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How To Choose The Right Data Vendor

Jessica Wilson
How To Choose The Right Data Vendor

A data-driven organization is 162% more likely to surpass its revenue goals. A non-data-driven organization company is only 58% likely to achieve revenue goals. 

More often than not, marketing executives talk of being data-driven. However, how do companies achieve such a status? You can either form a data department in your company or contract a company to do it for you.

Unfortunately, forming a data department will take a lot and might cost you a fortune. Several data firms are available online. They all offer similar services, although it’s vital to discern the genuine from the fake. 

Guide to Choosing the Right Vendor 

Here are several things to consider before settling for a data vendor:

Compare the vendor’s data with data you have 

Every company has some data about their customers, big or small alike. You may not be as updated on digital data, but physical data collection is usable across the board.

When acquiring the services of a data vendor, you might require foot traffic data. If the data they provide matches what you have gathered, the firm is legit. 

Get some referrals

Vendors with a good reputation have no issues referring you to their previous clients. Allowing you to speak to companies they have worked with proves that they have nothing to hide. 

A data firm can convince you that they have the right services for your company. However, their clients drive the point home even better. Ask the clients about how the services benefitted their companies, and ask about the firm’s level of service. 

Monitor their transparency and potential biases 

Transparency is a pillar in any customer-client relationship. In this case, the vendor must be open about the nature of its data. 

Inarguably, most datasets have bias. That does not compromise their value. However, it’s vital to know when analyzing the data if any information is biased or exaggerated. 

Ask for a Test Period 

Once you choose a data firm to work with, the contract might last longer than 12 months. That is a long time, especially when you are unsure of its credibility. 

Ask the vendor if they are willing to give you a test case to see what exactly they can do. If they cannot offer it for free, check to see if they can do so at a subsidized cost. 

Check if it is customizable or scalable


It is vital to find a data solution that is customizable to your company. Companies have various needs, and getting custom data solutions goes a long way. 

On that note, a data provider that can grow with your company is great for you. As you progress, they must adjust effectively. That’s scalability.

See if the vendor is willing to educate you 

Providing data is not the end of good service from a data vendor. The work doesn’t end with giving the data. You should find out if the firm is willing to teach your team about data analysis. This will be helpful, especially if you’re new to it. 

Guiding you further helps the organization be more comfortable dealing with data. 

A data firm must add value to your organization by providing accurate data and guiding you on utilizing the data. There are over 300,000 data companies in the U.S. Although some are money-thirsty, the majority are credible and result-driven.  

Jessica Wilson
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