Industrialize Your Use of Third Party Data with SAP Cloud Platform Data Enrichment
The Need for and the Challenges with Data Enrichment
Data enrichment is the process used to leverage 3rd party data from an external authoritative source to enhance, refine or otherwise improve existing first-party data. By adding data from a third party, organizations gain additional understanding, deeper insights and improved operational efficiency through increased data quality (e.g. more accurate, complete and up-to-data information). And, the demand for high quality data is greater than ever. This is related to the industry-wide shift to a mindset of data-driven thinking. In Intelligent Enterprises, data feeds intelligence which in turn feeds process automation, innovation and insight. This leads organizations to seek out scalable methods for database upkeep and expansion.
And, scalability in the data enrichment solution is a key. In an independent market study among SAP customers, there was a common feeling that the cost of integration of third party data was higher than the cost of the data itself. So why is it so hard? It sounds simple, you take data from an external provider and inject it into your IT systems. However, the reality is that is hard to know what data exists, where it exists, whether it is up-to-date, and how to access it. Combine that with the fact that in large organizations, there is likely multiple versions and formats of the same type of enrichment data – possibly from different vendors – scattered throughout various departments and lines-of-business. In other words, multiple point-to-point integrations between various sources of third party data and business applications, scattered across the organization.
How does the SAP Cloud Platform Data Enrichment service help?
SAP Cloud Platform Data Enrichment is a DaaS (Data as Service) offering by SAP to industrialize the use of third party data for enterprise applications. The solution enables customers to find, procure and consume relevant data sets in a timely manner. It allows frontline business users as well as your backend IT team to easily consume data from external data providers from a connected, central platform as well as use prebuilt integration with SAP S/4HANA and SAP Master Data Governance. Ultimately, this means a lower cost to integrate and access the data and increased reuse through centralized data provisioning and distribution.
Data Enrichment is currently available for business partner data, including connectivity to Duns & Bradstreet (current US only data) and well as the Corporate Data League (both available via the SAP App Center) data providers. You can subscribe to all attributes or a just a subset with coverage across multiple industries and geographies. The solution can act as a central cockpit to monitor your third party data usage to help keep your spend in control. Hence rather than spending time and money on data integration and management, companies can benefit from ready-to-consume data from several reputed data vendors.
In addition, SAP Cloud Platform Data Enrichment eliminates the manual work needed to keep data accurate and up-to-date. Manual data entry is prone to human error, as business users and your IT staff will struggle to keep up with the rate at which the information changes. With the solution, you can:
- Have a plug-and-play experience in consuming third party data
- Automate the creation of business partner records using third party reference data as starting point for data entry and updates
- Keep your data up-to-date and fill in any gaps by performing periodic mass updates with mass enrichment capabilities
- Ensure high quality, complete business partner master data as you make the move to SAP S/4HANA
Want to find out more and get started?
So, how do you get started? It’s simple, visit the SAP Store to secure a license for SAP Cloud Platform Data Enrichment, which includes out-of-the-box connections to business partner creation apps within SAP S/4HANA and SAP Master Data Governance:
Then, purchase enrichment data from a connected data provider via the SAP App Center:
- D&B Optimizer for S/4HANA on the SAP App Center (Duns & Bradstreet)
- CDQ Business Partner Data Lookup on the SAP App Center (Corporate Data League)
You can also get hands-on and run specific master data demo scenarios, including the integration of the SAP Cloud Platform Data Enrichment service with SAP Master Data Governance via the SAP Cloud Appliance Library (CAL):
- SAP Master Data Governance on SAP S/4HANA 1809 FPS2 Now Available on the SAP CAL
- Search, Import, Create Customer by using the SAP Cloud Platform Data Enrichment service demo scenario
Finally, here are some additional, valuable resources to learn more about SAP Cloud Platform Data Enrichment: