A Data Universal Numbering System (DUNS) Number is a nine-digit numerical identifier issued by the Dun & Bradstreet corporation for business entities. It is used to accurately identify and keep track of the hundreds of millions of businesses located in the United States and worldwide. The DUNS number is one of the most trusted and widely used databases used to identify businesses and government entities that needs to be used to conduct business abroad or to apply for government contracts.

The DUNS Number was created by Dun & Bradstreet in 1963 to address the need to standardize global business identification and to provide a mechanism to better understand risk associated with business credit. The number is assigned permanently to an individual or business and is used to track the business's financials, payment history, and other related information.

Applying for a DUNS number is free for U.S companies and is essential for businesses who wish to conduct business globally, receive federal grants, land government contracts and more. DUNS is widely accepted with global entities where other local brand numbers may not be recognized. It is provided to companies who need assurance that the business entity they are interacting with is legitimate and legitimate businesses can use this number to verify their identity to potential partners.

To keep track of all the businesses who have DUNS numbers, Dun & Bradstreet hosts a Master Business Database with over 4 million records. This is a regularly updated and active list of businesses, their credit scores, and their history of payments. This allows other businesses who are unfamiliar with the company to easily access information to evaluate risk or trustworthiness. All reports regarding current or potential customers/partners should be checked against the Dun & Bradstreet database to make sure the business being dealt with is legitimate and trustworthy.

In conclusion, the Data Universal Numbering System (DUNS) Number is an extremely important nine-digit numerical identifier issued by Dun & Bradstreet to accurately identify and keep track of businesses worldwide. It is free to U.S companies and is often necessary to conduct business abroad, or to apply and receive grants or land contracts from the government. Furthermore, it provides businesses a reliable system to verify the trustworthiness of potential partners and clients.