2025

Successful Data Sourcing

Strategies and Insights

from Industry Experts
Tasnim Patel Eugenio Caterino
Data Sourcing Specialist Editor & Data Industry Expert
Contents

Introduction 02

1 Understanding Data Sourcing 04

2 Key Considerations for an Effective Data Sourcing Strategy 07

3 Strategies for Successful Data Partnerships Data Sourcing 17

4 Future of Data Sourcing for Enterprise Companies 24

5 Conclusion 27
Introduction

No data, no AI: Data is essential to solving our

biggest challenges in business, science, and

society. With the advent of generative AI,

access to data has taken center stage for

leaders and innovators across the globe.

When we founded Datarade in 2018, we made

it our mission to help companies find the best

external data for their business - but only

today, we really understand how critical

Thani and Richard, founders of Datarade

external data has become for every company.

Data-driven decision-making is increasingly setting successful enterprises apart from others, and in

today's data-driven landscape, it is imperative that companies leverage not only their own data, but

also equip themselves with relevant external sources. Leveraging external data can help your

organization gain a competitive advantage and ensure you are not faced with blind spots during key

decision-making processes.

We’re now looking back at 7 years of building Datarade, one of the world’s largest data

marketplaces. We’ve worked with 2,000+ data providers, 100,000+ data buyers, and created more

than 50,000+ matches - and now we want to share our unique insights on how to successfully

source external data. We invite you to take a look behind the curtain.

In this guide you will learn more about how to effectively source data, what variables you should

keep in mind during evaluation, and how to choose the right data provider. You’ll also read about

real-world use cases from some large companies we’ve helped source data for. Finally, you will hear

from the experts themselves throughout the guide - data providers & buyers that we have worked

with - to give you on-the-ground tips from their own experience.

We hope you enjoy this guide, and gain some useful information to help guide you in your next data

sourcing journey!

Thani Shamsi & Richard Hoffmann

Founders of Datarade

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Why Enterprises Choose Datarade
Datarade simplifies data discovery for businesses, connecting them with reliable external data
sources. Every month, over 100,000 businesses use Datarade to find and compare high-quality
datasets for everything from B2B lead generation to AI model training.

Enterprises get access to

600+ data categories tailored to their need
1200+ verified data providers ensuring trust and complianc
Sample previews and data dictionaries that simplify data assessment

Our data marketplace helps you quickly identify the most suitable providers. You’ll gain access to a
wide range of data sources in one place, benefiting from the trusted relationships we’ve already built
with providers.

Top 10 Enterprise Use Cases by Demand


At Datarade, we see strong demand from enterprise organizations across various industries, looking
for data for a variety of use cases. Requests for B2B marketing and sales continue to lead, followed
closely by emerging trends like AI training and consumer intelligence. With over 200 use cases
available, the chart below showcases the 10 most requested, providing a snapshot of the requests
we receive from enterprise organizations.

Location Intelligence

5%
B2B Lead Generation

Business Development
17.5%
10%

Account Profiling

6.3%

B2B Sales

11.3%

Consumer Intelligence

12.5%

B2B Data Enrichment

10%
Artificial Intelligence
(AI)

8.8%
Advertising
Email Marketing

8.8% 10%

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1. Understanding Data Sourcing
1.1 What is Data Sourcing?
In simple terms, data sourcing is the process whereby companies collect data from various sources.
This may include internal data from their own records, data collected directly from customers or
other sources, or data obtained externally, from outside companies.

For the purpose of this guide, we will focus on data acquired externally, sourced from data-
providing companies. This may include raw or aggregated data types, sourced as first, second, or
third-party data. The chart below represents various data types to take into consideration.

Data Origins Data Collection Methods Data Types

Internal Data First-Party Data Raw Data

External Data Second-Party Data Aggregate Data

Third-Party Data Synthetic Data

Open-Web Data Structured Data

Unstructured Data

1.2 Internal Data: Your Company’s Hidden Goldmine

Internal data is extremely valuable. It can be used to gather information regarding an enterprise’s
own operations, efficiency and history. Common data points to look at are past performance, sales
and transaction reports, and marketing and customer details.

Well-structured records of internal data in the form of databases, CRMs, spreadsheets, and other
internal documents, can increase its usability and value to the company. When companies change or
implement processes or collect new data, considering how to effectively track and store the data for
future use should be top of mind.

