What is meant by data enrichment?

Data enrichment refers to the process of enhancing existing data by adding relevant context or supplementary information that improves its overall quality and usability. This could involve integrating data from various sources to provide a more comprehensive understanding of the data at hand. Enriched data typically offers deeper insights and value, enabling more informed decision-making.

For instance, a business could take customer transaction data and augment it with demographic information, social media interactions, or third-party datasets. This additional context allows for better customer segmentation, targeted marketing, and more effective business strategies. The focus of data enrichment is on expanding the dataset's capabilities beyond its original scope, ensuring that the insights derived from it are more robust and actionable.