B2B Transaction Data
The Ultimate Guide to B2B Transaction Data 2021
What is B2B Transaction Data?
B2B stands for ‘business to business’. For example, when a manufacturer enters into a business agreement with a wholesaler to help enhance the manufacturer’s supply chain in bringing the manufactured goods to the consumer, this is a B2B type of transaction. Unlike a business-to-consumer (B2C) transaction that involves a business and a private consumer, B2B is usually conducted to help the company achieve its supply chain key performance indicators (KPIs) and the sums of money are typically larger than B2C.
How is B2B Transaction Data collected?
The collection of B2B transaction data is accomplished in the modern business environment through e-commerce. The internet has allowed businesses to find out about the products and services they need, and B2B ecommerce platforms the groundwork for future business-to-business transactions. In the contemporary B2B e-commerce business environment, companies have embraced the internet through the designing of company websites that are designed in such a way that interested parties that wish to learn about a business’s products or services can obtain that information from the website. Therefore, for B2B transaction data collection, highly advanced specialized website units are designed to provide information about particular industries, companies, and the products and services they provide hence facilitating B2B transactions.
What are the attributes of B2B Transaction Data?
B2B transaction data is made up of attributes that are the basic tenets of any given business transaction. These attributes are many, depending on the type of business that the two businesses are involved with and the personalized agreement. However, B2B transaction data is generally made up of transactional data such as orders, invoices, shipment notices, delivery notes, and supplier data. Transaction data is made up of large invoices that are paid all at any given time involving a lump sum amount of money. This data also shows the time of system the two businesses transact through. This can either be an open-ended network that is accessible to a third party, or a closed-loop network system that only allows the two businesses to have control of information about the transactions.
What is B2B Transaction Data used for?
As businesses and consumer worlds continue to transform hence leading to the creation of more data, businesses are increasingly becoming aware of the importance of using data to reap maximum benefits by staying ahead of competitors. Through B2B transaction data, businesses can better understand and discover the best actionable insights about the business. This data gives businesses specific pieces of information that tell the business about spikes in demand, customer preferences, and shifts in client buying behavior. Understanding information about the customer as provided for by another business during a transaction helps businesses improve customer experiences and buyer journeys while fabricating easier and more secure ways to make online payments.
How can a user assess the quality of B2B Transaction Data?
When assessing the quality of B2B transaction data, users need to assess both the aspect of usefulness and satisfaction. Thus through process quality and collaboration quality, a user can assess the quality of B2B transaction data by looking at the degree of accuracy, the level of completion, and the time when the data was collected, to ensure that they’re buying the most valuable B2B transaction data for their use case.
Who are the best B2B Transaction Data providers?
Finding the right B2B Transaction Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular B2B Transaction Data providers that you might want to buy B2B Transaction Data from are Automaton AI, Photon Commerce, DataPulse, MedMine, and Epsilon.
Where can I buy B2B Transaction Data?
Data providers and vendors listed on Datarade sell B2B Transaction Data products and samples. Popular B2B Transaction Data products and datasets available on our platform are Automaton AI: Adapt AI - Tabular Data Pre-processing Tool (AI & ML Data) by Automaton AI, Photon Commerce - Automatically capture and extract invoices and receipts by Photon Commerce, and DataPulse WIX Worldwide Data - key revenue source data; Paying clients |Domain reg’s (3) Email services. by DataPulse.
How can I get B2B Transaction Data?
You can get B2B Transaction Data via a range of delivery methods - the right one for you depends on your use case. For example, historical B2B Transaction Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time B2B Transaction Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to B2B Transaction Data?
B2B Transaction Data is similar to Credit Card Transaction Data, Point-of-Sale (POS) Data, Loyalty Card Data, Consumer Transaction Data, and Debit Card Transaction Data. These data categories are commonly used for B2B Transaction Data analytics.