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1.3 External Data: The Missing Puzzle Piece
External data can take on different forms and support a company in a variety of ways. From
enriching internal data for business intelligence, to deriving insights using fresh data in order to
enhance a company’s position. Below are some benefits of using external data:

Market and industry trends to build a competitive advantag

Data-driven decision making for evidence-based strategic planning and executio
Growth and product development with innovative, data-enriched solution
Customer insights to better understand sentiment, behavior, segmentation

1.4 The Unexpected Challenges of Data Sourcing

When acquiring external data, companies may face certain challenges along the way. Anticipating
and planning for these challenges can make the data procurement process smoother, faster, and
more efficient.

Four Common Data Souring Challenges

Identifying relevant data

Integration with current systems

Compliance considerations

Evaluating data quality

1.5 Why Data Sourcing Matters for Enterprises

There are a number of reasons why enterprise companies should be leveraging external data
into their operational toolbox. Below, we will dive deeper into some key benefits of external
data acquisition for enterprises, with some real-world examples.

Market and industry trends and insight

Weather, consumer demographic, and event data to plan promotions and product offerings
Consumer purchase and product and pricing data to track the competitive landscape, in
order to optimize pricing strategies and manage inventor
Job market data and job posting data, for talent and recruitment, job retention analysis and
emerging industry skills trends

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 Data-driven decision makin
Consumer purchase behavior and logistics data to optimize supply chain and inventory
management
Real estate data to guide investment opportunities or up-and-coming areas
Financial and stock market data to inform strategic planning and identify areas of growth.
Growth and product developmen
Foot traffic data to determine optimal areas to open new retail locations
App usage data to improve features, content, and consumer engagement
First-party consumer data to personalize recommendations and guide product development.
Customer insight
Web search data to understand emerging trends and consumer interests, enabling
improvements to search algorithms and stay on top of consumer sentiment
Regional transaction data to understand nuances of various markets and assist in differential
market strategies
Sentiment data to monitor brand health and reputation, and field brand perception.
As you can see, the sky is the limit when it comes to the applications of data for companies,

and with advancements in the fields of artificial intelligence and machine learning, the use

cases will continue to increase at a rapid pace.

While it may at first appear daunting to understand what type of data you need, there are a

few key steps you can take to ensure you approach your data acquisition journey in an

efficient and well-structured way.

The following chapters will provide guidance regarding considerations to make throughout the

data sourcing journey, from determining the data you need, to evaluating various data

sources, to strategies for building strong relationships with data providers.

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2. Key Considerations for an Effective Data

Sourcing Strategy

2.1 Aligning Data with Business Goals

When considering leveraging external data to strengthen your business, a key step is aligning your

data needs with your business needs. Keep the following suggestions in mind as you move forward.

Assemble a Data Sourcing Team

One of the first steps to take in your procurement journey is determining who will be responsible for

the data procurement process with external vendors. This process includes finding, benchmarking,

evaluating and choosing the best data partners.

Ideally this team should be cross-functional. Members could include someone in charge of finding

and connecting with the data providers, data scientists or engineers who can assist in the

evaluation of data samples, and someone who can oversee the commercial and legal aspects of the

data partnership. Ensuring that multiple relevant stakeholders are involved in the process will help

ensure that the most relevant data is procured.

Outline Clear Objectives for the Data

You may not know exactly what data you need from the outset, but it is key to know what

challenges or questions the data should answer, and what your use case is. Then, you can approach

data marketplaces or providers, give them the end-to-end picture, and lean into their expertise on

how to get there. Make the objectives you’d like to achieve with this data measurable or comparable

to a baseline metric, in order to quantify the success of your procurement.

Measurable Goals

"The foundation of any successful data partnership is alignment on

measurable outcomes, not just data delivery. Before entering a partnership, be

crystal clear about what success looks like. At Solution Publishing, an Allforce

company, we've built our strongest relationships by establishing upfront which

KPIs matter, whether it's improving conversion rates, reducing cost per

acquisition, or enhancing customer lifetime value. As a true partnership

evolves, your data provider should be continuously refining their models based

on your real-world results."

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Take Stock of Existing Data Assets
Evaluate the current data assets that your company has in order make your data procurement
journey as valuable as possible. Firstly, this will reduce the likelihood of data duplication by
acquiring data that you already have. Secondly, focusing on current data type, storage, refresh rate,
and other applicable factors, is important, so that any newly obtained data can fit the conditions of
the assets currently in-house. Finally, having a clear understanding of your current stock and
sources of data will help you ensure that any newly obtained data will complement the existing
data.

Defining Quality Metrics

“Before beginning conversations with data sources, ensure that your quality-
indicative metrics are ready to actively measure the data of interest.”

Avoid Data Silos

Connected to the idea of taking stock of current data assets, you should also ensure that the data
you will acquire will not exist in a silo, meaning that it is not accessible by the people that need to
make use of it. For example, ensuring data compatibility in terms of type or delivery is key to ensure
that everyone who needs to use the data can access it, or can connect it to other data sources.

To avoid data silos, you may ask the following questions:

Is there a unified platform to consolidate data from disparate sources?

Do all relevant stakeholders have access to the systems where the data will be stored?

Will newly-procured data be compatible with existing data, in terms of data format?

Understanding Data Requirements

Related to the point above, it's imperative that you clearly outline the data types, sources, and
quality standards that best align with your business needs and goals. For example, do you
need raw or aggregated data? Do you require a database or platform solution, or would you
prefer to receive the data in flat file form? Understanding the current data capabilities of your
organization will help you determine the best solution for future data procurement.

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 Engage with Your Data Provider
“We actually weren't aware of some of our new data provider’s functionality
even after signing up for a yearly deal. We worked really hard to bring them on
our journey and help explain to them what we were trying to achieve and how
they could help. It’s worth investing in doing this as you can then find your
data supplier offer up other things you may have missed as well.”

It’s important to be realistic during your data sourcing journey, considering resource constraints
such as team capacity and budget. Data can be expensive, and depending on the type of data you
acquire, it may require substantial storage and processing resources.

For example, storing raw, unprocessed data can take up to twice the storage space while yielding
50% less usable data compared to processed data. Understanding your team's technical
capabilities and realistically estimating the time required to evaluate and process potential data
sources is crucial. Allocating extra time for data assessment can help prevent delays and ensure
smooth integration.

Beyond Price
“Data can be a powerful tool for validation of internal data, supplementing, or
even enriching existing data. Don't just look for the least expensive solution/
provider - if it's cheap there is a reason for that - and at the same time don't
think that the provider with the largest reach will have the best data. Quality
can be subjective, so it is helpful to have a clear understanding of what quality
means to the user.”

2.2 Data Integration: Incorporating Data Effectively into

Existing Systems & Tools
When securing data partnerships with parties providing external data, companies should
proactively consider how they will smoothly integrate and manage said data into their current
systems, ensuring efficiency, accuracy, quality, management, and proper access. Below is a list of
initial considerations to keep in mind when embarking on the data acquisition journey.

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Data Compatibility, Scalability and Flexibility
For companies acquiring external data for integration into existing systems, it's important to ensure
that the new data is compatible with current systems and tools. Companies should also choose
solutions with the capacity to grow in terms of volume and capacity, complexity, and supporting data
from various sources of multiple data types. This process should be appraised before the
procurement process, in order to know what is required of the new data, rather than after the
procurement process is done. This helps avoid costly mistakes. To ensure new data is compatible,
consider the following steps

Transforming data to match existing structure

Standardizing data format
Alignment of data definitions

Data Consistency, Governance and Quality

When integrating data into existing systems, ensuring that the integrated data is accurate and
complete will allow you to maintain a high standard of data quality. This process will occur after
successfully integrating your new data into your systems or during the Proof of Concept (PoC)
stage.

Some methods to achieve a smooth consolidation of old and new data sources include:

Method Description

Regularly check for errors, duplicates, and inconsistencies to

Data Quality Checks
maintain data integrity.

Standardize formats and structures across all sources to streamline

Data Structure
integration, comparison, and analysis.

Establish internal policies on data usage, ownership, and access;

Data Governance
update as new sources are added; provide training if needed.

Use classification systems like data dictionaries and metadata to

Data Classification
track attributes, meanings, and context for consistent application.

Implement a Master Data Management (MDM) system as a single

Data in MDM Systems source of truth for key data assets, including internal and external
sources.

