Condensed...
Step #1. Compile a list of vendors
Step #2. Determine what information is most important
In our case, it was:
-- > Contact name
-- > Job title
-- > Company name and company address
-- > Contact phone number and company phone number
-- > Industry/SIC
-- > Revenue
Step #3. Weigh each record field by value
Assign weighted values to each of the appended items depending on your needs. For instance, if job title is most important, then give it a higher weight than company address.
Step #4. Use a large enough list to sample test vendor accuracy
We started by taking a list of 100 records we knew to be highly accurate and stripped out some of the data. Next, we added those 100 records to a list of 900 additional records to create a test list of 1,000 total records that we sent to each vendor.
Step #5. Add up the scores and consider any other factors
The vendor with the highest score from your testing will likely be your best choice, but there are factors of completion time, size, cost and complexity of data to consider in your overall decision.
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