Would you trust credit decisions from a company whose data is so corrupt? I was doing a Google on myself and I came across this website: http://www.corporationwiki.com/p/2ia9yb/wayne-spivak The data discovered is very funny: - It states I'm the President and
Dun & Bradstreet
Answers
We've always found the best info comes from the source. When opening a line of credit for a customer, we email or fax a request to their trade references that asks the basics. It's proven to be more beneficial than what D&B could offer.
I agree - D&B does have too many mistakes. The individual credit reporting agencies (Experian, etc) also are full of errors.
Never. D&B is outdated in their methods of collecting data as well. How can their predictive data be worth anything if their historical data (and their erroneous data gathering methods) is inaccurate?
Obviously, you can tell I am not a fan of D&B and I admit it. I remember years ago, they called and wanted us to pay $10k to $30k to be members and threatened that if we didn't, they would reflect negative information on our report. I believe they were eventually sued for it.
I believe they have a very overpriced product. There are some great products out there that use better data analytics.
A cautionary tale: I was recently tasked with updating our small company's D&B profile with details of its recent acquisition, including an entirely new slate of officers and directors. After laboriously inputting screen after screen of info (including uploading various documents as "proof" of the changes), a final screen informed me that the information would be reviewed and, if acceptable to D&B, the profile would later be updated. About a week later the email arrived and stated that the updates had been rejected because D&B had been unable to reach anyone at the company by phone to verify them!! In fact, no one from D&B had ever called. We have now lost all interest in D&B.
Agreed. D&B’s information is generally old, and unreliable. And yes, they are entirely too costly.