Based in California, the client is a B2B data aggregator who provides comprehensive business data to companies of all sizes. From early-stage startups to Fortune 1000 companies. They allow companies to tap into competition and identify new prospects and opportunities. As well as get company funding data and uncover startup trends.
The B2B Data Management Company approached Hitech wanting to strengthen their 50-million record database. Primarily, they were looking to make it more comprehensive and weed out any data decay issues. While it was important to keep adding new company profiles and scale up the database, it was equally important to keep the existing database continuously validated and up to date.
Since company data changes at incredible speeds, regardless of sector or industry, the client was suffering from rapid data decay. This meant the huge database of corporate information was becoming outdated and quickly. The client was struggling to maintain the ongoing data validation, update and enrichment needed at an equally fast pace.
In parallel, the client wanted to source new company profiles to grow their database. The new data needed to include public and private contacts from multiple different channels. This included listed, unlisted, traditional and nontraditional sources. Each source delivered data in a different format, which resulted in an unstructured, irregular collection of records. As such, the client wanted all data, new and existing, to be standardised in a regular format.
Having reviewed the challenges faced by the client, Hitech decided to put in place a two-pronged approach. Firstly, Hitech cleansed the existing database and acquired new company profiles. The database was cleansed through enriching current profiles with new data points, confirming existing details and removing any outdated information. New data was then obtained from multiple sources to increase the database coverage. All data went through the same thorough review process to ensure its validity. Secondly, Hitech continued to update the database on an ongoing basis, enriching it with extra information whenever possible. Further cleansing and de-duplication of the database was also carried out at regular intervals.
To achieve this, Hitech developed a number of robust and extensive processes including:
Hitech successfully delivered an extensive and well-orchestrated validation and data enrichment project. The result was a database which was structured, standardised and cleansed ready for further use. This ensured the client had up to date, accurate and comprehensive data to work with. The ongoing addition and validation of data further reduced the rate of data decay.
As a result of Hitech’s efforts, the client has benefited from: