EQUIFAX DELIVERS UNSURPASSED DATA QUALITY TO HELP PARTNER CREATE SMB OFFERING
High quality data with sophisticated organizational hierarchy result in the right combination for financial information and analytics partner.
Our partner, a publicly traded financial information and analytics company that provides ratings on Fortune and Global 2000 companies, was well versed at delivering ratings and insights on the credit worthiness of the world’s largest enterprises. However, when they decided to enter into the business of delivering market intelligence on small and mid-sized businesses (SMBs), they weren’t satisfied with their data quality. When it came to market segmentation and business contact information, their previous data sources were introducing an unacceptable level of noise.
They needed a partner to provide them with high quality data, serving as a source of truth on the SMB ecosystem. And, they needed a partner who was as sophisticated as they were, and could dig into strategy and analysis alongside them as they developed the SMB offering.
Data Quality and Analytics Plus Strategic Insights for the Win
Our partner wanted information such as business size, number of employees, revenues, and location so that they could perform segmentation analysis to produce marketing lists for their clients. With more than 30 million SMBs in the U.S. and no strict financial reporting requirements, such details aren’t always easy to come by.
After a competitive bid, the financial information and analytics company decided to partner with Equifax, licensing the Equifax Marketing Data Services (MDS) data file, which includes more than 43 million records in the U.S., and is used for marketing, customer and supplier data management, and analytics and fraud prevention. MDS data file includes firmographic information — such as business names, addresses, industry coding, revenues, and number of employees — and commercial credit scores. Equifax regularly analyzes the database to assess whether a business is marketable, active, or out of business.
Our partner was targeting businesses with at least 10 employees, so Equifax took that segment of the market, analyzed it, and combined it with other data to help them develop predictive, insightful SMB marketing services for their clients.
An Emphasis on Quality for High Level Business Identification and Coverage
Our partner chose to work with Equifax because of our great data and strong strategic alignment. Equifax delivers guidance and recommendations alongside our MDS file. We don’t just deliver data and walk away. We understand our partner’s issues, and also have the data and analytics capabilities to complement their strengths.
Preparing for a 2021 Launch
We’ll be working closely with our partner to analyze the offering to help them determine how best to bring it to market. With a focus on testing in 2020, Equifax is working closely alongside them to ensure that they’ll have a premiere SMB offering when they go live in 2021.
The Equifax Commercial Marketing Data Services (MDS) database includes over 43 million business records in the U.S. This unique data asset helps clients ensure the highest level of business identity verification and fraud prevention.
To learn more about how the MDS database can improve data quality, reach out to email@example.com.