May 12, 2021
Company data is information surrounding a company’s qualities and behaviors, such as internal customer relations data, firmographic data, technographic data, and intent data. Let’s take a closer look at the building blocks of company data and how it is leveraged.
Company data is a broad term for data that covers internal customer relations data and external data, data collected by a third-party data company, about a business’s characteristics and behavior. More specifically, company data can be divided into four main subcategories: customer relationship management (CRM) data, firmographics, technographic, and intent data. Let’s explore these subcategories, starting with external company data.
Firmographic data is defined as data that is specific to a particular organization’s structure, qualities, and other unique identifiers. Specifically, if demographics focus on the general characteristics of individuals, firmographic data focuses on the general characteristics of businesses. As a result, high-quality firmographic data can provide data scientists, marketing & sales teams, and investors with in-depth business insights. Let’s take a closer look at some of the benefits of firmographic data.
Company data such as company size, competitors, and revenue provide investors with valuable insights about prospects, boosting investment intelligence. For example, firmographic data combined with technographic data helps investors evaluate and track company growth so they can screen start-ups and identify businesses ready for investment.
Firmographic data points such as unique company identifiers, funding, size, and employee information can fuel a lead generation tool or enrich existing datasets. For instance, Data companies provide developers with high-quality data so they can build AI-based lead generation tools. Firmographic data, combined with technographic data and resume data, can provide businesses with a complete picture of their prospective clients.
Companies leverage firmographic data to discover market trends, monitor growth rates, and track industry trends. With these insights, businesses and investors can make better business decisions and generate business opportunities. Further, monitoring the revenue, locations, and size of their competitors can help companies visualize market gaps and growth opportunities.
Additionally, firmographics such as market performance, status, and the structure of a given company can provide businesses with insights on their competitors’ movement, growth, funding, and more. For example, monitoring your competitors’ growth rate by tracking the growth of specific teams or new office locations can help you make better-informed business decisions.
Technographic data is defined as data that describes a particular company’s technology stack. More specifically, technographic data contains information that explains the tools and technology a particular company uses throughout all of its business processes. Here are some benefits of utilizing technographic data.
Companies can analyze a competitor’s technology stack, discovering insights into a company’s internal and external operations.
Companies looking to sell software or services can enrich their CRM and lead gen database. This is done by gathering information about how prospective clients operate. Then, businesses can reach out to prospective clients and offer their own products or services.
By analyzing a competitors’ technological stack, companies can discover valuable operational insights such as trending software, new services, faulty products, alternative solutions, etc.
Intent data, also known as B2B intent data, is defined as data that describes a company’s recent business activities. In other words, intent data indicates buying intent and consequently provides businesses signals about when is the best time to approach prospective clients.
This data can include descriptors such as recent acquisitions, renewed or discontinued services, search information, and more. While this data appears wide-ranging and somewhat undefined, intent data has the power to enhance lead generation, predict movement, inform competitive analysis, and improve sales. So let’s take a closer look at the benefits of intent data.
Companies can leverage intent data such as recent acquisitions, services, and comparison website data to track market growth and monitor their competitors.
Predicting buying intent is the most common use of intent data. As a result, companies are able to build AI-based tools that can provide information surrounding the likelihood of buying.
Internal CRM data is customer relation data collected internally by a particular company. More specifically, CRM data refers to data stored within a company’s customer relationship management system that is used to further describe the qualities and characteristics of a company’s structure as it relates to its customers. First, let’s take a closer look at the benefits of CRM data.
Companies are able to improve their lead generation by collecting internal data for their CRM through lead capture tools, manual collection, social media activity, and job postings, to name a few.
By analyzing data from an internal CRM, companies can gain competitive intelligence insights. Companies are able to discover trends, sentiment, shortcomings by analyzing CRM data and its sources.
Company data is collected through three processes: web scraping, online collection, and manual collection.
According to Outside Insight, of the companies that use alternative data, 50% of the data they use is collected via web scraping. Scraped data includes relevant data that is collected from a particular source. Company data sources include public web data collected from social media, websites, documents, etc.
