This week, Oracle Data Cloud sat down with Vimal Vel, VP of Partner Solution Strategy, Dun & Bradstreet to learn more about the upcoming joint session at Oracle OpenWorld and how organizations are using B2B data to drive competitive advantage.
Oracle Data Cloud: How does B2B data enrich the value of sales and marketing technologies?
Vimal Vel: When you look at the flow of the customer lifecycle, where a prospect becomes a lead, then an account, then a customer, they often touch multiple systems or applications. For example, prospect information tends to touch marketing automation systems, as well as possibly sales systems. Each of those applications requires the right information, which is typically a combination of first party data (an organization's own data) and third party data (external data that comes from sources like Dun & Bradstreet or Oracle Data Cloud). When you combine both data types, you can achieve a holistic view and better understand your customers and how to execute campaigns and lead management programs more effectively.
Oracle Data Cloud: How do organizations know if they are using quality B2B data, and why is it important?
Vimal Vel: In B2B, data quality is critical. If you don’t have accurate data about the company, or if you don’t know that this is the right prospect, the actions you might take as a business might be misguided. In addition, business workflows tend to span across multiple systems (e.g., CRM, MA, ERP etc.). When you are using multiple technologies and the data flows across all of them, having accurate information and a consistent, unique identifier (such as the DUNS Number) that connects all of these systems across the workflow, is very critical.
At Dun & Bradstreet and working with Oracle Data Cloud, we use data to validate that the information our customers are using for marketing and prospecting is accurate.
Companies often collect data across multiple systems and send it to Dun & Bradstreet, where we go through a process of cleansing that information and matching it against our database. Then, we assign the DUNS Number as a unique identifier, and enrich it with information that we maintain about those companies, before we send it back to our customers. This enables our customers to address issues like duplication and out of date information. The more accurate your data is, the bigger advantage your organization will have. You will be able to directly target your audience, rather than trying to chase information or shoot into the dark.
Oracle Data Cloud: What can we expect from Dun & Bradstreet in 2016?
Vimal Vel: We are a data company, and we’re focused on delivering high-value solutions for our customers to use as part of their business workflows. We will continue to invest in developing solutions for our core lines of business (Risk, Sales & Marketing, Supply and Compliance) focusing on customer needs, which we constantly monitor across multiple partners and customers’ engagements and forums.
Oracle Data Cloud: How is the Dun & Bradstreet/Oracle Data Cloud partnership enabling clients to be successful?
Vimal Vel: If you think of the concept of the “Data-Driven Enterprise,” the need for information across multiple workflows, as well as the importance of accurate and consistent data that touch multiple applications and require multiple data assets to be linked, connected and delivered in a seamlessly integrated manner: that’s what the Oracle Data Cloud and Dun & Bradstreet partnership allows us to deliver.
The partnership enables the sourcing and integration of specific, high-value data assets as part of customer solutions. Secondly, it allows for linkage across multiple data sets that can then be delivered into a customer’s sales or marketing workflow.
For example, through the Oracle Data Cloud and Dun & Bradstreet partnership, customers are able to source from the universe of 250 million+ commercial entities that we maintain as part of our database. Customers are then able to take these prospects through the journey of evolving them into leads in their marketing automation platforms and then into accounts and customers in their CRM. At each stage, they are able to source high-value, trusted content from the Oracle Data Cloud.
So through different stages of that prospect or that customer journey, we are giving clients the ability to source, integrate, and consume that information as part of their workflow application. From a data perspective, we give clients everything they need right at their fingertips. I will talk about how using data in these ways drives maximum return on investment in our joint session at Oracle OpenWorld, so don’t miss it.
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