How Well Do You Know Your Data Partner? Ask Them This To Find Out.

Choosing the right data partner is like choosing the right mountain guide.

You need someone who's knowledgeable and fearless. But there's more to being a guide than that.

There's also the element of trust.

Can you count on this person to do the right thing in a high stakes situation?

Do they have what it takes to keep you in the clear if something goes wrong?

Ask your potential data partner these questions to see if they're up to the task.

How much of your data is true data?

Fraud in the data industry is notoriously challenging, so understanding the extent to which a vendor is invested in true location data is critical. The more transparent your partner can be around this metric, the better.

What policies and procedures do you have in place to find and remove data on demand?

Data privacy and compliance are significant concerns in today's digital age. Vendors should have robust data management practices in place, such as the ability to identify, isolate, and delete specific data upon request, to comply with regulations such as the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA).

Did you thoroughly vet my use case before releasing data to me?

This is more of a question for you as it reflects on the vendor's diligence regarding data privacy and security. A rigorous vetting process and requirement for legal agreements typically indicate a responsible vendor who values data protection, understands its obligations, and respects client confidentiality.

Do you have the operational and financial resources to maintain industry standards?

The data industry has high standards for ensuring data quality, security, and compliance. Ensuring your vendor has sufficient operational and financial resources is important not only for their ongoing ability to provide quality data but also for their resilience to potential data breaches or legal issues.

What do you have in place to identify fraudulent data?

Fraudulent data can significantly compromise data quality and reliability. Therefore, it is vital that the vendor employs robust data validation and verification methods, including machine learning algorithms, anomaly detection techniques, and manual review processes, to identify and eliminate such data.

How do you understand sophisticated fraud schemes that recycle “real” data?

Sophisticated fraud schemes, such as those that recycle 'real' data, present a complex challenge for data vendors. A deep understanding of such schemes and the implementation of advanced anti-fraud technologies (like behavioral analysis and pattern recognition) demonstrate a vendor's commitment to protecting data integrity.