The Value of External Data
As organizations become more sophisticated in the use of data, the integration of external data grows in importance and frequency. Our Analytics and Data Benchmark Research shows that 9 in ten (90%) participants consider external data to be important for their organization’s analytic efforts.
External data helps provide a comprehensive picture of an organization’s customers, suppliers, partners and even competitors. Several sources are commonly used, including location, economic, social media, demographic, government, market and weather data. Our research shows that more than one-half (56%) of organizations incorporate three or more external sources in data processes.