Why Company Data Matters
Your Data Business – Series, Issue #3
We spoke with Divna Djordjevic and Diego Sanvito. The team works on behalf of Cerved on the Tender Discovery Service (TDS). TDS supports companies in perusing new business opportunities. Cerved’s approach is to interlink company information, past participation and/or explicit interests giving to their clients clues about trending business opportunities.
Divna, why is company data so important for Cerved?
Cerved is an Italian data-driven company – our data enables us to provide high added value services, with focus on Credit information and Marketing & Sales. Our job is to help our clients interpret the present and to face the future with confidence. Across Italy, over 30,000 businesses and financial institutions rely on us in different phases of their work. We give our clients the data to guide their decisions, the tools to understand it, and a team of people to turn it into action.
What has Cerved worked on lately?
The TDS team has focused on data enrichment and interlinking company and company related data:
- We developed a machine learning approach for better categorization of tender calls based on the title of call and going beyond common procurement vocabulary (CPV) tags.
- Named entities for places and keywords from tender content helped us redefine the content and improve geo referencing of tender calls.
- Finally we enrich the content of each tender call with a multi-label approach based on named entities and Italian data specific categories.
We advanced our tender recommendation approach by modeling the expected behavior of a company, i.e. moving from public tender to similar public tenders recommendation approach, to include proposing similar tenders using also past tender notices. The latter relying on historical tender participation and approximate k-nearest neighbors algorithm for building a forest of similarity trees.
Diego, could you tell us what’s in it for me as a customer?
In scope of digital marketing solutions we constantly seek out new ways for profiling and lead qualification services, as well as diligently studying the market and individual sectors to help our clients find new business opportunities. Hence TDS is aimed at marketing and sales leads in large, SME and small companies facilitating search for prospective customers and business growth.
How does your work make a difference?
TDS aims at enabling customers to easily and quickly identify pertinent open public administration tenders, tailored to customer interests and company profiles. The service is a truly data driven solution relying on interlinking rich company data with open and historical tender calls.
Could you both tell us which challenge lie ahead of you?
Assuring extensive Public Administration (PA) tender coverage for Italy and harmonization data coming from numerous data sources is a continuous challenge as the underling PA initiatives are fragmented and subject to constant changes.