A Data Management Model That Works In Our Digital Reality
With data all around us, the digitization of business is our reality. This onslaught of data is forcing companies to get their arms around it to remain competitive. Aside from the volume, it’s also about the multiple types of data and the speed at which it comes into an organization.
The question is: How do businesses make sense of data and use it to their advantage?
My business partner Steve Vitello, Senior Solutions Expert here at Dun & Bradstreet, and I addressed that question in a recent webinar: Easy Credit and Data Management with Dun & Bradstreet – in NetSuite.
Take a look at these data trend stats. Maybe you can relate to some of them:
So back to the crux of the matter - how can you best use data to see a full picture of the customers, prospects and suppliers you should be spending the most time with?
The answer is: Easy access to the right business insights.
At D&B, we have aligned to this reality – relationships drive growth. And in today’s digital age, data drives relationships.
Real value is created when your data is:
- Unified with trusted third-party data about your business relationships – and
- Integrated into your native workflow systems for insights and discovery
So it only made sense to partner in developing solutions that offer direct access to D&B’s B2B data and analytics within NetSuite to streamline customers’ data management and credit-decisioning needs. Here’s why:
Data management helps you know and grow.
Long-term success (growth) depends on what you know about and do with your customers, prospects, suppliers and partners to help all succeed.
*based on a Dun & Bradstreet study
When you establish and maintain unique, clean and enriched master data records about your important business relationships all in one centralized platform, you are well positioned to make the best business decisions.
Credit decisioning helps you balance opportunity and risk.
Taking a finance-led, data management approach to your company’s growth mandate while maintaining standards helps increase cash flow and profit margins, manage risk, automate credit processes and ensure compliance due diligence.
When you apply trusted, third-party business data to your credit policies, you make better, faster credit decisions on new and existing applications. At the same time, you become a trusted partner to your sales organization to bring more new customers on and grow share of wallet with existing customers.
Big data isn’t a trend anymore – it’s a reality businesses face every day. It is doubling in size every two years, and by 2020, the data we create and copy annually – will reach 44 zettabytes, or 44 trillion gigabytes. Those who evolve their data management models, with a keen eye on growing their relationships profitably, have the best chance of remaining competitive in our digital, global, social and mobile world.
Dun & Bradstreet and NetSuite are partners who provide NetSuite customers with direct access to relevant B2B data to inform better, faster decision making across finance, procurement, sales, marketing and more. Learn more here.