Business Data Quality

One of the most frequently asked questions at Responsiva is how recently our data has been updated. As a data list broker, strictly speaking it isn’t “our” data; Responsiva supplies prospect data from a business data universe which has been amalgamated from numerous well-respected b2b data sources. A list of these data sources can be found on the Responsiva home page.

Because the full b2b data universe comprises more than three million trading entities across the UK, it isn’t feasible to identify and report on precisely which records were last updated on which specific dates. However, all of the feeds into this business database have their own update process. The business data industry standard is to ensure that all companies are telephoned at least once per year for a verification and update. Any b2b data source which doesn’t operate in this manner would not be included within Responsiva’s preferred choice of data list sources. Or (as with Companies House data) used solely to gap-fill fields such as company turnover.

Responsiva conducted a customer survey throughout 2010, which resulted in 92% of business data buyers stating that data quality was more important to them than price, speed of service or any other aspect. A short video of these statistics is available here :

It is a particularly interesting statistic, because in reality most buyers are more keep on price when it comes down to the final decision. This is most likely because there is no other information to go on at the front end; all data list brokers will say their data is of top notch quality, so what else can the buyer do? That’s why Responsiva provide free data samples with every quote, and an earlier blog covers what you should do with these samples to test their quality. See here for more information:

By testing the quality of the sample data list, a buyer can be sure to make their decision on the one true element that matters to them. i.e., quality. Responsiva’s data is guaranteed in quality. At least 98% of the postal addresses and phone numbers will be accurate. Usually this is around 99%. And although there has yet to be a claim against this guarantee, it is something that we stand by and will credit (or refund) any excess.

Email addresses are a different matter, as they decay faster. So there is a guarantee of no more than 5% in hard bounces. Soft bounces will typically generate an additional 5%. But Responsiva are always happy to negotiate additional email addresses into the proposal to cater for this and ensure a satisfactory deliverability of your email list broadcast.

So when you are next looking for quotes (and haven’t made any firm decision on your preferred list broker) be sure to ask for samples and then test those samples. Price really shouldn’t come into the equation; it’s all about the business data quality. And only then should price and service be included as a secondary consideration. It only takes an hour to call 20 samples and sense-check their accuracy, and this will be one of the best investments of time you can spend before choosing your preferred supplier.