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2.3 Compliance: Understanding Legal and Ethical Implications

In the world of data, compliance is becoming an increasingly relevant topic. ‘Compliance’ is an

umbrella term that may refer to rules and regulations around:

Data Collection


Ensure transparency, including obtaining consent, and following privacy laws while gathering

data

Data Storage


Prioritize data security standards, access controls, and policies related to retaining data, in order

to protect sensitive information

Data Protection Regulation & Industry Standards


Follow regulations specific to your industry, such as the Health Insurance Portability and

Accountability Act (HIPAA), the General Data Protection Regulation (GDPR), the California

Consumer Privacy Act (CCPA), and the Payment Card Industry Data Security Standard (PCI-

DSS)

Data Sharing/Selling/Reselling


Establish standards to ensure data processing, transactions and data partnerships are compliant

with regulations, contractual obligations and ethical standards

Data Access & Governance


Set clear policies around how any sensitive data is managed internally. This may include

standards around how data integrity is assured, how data is accessed, deleted, etc.

As you think about compliance, keep these best practices in mind:

Transparency and Consent


Be upfront and transparent regarding the collection, use and sharing of data, including collecting
the relevant consent from parties’ involved (e.g. individual consent) for collecting and
processing the data
Security Standards

Ensure that all data procured complies with relevant security standards which are related to

cybersecurity and information management, such as N IST or IS O 27001

. These provide

guidelines to ensure that sensitive data is secured and security risks are managed

Privacy Standards

Ensure integration and storage follow industry regulations. U phold privacy through secure

transfer protocols, encryption, and controlled access to sensitive data

Breach Notification Requirements


In the case of a breach, you may need to notify any affected parties, as well as relevant
authorities, as per applicable regulations.

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 Ethical Considerations


Moral and ethical considerations should be made in the wider scope of data collection and

usage.

Data compliance involves ensuring that organizations handle data responsibly, ethically, and in

accordance with applicable laws and regulations to protect individuals' privacy rights and maintain

trust in the digital ecosystem. Keep in mind that compliance rules are constantly changing, so it’s
important to keep up with the latest regulations that are relevant to the type of data you are dealing

with.

2.4 Evaluating Data Quality

When engaging in data sourcing, it is advisable to benchmark a few different sources before

determining which one(s) will be the best fit for your needs. There is no exact number, as this

depends on the use case and specific requirements.

Aligning with the Right Data Partners

“When searching for external partnerships, find companies with similar

ideologies to your own, as that can signify a strong connection.”

Vendor Credibility, Reliability and Acumen

Do a quick background search online of your potential new data partner. You can check Datarade

for customer reviews and insights into data providers. Do they have positive reviews from current

and past customers? During the evaluation process, were they easy to reach and helpful in

answering business and technical questions you had? Did they respond in a timely manner?

Leverage data marketplaces, which may be able to provide customer reviews, or give feedback on

business experiences with data vendors.

Data Components: Accuracy and Consistency, Completeness, Timeliness

When benchmarking data from various sources, it's key to understand what to look for throughout

the evaluation process. A good way to compare the different data is to use a comparison

spreadsheet or matrix, summarizing key points of each dataset. The following are some aspects to

keep in mind, throughout evaluation.

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Accuracy and Consistency

Data accuracy is of the utmost importance to ensure the use case that it will be supporting will be
successfully met. Most data providers will provide sample data for you to evaluate. While this is not
necessarily 100% reflective of the entire dataset, it will give you a sense of the data points available,
and provide data for you to compare - either with other data sources, or with an internal
benchmarking dataset. For example, if you are obtaining employee or company data, you may
consider testing the sample against a list of contacts or companies which you know have 100%
accuracy.

360° Approach to Evaluating Data

“When selecting a data provider, companies should evaluate several factors to
ensure they receive accurate, relevant, and actionable data. This includes
verifying data sources, assessing accuracy and completeness to avoid
misleading insights, and considering aspects like coverage, update frequency,
and system compatibility."

Remember to ask key questions such as:

How representative is the data sample of the full set?

What is the method of data collection?

What steps are taken to ensure the data is accurate and free of errors?

Is there a data quality assurance process in place?

Completeness

Datasets may contain various levels of comprehensiveness, covering different attributes, time
periods, or geographic regions. Determine what data must be included as a baseline, then use
that baseline to compare the data received from data providers.

For example, say you are evaluating real estate data prices in a certain city and assessing
different providers. A measure of completeness or comprehensiveness in this case may refer to
the number of properties each vendor can provide data on, the level of historical data available, or
the number of data points available from each vendor.

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Keep in mind that more data does not necessarily equal better data, so its key to balance quality
and quantity, and have a set of baseline metrics in mind during evaluation.

