What is database enrichment?
Databases are often not regularly updated, which quickly makes them obsolete and difficult to use. In such cases, the best solution is to enrich them by integrating new sources of information: data enrichment.
Data enrichment refers to the process of supplementing an internal database by adding new data from external sources. For example, a prospects database containing only two columns (company name and SIREN number) can be enriched thanks to:
- Legal data: postal address, APE activity code, official BODACC announcements.
- Financial and economic data: turnover, balance sheet, number of employees, brands owned.
- Digital information: websites operated, profiles on social networks.
- Qualified contacts: surnames, first names, positions, and e-mail addresses of key people (CEO, sales manager, etc.).
Enriching the database improves the quality and relevance of available information, providing better opportunities to target and interact with prospects and customers. By adding this new data, companies can refine their segmentation, personalize their communications and make more informed strategic decisions.
How is it updated?
The Kompass database lists 20 million companies in the USA and 60 million worldwide. Such a mass of information means that the database must be updated regularly. This guarantees the user who uses the EasyBusiness prospecting solution or who uses Kompass for the management of his direct marketing campaigns, to rely on valid and reliable data.
The Kompass database is updated through a combination of automated and human methods.
1. Daily treatment
Legal data comes from INPI (National Institute of Industrial Property) and INSEE (National Institute of Statistics and Economic Studies), two French public bodies that collect and disseminate legal data on companies. These two organizations allow us to follow the creations and failures of companies on a daily basis.
Kompass has established a partnership with several companies, each of which contributes in a different way to data processing. For example, CreditSafe is a private multinational data provider of corporate credit scores and online credit report information, with over 365 million company reports in France.
2. Human collection
This method of updating data is the responsibility of the Kompass call center and sales department. The collection of information is done either by telephone or in person. Each year, 200,000 calls are made to businesses for daily updates.
3. Tailor-made crawling
Custom crawling is a data collection technique that involves scraping specific websites to extract precise and targeted information. This data collection technique allows us to select specific information from targeted websites.
Qwam, a Kompass partner, feeds the Kompass database of appointments of managers of French companies using an engine that crawls 8,000 web sources. Thanks to this collaboration, Kompass is able to change the name, status, and email address of certain managers every day.
Our data scientist team applies data collection, processing, and analysis techniques to identify trends, patterns, and hidden information that can then be used by our clients for their prospecting/marketing campaigns.
5. Crowd Sourcing
Kompass.com site users can also contribute to the Kompass database by adding information about their company or by reporting errors or inaccuracies in existing profiles.
The database is at the heart of our solutions
In conclusion, all this upstream work allows the user to exploit a qualified database, rich in relevant information. Whether for the purpose of selling or buying a product or carrying out market research, the professional has access to a substantial amount of global data, including 32 million telephone numbers, 14 million BtoB email addresses, and the names of 52 million operational managers. Check out the video below to learn about the highlights of what our database can do for you.
Kompass offers a plethora of services to help your business unlock its potential and reach data-driven growth. Take our quiz to find the Kompass solution that fits your business needs, or contact us to start with Kompass today!