day to day.
To help ensure data quality and accuracy, leading data integration tools definition further can automatically convert currencies based on the latest exchange rates, ensuring consistency across all marketing channels, simplifying comparisons, and reflecting the true effectiveness of marketing campaigns and marketing ROI.
Language Standardization
It is common for global businesses to load data from different regions, in different languages, into data destinations, which can lead to confusion and misunderstandings for centralized marketing teams.
Insisting that all global teams operate in a single language is not necessarily feasible, as it is important that employees in every local office and agency in every country are able to work in the language that is most natural, efficient and effective.