Maximizing Data Value

"When evaluating data, it's crucial to consider all potential use cases and the
elements that add extra value. Our approach involves assessing the data
schema, key metrics, feed frequency, fill rates, and match rate test results. At
this stage, we focus purely on the data's value proposition, commercial aspects
come later.”

Timeliness

Consider the time frame of the data you will need, whether historical, present, and/or future.
Additionally, get a clear understanding of how frequently the data you will procure is updated, as
well as the latency time for the data. Latency refers to how long it takes for the data to be collected,
processed and delivered to its final destination, where it is ready to be used.

Low latency data is generally suitable for applications where a company needs to take immediate
action, for example fraud detection, real-time bidding, or trading. High latency data, marked by a
delay between collection and delivery, can be useful for historical analysis or long-term trends.

Data Verification Matters

“Assess data quality by looking for accuracy, completeness and timeliness of

the data. Cross verify data by comparing external against your internal records
to identify discrepancies and verify accuracy. Implement analytics and
modeling tools to interpret and benchmark the data effectively, aligning
insights with your business goals.”

Comparing Apples to Apples


When receiving data samples from multiple data providers, try to obtain a comparable data
sample for each. This will make it easier to compare the quality, completeness and
comprehensiveness of their data - both against each other and against your own, where possible.

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For example, if you are evaluating Point of Interest (POI) data or footfall data from various providers,
ask for a sample covering the same location and time period to ensure a fair comparison.



If you are looking for comprehensive firmographic or B2B contact data, compare the samples with
data you may already have in your database which you know are accurate, to see how the new data
stacks up to both the known data, as well as to other sources. Where this is possible, it will make
comparing unlike data sources more straightforward, and allow you to notice any inconsistencies in
the data.

Predictive Accuracy is Key

"The most valuable external data isn’t measured by volume, it’s measured by
predictive accuracy. We’ve found that training models on actual conversion
outcomes rather than just intent signals is the key differentiator. When
evaluating data providers, look beyond traditional metrics and ask about
validation methodologies. Are they simply aggregating signals, or can they
demonstrate how their data predicts real-world business outcomes?"

Collaborating Beyond the Initial Fit

“Establish a process for a feedback loop for the data's quality, usability and
effectiveness. Explore opportunities for mutual growth, such as cross
promotional efforts, sharing industry insights or collaborating on new projects
that leverage both companies capabilities.”

The above considerations are a starting point for you to evaluate data quality, as there are hundreds
of types of data, and depending on the use case, various ways to interpret them for your
organisation’s needs in order to ensure a proper fit. In addition, keep in mind how you will keep track
of the data evaluation from various providers.

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Evaluating Data Metrics
There are a number of ways keep track of the evaluation of potential data providers. Beyond the
data itself, there will be other relevant metrics such as delivery, refresh rate, and data source, which
will factor in to your final decision.

First, decide which metrics are most important for your use case, then set up a chart like the one
below, where you can quickly compare the data from different providers.

Provider #1 Provider #2

Data Type / Source 1st party raw
 1st party raw

3rd party aggregated

Volume (No. of records) 700 million 850 million

Fill Rate 98% 99%

Refresh Rate Real time

Real time

Daily
Daily

Monthly
Monthly

Quarterly
Quarterly

Annually Annually

Delivery Options API

API 

Flat file
Flat file
JSON

Compliance Standards GDPR

GDPR

CCPA
CCPA
HIPAA

POPI

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3. Strategies for Successful Data

Partnerships

3.1 Types of Data Partnerships

When considering a partnership with a data provider, keep in mind that there are various types that

exist. Depending on the specific needs you have and how you intend to use the data, it will be

important to understand the various types, and how to approach your procurement journey. Below

are some common types of data partnerships.

Syndicated Data Sources

Companies that specialize in collecting, analyzing, and selling data are called syndicated data

sources. These vendors aggregate data from multiple sources, standardize it, and package it into

reports or subscriptions that businesses can purchase. Examples include market research firms like

Nielsen and Gartner.

Exclusive Partnerships

In exclusive partnerships, companies agree to share data exclusively with each other, typically for a

specific purpose or within a certain market. This arrangement provides a competitive edge by

granting access to unique data and insights that competitors cannot obtain. For example, a

healthcare provider may share patient data exclusively with a pharmaceutical company to aid in

drug development.

Open Data Collaborations

Open data collaborations involve partnerships where companies, governments, non-profits, and

research institutions share data freely and transparently. These collaborations are often designed to

drive innovation, research, or public benefit.

