Data is one of the most valuable assets of any organization. Enriched data, like enriched cereal, is even more valuable. Data enrichment takes a single data point – a unique product ID, for instance – and attaches additional information to that one data point. The single enriched data point can then provide better business insights for your entire organization.
One of the most advanced ways to enrich data is through combining different information sources. By having access to data from multiple sources, organizations can have a more comprehensive view of their customers, products, and operations.
When RFID data and data from digitized documents are combined, the resulting insights will have a positive impact on any business. The data stored in these databases is structured, meaning it is organized in a consistent format that makes it easier to access and analyze.
Enriched data from RFID and document databases is valuable throughout the organization. A few examples:
- Marketing – Product aging data from the RFID inventory intersects with digitized product brochures to create a quick end-of-season sale, reducing the cost of expired inventory.
- Quality Control – The digital document database matches suppliers’ warranties to an RFID-generated list of defective manufacturing supplies, providing fast data-supported refund requests to your vendors.
- Facilities Management – A digitized maintenance schedule is linked to specific items tracked in an RFID database, saving time in locating maintenance-due assets, and saving the cost of replacing improperly-maintained assets.
Enriched data provides organizations with improved operational efficiency. By having access to more accurate and complete data, businesses can make better decisions, prioritize tasks, and improve their operational efficiency. This improved efficiency can lead to cost savings, productivity gains, and smoother operations.
Perhaps your business is already using RFID for inventory management. Maybe you have already converted your paper documents into a digital database. If so, take a look at the benefits of cross-referencing the two databases. Organizations that invest in combining these data sources and leveraging the enriched data for decision-making can gain a competitive advantage and secure a strong future for their business.
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