Data enrichment is the process in which an organization’s raw supplier data is enhanced and improved upon. The focus of data enrichment within supplier diversity is to provide visibility of certified diverse suppliers within an organization’s supply base. Enrichment practices can take anywhere from one week to a few months depending on a company’s active supply base.
Data Enrichment is usually done to discover new diverse suppliers within an organization’s supply base or update information on current diverse suppliers on an annual basis. This information is then used for internal reports to department heads or external Tier II and government reports.