Data Licensing Partnerships

In this model, companies license their data to other organizations for a specific purpose or time

period. This allows the licensee to access and use the data without full ownership. An example is a

mapping company licensing its geospatial data to a ride-sharing app to enhance navigation

services.

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3.2 Building Relationships with Data Providers
While sourcing the right data for your company is of the utmost importance, other aspects of the
data partnerships should also be seriously considered, when choosing data providers to work with.
It’s equally important to consider factors beyond the dataset itself, including vendor credibility,
responsiveness, and reputation within the industry.

The Key to Strong Partnerships

"A strong partnership requires a balanced perspective that accounts for both
sides, not just your own needs. Focusing only on short-term goals can be
limiting, potentially closing doors to greater opportunities. The key to long-
term success lies in understanding what each party brings to the table and
fostering collaboration beyond the immediate transaction.”

Customer Support, Communication and Flexibility

During the initial discussion, data evaluation, or POC phase, did the data provider provide a strong
level of support? When faced with questions about processes and the data, were they responsive
and helpful, taking time to explain any questions or concerns? During the “get to know each other”
phase, any lapses or misunderstandings in communication should be addressed, because if left
unchecked, these may cause larger problems later on, when your systems may be more reliant on
their data.

Consider that in today's global landscape, cultural norms between organizations may differ. Rather
than perceiving this as a blocker, rather acknowledge and consider how this may affect the
partnership, and move forward accordingly.

Set Realistic Expectations

“Be realistic in expectations. These are large data sets and they can take time
to process and provide them. Having direct access to the Customer Success
Team and keeping an open line of communication with them helps mitigate any
issues that could arise from delivery, ingestion, or format.”

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Trust and Transparency
Related to the above points, ensure that data providers can disclose how they collect their data.
This may require signing a Non-Disclosure Agreement (NDA) or a Mutual Non-Disclosure Agreement
(MNDA) with them, if relevant to your use case. You may ask for evidence that they are following
compliance regulations related to their data, and overall operations. Also ensure that any data
provider you choose to work with stays on top of changing laws and regulations that may affect the
data offering they are providing you with.

Demand Transparency

“During my time procuring B2B profile data, I learned that it’s OK to insist on
seeing sample data and ensuring that the specific things you need are
available. We evaluated providers based on data availability, cost, and how
we could get it into our systems, whether via an API, web hook, etc."

Negotiating Data Agreements

When forming a data partnership, it’s essential to establish clear contractual terms, to ensure that
both parties are keeping up with their end of the agreement. Key considerations include

Data rights

Defining data usage rights, compliance requirements, and any relevant exclusivity clauses
Pricing models and cost optimization

Structuring payments based on usage, subscription models, or revenue-sharing agreements
Property rights

Outline intellectual property rights of both parties involved, including ownership, reproduction
and usage rights, as well as for any insights or products derived from the initial data.

Key Contract Terms

"When entering a commercial agreement, be sure to review aspects such as:

the contract length, renewal terms, and exit clauses. Also ensure you retain
data ownership and access after contract termination."

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Future-Proofing & Market Innovation
When choosing a data provider to partner with, consider their attitude towards agility and innovation.
Are they committed to doing things the “old-school” way, with slow moving parts, or are they willing
to innovate and move with the market? As the information age ploughs on with constant
advancements in the fields of AI/ML, technologies are evolving at lightning speed. Depending on how
your business operates, it may be key to have a data provider that is on the forefront of innovation.
However, ensure as well that any provider you partner with does not simply hop on any new trend,
and has tried and tested ways of ensuring data quality and integrity.
While it may be difficult to gauge this fully at the time of partnership, consider questions you may
ask potential partners to measure this:

How do they keep up with changing regulatory environments?

How have their technologies and modes of data collection evolved over time?
How do they incorporate client feedback into their products and processes?
How do they approach research and development?

From Evaluation to Partnership

"Selecting the right provider should be a structured process with clearly
defined stages. The first step is a technical evaluation, where the team
assesses the provider's capabilities and delivers a report that either halts the
process or signals the green light for commercial discussions. This stage is
also an opportunity to gauge the provider’s flexibility and willingness to
negotiate, essential factors for a successful partnership.”

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3.4 Cases of Successful Data Procurement
In this section, we’d like to highlight some data procurement examples between data-buying

companies and data providers who have been working together over months or years, explain the

use cases, as well as reasons why the partnership was successful.

