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Whatever your business challenge, you’ll need data you can rely on to solve it.
It’s highly unlikely that the data you have in-house offers the scope or relevance you need. That it’s fresh enough to tell you what’s happening right now – rather than last week, month or year.
Increasingly, you need external data to drive your analytics, business intelligence, and machine learning (ML) models. But how do you get hold of exactly the right data, fast, and use it immediately without spending weeks on cleanup and prep?
How does Explorium fix your external data management headaches?
Explorium enables you to find the most relevant external data for your advanced analytics or machine learning (ML) projects and integrate it into your pipelines.
This gives you a quick and easy way to enrich your internal data and add all the signals that are relevant across data sources, without spending months manually searching and engaging with a ton of different data providers. Plus, it’s essentially built into the Explorium platform, so you can do all your automated feature generation and selection, and build and deploy ML models, from the same place.
The Explorium platform also automates matching external data signals with your internal data and integrating them into your production pipelines.
Why do you need external data?
Insights from external data help you anticipate trends and changes to spending habits, make better operational decisions, improve risk management, optimize marketing campaigns, develop and improve products, identify new revenue streams, make your supply chains more efficient, adapt to emerging economic challenges, and capitalize on opportunities.
The more high-quality, relevant information you have at your fingertips, the better equipped you are to understand your business, your industry, and your customers. In turn, the better placed you are to predict and prepare for the future.
Let’s say you’re scoping out new brand locations. Your internal sales and website data give you a reasonable idea of where your existing clients are based and how much they spend. Ideally, though, you still need external data sources such as precise geolocation and customer footfall data, information on area demographics, and average income. This leads to far more accurate predictions on whether a proposed spot will see enough of the right kind of customers to make the new location a success.
What kinds of data do you get with Explorium?
Explorium provides access to hundreds of pre-vetted data sources, comprising thousands of external data signals. That includes company data, economic indicators and reviews, geospatial and demographic data, product and pricing data, time-based and weather data, and people data such as contact information, purchase habits, and information drawn from social media networks.
These datasets are derived from public, private, and premium sources. They’ve all been checked thoroughly for regulatory compliance, then normalized and harmonized, so they’re ready to use – and you can treat them as a single source of truth, rather than as separate sources of data.
How does it enrich your existing data?
Once you’ve uploaded your internal data to the platform, the platform automatically generates relevant suggestions. You can search for and instantly pick and choose which data signals and data points help to answer your question and fill gaps in your knowledge. Each new data enrichment opens up new data signals to search and explore, too.
What’s great about this external data management system is that the new data is automatically aligned and integrated with your internal dataset. It enriches the data, rather than giving you competing data streams that you need to connect and match yourself. This simplifies your data pipelines and improves your ML models accuracy. Especially as you can select the output format you want and schedule action flows (recipes) to make things really efficient.
Even better, you can use the in-built transformation tools to tick off a number of fiddly data preparation tasks. That includes editing classifications, splitting values, adding dates, and defining filters based on your specific benchmarks.
Final thoughts: breakthroughs in time to make a difference
No matter how insight-rich and valuable your data, if you don’t have a swift, reliable way to get that data into your ML models or analytics pipelines, it can’t benefit your business. By the time you’ve found what you need, cleaned it up, and turned it into a format you can use, the moment will have passed.
Explorium fixes this problem by helping you track down the data you’re missing at lightning speed and integrating it with your internal data. You get a competitive edge – and you get it at a price point and a timescale that delivers maximum ROI.
Intrigued? Click here to see it in action!