Data Sources Explained, Compared — and Combined
This is the information era. Data is everywhere and it’s readily available and easily obtainable. Good data often comes from a number of sources, compiled and combined for your specific needs. Understanding what’s available is step one in putting this intelligence to work for you and your business.
Let’s take a quick look at specific sales lead data sources:
Salesgenie, a division of Infogroup, offers an online service for compiling and managing lists of sales prospects. Salesgenie compiles information from a wide variety of sources and offers names and contact information in an easy-to-access format.
Hoover’s, a Dun & Bradstreet company, maintains a database of 66 million companies and 85 million people using an in-house staff that constantly confirms and updates this information. Hoover’s also publishes some analytical information through its Index pages, Bizmology and BIZ blogs.
InfoUSA is one of the largest and oldest mailing list providers in the country. It tracks 17 million businesses by industry, number of employees, location and contact information. InfoUSA also provides a database of 210 million consumers, compiling age, income, and other information that’s publicly available from other sources.
Dun & Bradstreet, a 170-year-old company, offers a database of businesses along with credit ratings and individual contacts at the companies. Created in 1962, the Data Universal Numbering System or D-U-N-S® Number is D&B’s copyrighted, proprietary means of identifying business entities on a location-specific basis. This unique nine-digit identification number has been assigned to over 200 million businesses worldwide.
EDA has been the leader in providing clean UCC information for nearly 25 years, and has offered market insight to customers in a variety of industries, including agriculture, capital markets, construction, copiers, lift trucks, logging, printing, machine tools, trucking and woodworking industries.
There are several considerations you should make when sourcing data for your business. Lists are simply that – static information. You’re still going to have to work to make that type of information rich and useful for your business. Volume of information may not be quality information.
Companies like EDA have people scrubbing the data, parsing it, and adding information from other data sources, and it’s based on UCC filings. There are specific pieces of equipment in this data, and with that information you know when it was bought, and this is where it starts to become powerful.
Finally, remember that no one information source can tell you everything you need to know. You may have to combine sources to get exactly what you need for your business.