Sourcing Job Data for Recruitment Optimization

A company specializing in using AI to make recruitment more efficient was seeking job
posting and professional profile data to be delivered on a multi-country basis across diverse
industries, in order to help companies find the best talent, as quickly as possible.

How they used the data: The company was seeking a partner that could collect
this data from multiple sources, then provide it to them via an API, on a daily basis.
They then used this data, enriched with their AI solution, to match profiles to job
opportunities, based on the search criteria outlined by their clients.

Key to success: Reasons for a successful collaboration included the breadth and
volume of data that was provided by the data vendor, as well as the number of
sources it was collecting the data from. When the customer explained their needs
and use case, the data provider was willing to discuss how they could increase the
number of sources they collected their data from, in order to provide more
comprehensive data to the customer, as they expanded their operations.

Optimizing Real Estate Acquisition Through Predictive Modelling

A company providing real estate funding and taking over existing mortgages was looking to
find a data partner to provide them with a comprehensive, up-to-date, frequent data feed of
real estate and mortgage data on a national scale.

How they used the data: Their use case was model training, in order to suggest
which portfolios would be most compelling to pursue.

Key to success: Reasons for a successful collaboration beyond a strong fit between

the data required and the data offered by the data provider, included flexibility and

agility on the provider’s side, as the solution required a tailored feed containing

specific attributes, to be delivered in a timely manner to the client’s system, in order

to make close to real-time decisions on which portfolios to act upon.

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 Point of Interest and Foot Traffic Data for Retail Chain Expansion
A coffee chain wanted to expand its coffee chain into a new geographical region where they
did not have any locations nor market intelligence. They aimed to better understand the
market space and foot traffic of brick and mortar stores in the coffee and QSR space, in
order to make data-driven decisions on the best places to expand their locations.

How they used the data: They partnered with a data provider who was able to
deliver POIs, along with aggregated and anonymized foot traffic data within a
platform, to understand the landscape and popularity of locations in the cities of
interest.

Key to success: Reasons for a successful collaboration included the willingness of

the data provider to work closely with the customer to interpret the sample data
provided, as the customer had not previously had experience with evaluating
mobility data. Additionally, because the provider was able to offer a platform
solution, using various layers of data to provide insights, the customer was able to
save time and resources in having to process the data themselves.

The above examples are just a snapshot of the data needs of some companies that we at Datarade
have worked with, and how the right data providers have assisted them. In some cases the data
providers had ready-to-use offerings that could fit the needs of the customer right away, while in
other cases they won over customers by demonstrating their agility, flexibility and willingness to
accommodate the specific needs of the customer.

These examples show the diversity in the application of different data types, the various industries
that can benefit from external data, and the strides that can be made by choosing the right provider
to partner with.

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How Datarade Enables Smarter Partnerships
Data marketplaces such as Datarade, greatly streamline your data procurement process by offering a
centralized way to discover and connect with multiple data providers simultaneously. Thanks to our
pre-established and nurtured relationships with top global data providers, Datarade allows you to
effortlessly browse, compare, and understand the offerings of various data providers, and we also
facilitate introductions for you.

Instead of having to research and reach out to dozens of disparate data sources one by one, then
attempt to understand their data specialty to determine if they're a good fit – data marketplaces do
the legwork for you. At Datarade, we also provide an overview of various datasets, including a data
dictionary and samples, giving you a quick overview of the available data.

Data marketplaces will simplify your search for the most suitable data providers. You will get
centralized access to various data sources in one place, benefiting from the strong relationships that
have already been forged with providers by the marketplace.

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4. Future of Data Sourcing for Enterprise

Companies

As data volumes grow, regulations tighten, and AI-driven technologies are changing the game,

sourcing and integrating data efficiently will become a key competitive advantage.

Leveraging AI and Automation in Data Procurement

AI and automation are transforming data sourcing, making it faster, more accurate, and more

scalable. Instead of spending valuable time searching for reliable datasets, AI can now handle key

aspects of the process.

Automated Data Cleaning


AI detects and fixes inconsistencies in datasets, improving accuracy for analytics and

compliance

Data Augmentation and Imputation


AI fills in missing values and enhances datasets, ensuring you have complete and reliable data

AI-Powered Data Discovery


AI chatbots and recommendation engines help you find relevant new data sources based on

your needs.

4.1 Emerging Trends in Data Sourcing

As a data marketplace, we have direct insight into the latest trends shaping the industry. Through

constant feedback from both data providers and buyers, we see three major trends gaining

momentum in the coming years.

