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How Businesses Can Leverage Professional Network Data In 2023

Professional network data allows businesses to get access to valuable insights that would be helpful for fostering collaboration and driving growth. B2B network data is a collection of important business data like professional connections and affiliations, which you can leverage to improve lead generation.

May 31, 202311.3K Shares405.5K ViewsWritten By: Alastair Martin
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  1. What is Professional Network Data?
  2. What types of data does professional network data include?
  3. How businesses can leverage professional network data
  4. Wrapping Up

Professional network data allows businesses to get access to valuable insights that would be helpful for fostering collaboration and driving growth. B2B network datais a collection of important businessdata like professional connections and affiliations, which you can leverage to improve lead generation.

What is Professional Network Data?

Professional network data shows you the relationship between different professionals, with the aim to unlock new opportunities, benefit sales and marketing, and improve company strategies. In fact, businessexecutives stated that they would lose 28% of their businessif they ended networking.

Basically, professional network datasets include all the data points required to improve corporate and business strategies. This includes employee datasets, company datasets, and job posting datasets.

What types of data does professional network data include?

Professional network data offers robust information that can give businesses valuable insights into the current unstable job market.

Employee Data

Employee data includes all the information a company collects during the course of employment. This data ranges from name, location, and hire dates to more characteristic data like employee skills, performance, education, and previous job descriptions. Employee data is a must for businesses that hire, it will help find the perfect candidates while saving time and costs while also boosting retention rates.

Company Data

The main difference from employee data is that rather than describing the people who work or wish to work in a company, company data describes the company itself. It covers the same data points like name, location, qualities, and behaviors while also including other aspects such as headcount and company size. This data can be used by companies to detect their competitors but is also used by investors to evaluate companies they are interested in.

Job Posting Data

Job posting datasets are made of all the job posts that are out there, with updates coming through daily. Companies that offer jobs or people who are looking to get employed can make use of this data. With all of the job postings in one dataset, it's easy to compare requirements, salary offers, and employment offerings.

How businesses can leverage professional network data

Professional network data is an essential ingredient, no matter what industry we are talking about. With the right approach, you can build mutually favorable terms and agreements with other professionals in the industry. Let's take a look at some practices and benefits of professional network data.

Sustain business connections

Professional network data withholds all details about a company, including its employees and job postings. With these details, you can easily connect with businesses and assist them. In return, businesses will help when you are in need. Even data shows that 85% of positionsare filled with personal or business connections.

Tap in for ideas

Since professional network data supplies you with all aspects of business making, you can tap in for ideas and implement them in your company. Studies show that 70% of the time, networking introduces new opportunities for companies.

Discover job opportunities

As an investor or company looking to find new investor projects, you can use network data to find you the perfect candidates. As a business looking to collaborate with another company, thanks to network data, you can choose companies by their qualities and morals.

Performance optimization

With the right network data analysis, businesses can reveal crucial information about hidden tailbacks and other issues that can hold back performance and productivity. While this information might seem normal when analyzed, it can show up as an issue when compared to other companies and data.

Wrapping Up

Professional network data will definitely bring numerous benefits to your business. By analyzing a large collection of datasets, you can make better decisions right away. This type of data is so diverse that it can be used in many areas, such as talent sourcing, investment decisions, and data enrichment.

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