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Companies are collecting vast amount of data to gain insight from it to make better decisions and enhance customer experience. If the quality of data collected is poor, no matter how powerful the data analytics is, businesses cannot gain the expected benefits from it. To achieve maximum benefits, data needs to be cleaned, organized, and refined with additional information or intelligence. Data enrichment goes beyond correcting errors and improving accuracy. It unveils the relationships, clusters, semantic ontologies in the data to glean new insight about customers, suppliers and peer businesses. This paper discusses the issues and challenges of business data enrichment. It provides insight into processes involved in data enrichment and methods for selecting data providers. The paper also explains semantic data enrichment that improves the usability and value of unstructured data. Finally, the paper presents the challenges in data enrichment that need to be addressed. |
