What Makes Data Reliable and Valuable?
Understand the importance of reliable b2b data and data accuracy in the business world. Get human verified b2b data from InFynd’s database
Underestimating data in the business world is like driving a car without GPS. B2B data is not limited to one company's department but the whole economy. It is everything today, whether it's making spot-on strategies, critical business choices, or even fine-tuning team performance, it's all about the data.
What does that mean? Your data has to be extremely reliable and valuable.
Businesses should only use such b2b data. Well, that is a bold statement. When data has that much significance, then nobody can afford to have the wrong information on their database.
When you build a prospecting list, you need details about the companies and prospects’ contact information, hence, b2b contact data. And if the contact data is bad, then the foundation of your business will be at stack.
Wrong data can cause 52% of your company's investment to be lost and ruin your brand reputation. Now you know why you need reliable b2b data for your business. Let’s see what makes data reliable and valuable.
Accuracy
The first and foremost factor is to decide the data quality. Is the data correct?
If your data is inaccurate, then the decisions and strategies derived from that data will also have problems. To ensure b2b data accuracy, consider joining hands with reputable sales intelligence platforms rather than buying it from unknown sources. Always go for a data provider who provides human-verified b2b data as it proved to be 98% accurate.
Completeness
After verifying the accuracy of the data, you have to make sure that every detail is there. Complete data is as important as accurate data. Why? Imagine you find a perfect prospect for your business, moving on only to find out there is no direct contact information. Nothing more frustrating than leaving a potential prospect because of incomplete contact data. The completeness of the data depends on your requirements. Being clear about your needs will give you clarity about what kind of data you require.
Freshness
No data is going to stay accurate forever, you need to enrich your database time and again. B2B databases decay at a rate of 2.1% per month if stayed that way, in a year quarter of your database would be rotten. So, what can you do? Enrich your data regularly to keep a fresh tab of data. You can rely on the best b2b data providers in the market for fresh data or connect your CRM with top data intelligence platforms. InFynd’s data-providing service in the UK proved to be a revolution in the B2B data intelligence industry, check out our database.
Compliance
Now that you have accurate, up-to-date, and complete data, is that enough to proceed?
Not quite – there's one more critical factor: compliance. Data is subject to legal regulations and privacy protection laws worldwide, such as CCPA in California and GDPR in Europe. Compliance can be complex, so it's advisable to obtain data from sources that are already compliant. At InFynd, we ensure that all b2b contact data is GDPR and CTPS-compliant before it's delivered to you.
Conclusion
Ensuring the reliability and value of the data is highly important before using it for your business. So, the next time you join hands with a b2b data provider for your data needs, make sure the data has the above-mentioned qualities. If you want a reliable database that’s compliant with the data privacy laws, you should give InFynd a try.
