Experian, a global business solutions company, today announced that it has expanded the matching capabilities of its global Customer Data Integration service, Truvue, to include business data. The new enhancement, called Truvue Business ID, enables companies that market to both consumers and businesses to cleanse and integrate all their information through a single process. With Truvue Business ID marketers gain a better understanding of their data assets for more effective customer contact.
The expanded Truvue service assigns a persistent Business ID to unique business records within an enterprises' database. With the ID in place, companies can integrate information across multiple divisions, develop a historical and unified view of business relationships and improve marketing efforts.
As a result of Truvue Business ID, marketing managers are able to consistently match business records, regardless of name variation. Business records are subject to the same input discrepancies that affect consumer records and which Truvue corrects. With Truvue Business ID companies can more precisely target their messages and offerings. This translates into increased loyalty, more efficient and productive marketing campaigns, lower costs and diminished risks.
"We estimate that more than 80 percent of the companies with a consumer database also have business records within the same database," said Chandos Quill, vice president of marketing for Experian Marketing Services. "Based on our experience of providing data evaluation and testing for businesses, the evidence is very strong that most companies market to a mix of consumers and businesses. With the enhancement of business matching to Truvue, companies can now integrate and manage both business and consumer data persistently through a seamless service."
Records matched by Truvue are verified through Experian's reference repository. To support the new service, Experian has merged its consumer and business reference databases. The combined repository includes data from more than 3,200 sources, including 14 million records from Experian's National Business Database.
Through Truvue, businesses can integrate information from disparate corporate databases and multiple channels to achieve a single view of each customer. The service derives from the core technology that Experian uses to integrate and standardize its own consumer and business data from thousands of sources to meet stringent demands of accuracy, timeliness and privacy.
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