Rise of Data-as-a-Service (DaaS)

The Data-as-a-Service (DaaS) market is projected to reach $76.8 billion by 2030, growing at a

28% CAGR, highlighting how quickly businesses are adopting this model (Grandviewresearch).

DaaS gives you on-demand access to cloud-based datasets, eliminating the need to store or

manage large amounts of raw data. Instead of allocating resources to maintaining databases, you

can subscribe to continuously updated data streams and focus on extracting insights rather than

managing infrastructure.

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The key benefits of DaaS are:

Scalability

Adjust data usage as needed, scaling up or down effortlessly
Cost Efficiency

Pay only for the data you use, reducing unnecessary storage and processing costs
Faster Insights

Get instant access to structured, pre-cleaned data, accelerating decision-making.

Expansion of Data Marketplaces

Online data marketplaces are changing how companies acquire third-party data. Instead of going
through complex vendor agreements, you can:

Browse centralized data catalogs to quickly find relevant datasets

Access pre-vetted data providers with transparent pricing
Ingest data in real-time via APIs, keeping your insights up to date.

For example, Datarade lets you view external datasets instantly, cutting procurement time from
months to days.

Sustainable & Ethical Data Sourcing

As mentioned in Chapter 2, there are growing concerns about data privacy and environmental
impact, responsible data sourcing is becoming a priority. Companies are:

Reducing data storage waste


Strategic lifecycle management can effectively reduce storage costs for enterprises
Moving to green data centers

Cloud providers are adopting renewable energy and optimizing cooling to lower their carbon
footprint
Ensuring ethical data practices

Compliance with GDPR, CCPA, and other privacy laws is essential to building trust.

4.2 How to Future-Proof Your Data Sourcing Strategy

As AI transforms data procurement and external data sourcing becomes a business necessity,
organizations must ensure their strategies are adaptable, scalable, and future-proof. The
companies that will thrive in this data-driven landscape are those that invest in people,
technology, and flexible sourcing models.

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To stay ahead, businesses must focus on three key areas. The following table outlines key actions
that businesses can take today to ensure their data sourcing strategy remains robust and ready
for the future.

Strategy Why It Matters Key Actions

Upskill Your Team for AI & AI-driven data sourcing Invest in data literacy
Data Procurement requires skilled training for all employees.
professionals.
Hire AI and data engineering
specialists to lead
automation initiatives.

Encourage a data-driven
culture by designating
internal data champions.

Build a Data Sourcing Standardize formats and Adopt flexible architectures

Strategy structures across all like data mesh to
sources to streamline decentralize data
integration, comparison, ownership.
and analysis.
Diversify data suppliers to
ensure redundancy.

Implement strong data

governance to maintain
compliance and security.

Leverage External Data Relying on external data Identify key data sources
Marketplaces & DaaS sources ensures you that align with your business
always have access to objectives.
high-quality, updated
Regularly assess new
datasets.
datasets to improve
decision-making.

Partner with trusted,

compliant data providers to
reduce risk.

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5. Conclusion

Data sourcing should be top of mind for all enterprise organizations, specifically those who want

to stay ahead of the curve, in the rapidly evolving data age, as these are the ones that understand

the benefits, insights, and robust analytics that can be drawn from external data. This guide

aimed to give you an overview of some of the key considerations that you should make when

embarking on your data procurement journey, including:

Benefits and examples of how companies can utilize external data in their operations and

decision-making processes (Chapter 1)

Ensuring that the data procured aligns with the goals and needs of your organization, as well

as key considerations when evaluating data, including data quality, integration and compliance

(Chapter 2)

Tips for choosing the right data providers to partner with (Chapter 3)

The future of data sourcing, including AI-driven automation, the rise of DaaS, and emerging

trends in sustainable and ethical data sourcing (Chapter 4).

Along the way, we also included insights and tips from experienced industry leaders that we have

worked with, regarding best practices on data sourcing as well as choosing the right providers for

your organization, based on your needs.

We hope that this guide shed clarity on the process of procuring external data, and that you took

from it some nuggets of information that you can apply to your own data journey.

If you would like our support in getting you connected with top global data providers across

various industries, visit us at Datarade.ai, one of the largest data marketplaces in the world. Post

your data request and let providers from across the world come to you!

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Find the right data, effortlessly.

Post your data request Visit website