Online company data collection includes data that was accrued specifically through inbound and organic traffic. This can include traffic from people interested in webinar registrations, mailing list subscriptions, sales consultations, social media interactions, job postings, etc. Most businesses collect this data through tools such as Google Analytics.
While manual collection is sometimes tedious, manual company data collection can lead to powerful insights and business opportunities. The manual collection process involves activities such as event registrations, cold calls, lead capture tools, giveaways, surveys, etc.
Company data is used by various professionals ranging from data scientists and developers to investors and sales teams. Because of the broad scope of company data, it is common for many departments within an organization to utilize company data. Further, some departments utilize company data in different ways for varying objectives.
For example, some companies hire data analysts to crunch raw data to extract insights which are then passed on to other departments such as marketing and sales. On the other hand, some companies purchase ready-made insights from data providers that are used across multiple departments.
Companies can utilize company data such as company documents, social media, and general information with sales intelligence tools. With high-quality company data, sales intelligence tools can significantly increase a company's lead generation. Some additional areas where businesses can utilize company data include:
"Company data provides immense value for sales teams looking to find the right organizations and the right leaders that would fit their product or service. While they're a great starting point, they never have enough information to get a feel for the company structure or the state of operations."
- Blake Burch, Co-founder of Shipyard
Upon analysis of company data, there are two types of analysis processes that companies can leverage for enhanced decision-making. These analysis types are descriptive and predictive analysis. Descriptive analysis involves interpreting data to evaluate how a particular company performs. Predictive analysis involves discovering trends, growth, revenue, etc. from data about a particular company. Some specific processes enhanced by company data include:
In addition to enhanced lead generation and analysis, companies can also leverage company data to improve their own business intelligence. Understanding how your competitors are operating, performing, and forecasting can provide rich insights on ways your company can improve, expand, and perform successful risk management. Some specific areas companies can improve by leveraging company data include:
Sometimes, companies don’t leverage the full potential of alternative data sources. For example, only utilizing partial amounts of data or not cleaning the data enough to be used successfully in AI-based tools. This can negatively impact data-driven decision-making.
Without up-to-date and accurate company data, businesses might be misled by insights gathered from insufficient data. For example, regularly updated data from companies, such as revenue, partners, and size will enhance all further analyses and integrations of said data.
It is important for companies to utilize data throughout their tools, processes, and storage consistently. If company data is not consistently managed and organized between a sales team and a marketing team, for instance, the two teams might not be able to communicate accurately.
In all, businesses and investors leverage company data for strategic market insights, lead generation, competitive intelligence, and investment intelligence. As the digital landscape of business and finance expands, companies will need to utilize alternative data such as company data in order to stay ahead of the competition and find business success. If you are interested in how company data can help your business, contact [email protected] or schedule a consultation below.
The most common use cases for company data include lead generation, competitive analysis, market research, and data-driven recruitment. Businesses also utilize company data for business intelligence to enhance internal operations and improve workplace efficiency.
Company data covers a wide range of data types, including firmographic and technographic data. Public resume data is similar to company data, in that it provides similar insights to company data, but on an individual level.
Company data is primarily found online and is typically collected with web-scraping and online inbound traffic by a data company. Companies utilize data providers and data management tools to acquire and manage data collected via web-scraping and inbound traffic.
Company master data is data that illustrates a company’s business transactions and relationships. Specifically, company data includes fields such as customers, suppliers, partners, products, financial structures, and more.
Powrbot, Fincen, and Companies House provide users with free access to company data via CSV. Wikipedia, Global Open Data Index, MIT Libraries, and Datapo also provide users with free but limited company data. If you are interested in more extensive company data, Coresignal provides a free data set to help you decide if company data is right for you.
You can get company data via a range of delivery methods, but the right one for you depends on your use case. For example, historical company data is usually available to download in bulk. On the other hand, if your use case is time-critical, you can buy real-time company data APIs, feeds and streams to download the most up-to-date intelligence. Coresignal offers three solutions for data delivery: Raw data, Database API and Real-time API.