What is business data and what types are there?

What is business data?

The term “business data” today is a broad concept that includes a broad range of information. It includes data such as the industry they operate in, where they are located, how many employees they have and what tools they use. All of this data is relevant if you are looking to sell to them. This is because changes in this data, can inform buyer intent, and result in higher value clients.

One of the biggest pros of managing business information digitally is the ability to share it quickly because this will allow your sales team to be the first to act.

Types of business data?

There are different types of business data that are valuable to track.

Basic data

This is data that will help you identify each business. Thus, it includes factors such as their formal name and business ID.

Firmographic data

There are several categories within firmographic data. Examples of such include industry, size, location and trends they experience. Thus, tracking these can give you benefits such as better customer service by improved product or service tailoring.

Key questions you could be asking include:

• What is the total company size by employees and managers?
• What is the revenue of the company annually?
• Is the company mature or in early stages of growth?

Therefore, these answers will help provide the base of relevant business data.

Technology data

Technology data is a type of business data. This data is about the platforms and services businesses use. Knowing what CRM or payment tool is useful because it can help inform you if your  your product could help them. Thus, this will inform your sales strategy when you approach them. Examples of tech data tools you should know include CRM, payment, content management and email servers.

Tools?

Tools such as Triggr are useful because they centralise all of this data on the platform so you do not have to look for it.