Artificial intelligence is now an essential technology for businesses. And when it is used for data-driven functions, it boosts the value of data by enhancing and making it relevant for companies.
According to a study conducted by Accenture in AI: Built to Scale, many leading organizations have recognized the importance of their data by scaling AI. It also says ninety percent of the data in the world was created in the past ten years through AI. And by 2025, one-hundred and seventy-five zettabytes of data will be created globally. Signifying the importance of data enhancement through AI, the study also disclosed that 84% of C-suite executives believe in leveraging artificial intelligence (AI) to achieve their growth objectives through data.
Today, marketers leverage personalized services to provide customers with their desired solutions. To build personalized strategies, they need vast data to derive insights to aid strategies for customer conversions. Practicing data-driven activities is now critical for marketers to boost business growth using a solution-giving approach to provide exceptional customer experience (CX).
Despite this, many marketers still end up with unstructured or unhygienic data. This improper data generation is a challenge that has to be addressed on priority. As data enhancement becomes critical, marketing leaders must find ways to enhance and use data most efficiently.
For the way ahead,
artificial intelligence is the most suitable technology business leaders are using for data enhancement. AI has made data a valuable asset to boost revenue.
Important ways AI enhances data
Prioritized List of Highest-Value Leads
Marketers have historically operated data independently. This was probably why data has been used responsibly but mostly irrelevantly. Fortunately, AI has minimized much hard work and challenges through data mining and sorting to find relevant data for businesses. Using AI, market leaders can rapidly prioritize a list of valuable data that brings valuable business leads. Running AI through data helps sort data around segments organizations must have set aligned to the business. The algorithms in AI help determine essential data on one side and eliminates the rest on the other.
The capability of artificial intelligence to enhance data allows for improved decision-making, allowing marketing leaders to prioritize the most valuable leads and optimize for various marketing purposes. The foundation of customer trust lies in marketers successfully delivering on-point services or solutions they look for. And this is possible only when marketers have enriched data with the help of AI on the table.
Improved Data Quality
Although many organizations are conscious of involving AI technology in their data solutions, they are still not actively adopting AI technology due to a lack of technology expertise, implementation, analysis, or resistance to change. However, most companies today acknowledge the importance of AI in data solutions, primarily for data enhancement.
While carrying out data enhancement through AI, marketers can get high-quality data and combine them to build their campaigns. The quality of data will have a direct impact on lead generation. Consequently, qualified leads can be expected for businesses along with higher revenue. Market trends and customer expectations evolve before the marketing team realizes them, affecting data negatively. In this aspect, AI ensures enhanced data through all accuracy parameters, provides updated information from reliable sources, and aligns the final data construct with business models.
In addition, improved data with the help of artificial intelligence can also be a massive asset for personalizing customer communication. And a lot more can be done under personalization with improved data.
Ready Access to Data
When marketers use artificial intelligence in their database, the chances that they can aggregate data at once or on an immediate basis are higher. So AI allows ready data to access by marketers, as simplified, enhanced, and quality proofed by the business perspective and aligned to marketing goals.
Business data is often accumulated from multiple sources, which could be public or private, and is aggregated in the database. The pivotal role of AI here is that it regularly updates the latest information from data stored in these sources and supplies it in a structured and ready-to-use format. This further leads marketing leaders to achieve transparency in the data. And can be returned to use for personalizing and hyper-personalizing marketing efforts. So, by implementing AI in data solutions, marketers can use best practices for using relevant data for strategies.
Data Enhancement Through AI – From Increasing Conversions Point of View
Reaching Customers on their Preferred Medium & Devices
As most businesses run with a hybrid model or remote setup, the shift is increasing toward digital platforms. So, customers are also becoming comfortable using digital media to access and gain information from brands and services using multiple devices of their choice.
In this aspect, AI poses a boon in the data enhancement process by providing insights into buyers’ behavior, devices, and mediums they use to reach a particular brand. These enhanced insights help marketing leaders to identify, check and instruct the marketing team to pay attention and deliver personalized solutions. These solutions would reach directly to the mediums and devices they used it. This, in turn, increases customer experience (CX), and conversion rates are high. The whole marketing cycle keeps going on actively with the help of AI’s ability.
Standing Out in the Rising Competitive Stage
Customers have become smarter today as they understand the rising marketing competition. This change has put them in a place where today, they can analyze and compare solutions and service offerings with other competitive brands. This makes marketers think more about how they can be differentiated and stand out from the crowd.
That demands dynamic and conducive consumer experiences altogether. And it is possible by leveraging artificial intelligence for data enhancements, which further helps marketers to gain qualified data. The relevant data through AI enhance valuable marketing communication, builds engaging connections with prospects, and boosts conversions.
What’s more about AI doing wonders in the process of data enhancement? Marketers can make a point of the following advantages:
- Eliminating duplicate data
- Gather intent-based data
- Validating data
- Scalable data
- Nurture account-based data (ABM)
While most organizations want to create a healthy database and would prefer to work on valuable data, it might not be feasible to invest in AI immediately. However, to begin with, marketing leaders can collaborate with IT experts to share knowledge about AI and its role in data enhancement, build skillsets, and operate and streamline data solutions. The point here is marketing leaders should not stop innovating marketing with technology. There are many cost-effective ways today that can be used to leverage technologies like AI to enhance data!