Data is the new oil, as the saying goes. It is the lifeblood of the digital era. It is the tool that drives decision-making in business. More importantly, it is the tool for delivering meaningful business outcomes. The value of data lies in its ability to reveal patterns, insights and market trends. This valuable information allows firms to generate high-quality leads that could turn into loyal customers.
However, collecting data is a painstaking process as companies have to find relevant data and analyse its credibility, hoping it will be useful. Luckily, that’s why data-selling companies come in.
What Is a Data Selling Company?
It is an organisation that collects, aggregates and sells relevant data to businesses for marketing and research purposes. These companies gather the data from various sources, curate it then process the data to create valuable datasets pivotal for digital demand generation. The data takes various forms, including:
- Aggregate data
- Demographic data
- Geospatial data
- Consumer insights
- Market research data
Advantages of Data from Data Selling Companies
Diverse and comprehensive data
In the digital landscape, getting comprehensive data is a challenge. Data sources’ sheer volume and complexity make it hard for most businesses to collect cohesive data with proper insights. Data selling companies specialise in collecting, curating and aggregating data from multiple sources. These companies often offer a one-stop solution to access comprehensive and diverse datasets.
Data Quality and Accuracy
Poor data quality directly leads to misguided decisions and wasted resources. Consecutively, obtaining data from various sources and validating its accuracy is time-consuming. Data-selling companies invest in resources and expertise to bolster data cleansing, validation and verification processes.
This process helps to filter out inaccuracies, inconsistency and outdated information from the datasets. These firms also adhere to strict data quality standards, which ensure data sold is reliable and accurate.
Over time, businesses need to grow and scale operations. As companies expand, their need for more diverse data and real-time analytics grows. While scaling up, in-house data management may strain existing infrastructure, and data-selling companies offer scalable data access. It allows businesses to access the right data cost-effectively and stay agile to the changing data requirement.
Having data is not enough. Being able to analyse the data and derive meaningful insights is what makes a difference. Data-selling companies are an excellent alternative to having a dedicated team that may struggle to harness the data due to a lack of expertise.
These firms employ experienced data scientists, analysts and professionals who are well-versed in data processing, analysis and interpretation. It helps businesses bridge the gap between raw data and meaningful insights.
Access to Specialised Data
Obtaining comprehensive insights into unique segments requires extensive research and massive resources. A data-selling company can provide data that focuses on a specific niche. These companies curate and compile datasets catering to businesses’ unique data needs. It makes it possible to access valuable targeted information that is not available anywhere else.
Getting data from a reliable data-selling company can enhance a business’s decision-making. It can also give a business a competitive advantage because of the well-targeted data that is reliable and up-to-date.