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Purchasing Data for Your Business’s Marketing

It is very common these days for a business to purchase data on which important business decisions will be based. Business today is data-driven, and business success, or the lack thereof, can be shown to be directly related to the accuracy of the data used to make important business decisions. One very common use of purchased data is when a company is planning an expansion of its product range or services range, and needs to carry out market research in the consumer or business sector, regarding the long term feasibility and profitability of the proposed expansion. Is The Data You’re Using Fit For Purpose? It is vital for a company, when purchasing third party data, that the data obtained fit the purpose. Before purchasing data, you need do two things. Firstly, you to have an idea of the type of customer you are targeting with your expansion. Secondly, you need to question the quality of the proposed supplier of this data. Have you asked the necessary questions? The type of customer you are targeting will determine the type of data you need to acquire. Read More

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