Data Bubble Consultancy Ltd

I often get asked for consumer data … however have you ever wondered how is consumer data collected?

Consumer Data is collected a number of different ways… however to get one of the most comprehensive consumer files is Transactional data

So what is transactional data?

Have you ever wondered how other insurance companies send renewal letters around the time of your insurance renewal date? Or how other charities seem to know you already donate to a charity?

This is because companies share their information creating transactional data.

What types of companies contribute to these databases?

There are a number of organizations that pool their data however the main ones tend to be from insurance, magazine, mail order and charities.

So what happens to the information?

Although companies don’t provide specific customer information such as buying history or credit card details etc they do pool other information such as contact details, dates of birth, bad debtor information and previous insurance claims.

So why do companies contribute?

Sharing their resource can protect them against possible bad debt or fraudulent claims. In many cases companies have access to an ideal prospect pool of known buyers or donors. In addition it often provides additional revenue from the contributing companies concerned.

So what are the additional files that make up the comprehensive database?

Transactional data is often then pooled together with additional data sources such as the electoral role, company house information and land registry etc creating a file that has a comprehensive coverage of UK consumers. The information is then profiled for greater targeting.

What is profiling?

Profiling is a tool used to categories or classify consumer records. There are a number of companies that have developed profiling software – each having their own classifications.

How up to date is this data?

The transactional information is usually updated on monthly bases along with monthly updates/changes from the electoral role.  In addition to this further cleaning and screening against industry files is carried out on a regular basis to ensure the file is up to date as possible.

Why do companies use this type of data?

It’s often cheaper to buy new prospects from this pool than sponsor a question on a survey or buy leads from a lead generation company. Plus there is comprehensive coverage meaning that there are more prospects available to target.

If you want to find out more information then contact Joanne at Data Bubble on 0845 076 6302

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