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Industry-Specific Data

What Is Industry-Specific Data?

Industry-specific data constitutes information about specific industries, especially the automotive and construction industries. However, many other industries are accounted in this category, including the healthcare, agricultural, energy, and manufacturing industries.

Where Does Industry-Specific Data Come From?

This data comes primarily from app or device data, company CRM analytics, and other internal sources collected in company and third-party organization reports. Additional data sources include news and press releases, satellite images, and keyword searches.

Each industry may use these sources to different degrees or have sources not applicable to other industries. In addition, the regulations on collection and privatization of data varies greatly by industry: consider, for example, the healthcare industry vs the agriculture industry.

What Types of Columns/Attributes Should I Expect When Working with This Data?

The data attributes vary wildly by industry. There are few attributes in common between the healthcare field and the agriculture field, for example. Therefore clarify industry standards and your own goals for the collection of the data before recording or purchasing the data.

What Is This Data Used For?

As noted in the section above, this depends highly on the industry in question. Construction data, for example, assists companies in bidding for new projects. Automotive data assists governments with city planning. And both industries’ data enables companies and governments in planning road construction projects.

For another example, construction companies and renewable energy companies cooperate on reducing carbon emissions in the construction of new buildings.

Essentially, if you consider the goals of organizations within an industry, you will see the many uses of the data. And while the overlap in data usage between industries may seem surprising, it becomes less so when you consider how interconnected we all are.

How Should I Test the Quality of Industry-Specific Data?

As always, data quality must be measured by its accuracy, relevancy, completeness, timeliness, and consistency. If you are purchasing data from a vendor and cannot test the accuracy or consistency of the data, ask for a sample dataset to check for relevancy and completeness. Finally, make sure the vendor updates the data frequently.

If you are instead using a software solution to collect and analyze your company data, many vendors offer ready-made solutions that you integrate with your own CRM and data warehouse systems. Consider the software provider’s reputation and consult with your various departments before shopping to ensure the program will suit your needs.

Interesting Case Studies and Blogs to Look Into

Otonomo: Traffic Optimization: PTV Group
Forbes: Envisioning A Data-Enabled, $2 Trillion Automotive Ecosystem Before Autonomy Is Real

Tangible Examples of Impact

IBM has opened up 60 data centers “across 19 countries on six continents … Hossam Seif El-Din, VP of enterprise and commercial for IBM Middle East and Africa [says] “If you think today, every organisation will need to undertake a hybrid cloud strategy and they will also need to be multi-cloud.”
Capacity Media: New horizons

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