Few years ago, determining similar companies can be a pain in the neck. Imagine hundreds of thousands of companies, and you need to check each of them to determine which one is similar with the other. Gladly not anymore - thanks to DataFox. With our application, it is now very easy and quick - a list of similar companies will be shown just in a few seconds after a few clicks.
In general, similar companies are generated using 3 factors:
- Similar industry keywords: Using similar keywords on company profiles, we look at the prevalence of those keywords on other company profiles;
When the list is shown, you can then narrow down the similar companies by adding more filters (e.g., number of employees, location).
- Sector lists: We publish sector-focused lists (e.g., Top 50 Fintech startups), and if multiple companies appear in the same sector-focused list together, that similarity factors in the algorithm;
- News co-mentions: If a news article mentions Twilio as a competitor to Plivo, Nexmo, and Zang, that factors into the algorithm
Here is a short guide on how to run similar companies on a list.
Voilà! Now you know how to determine similar companies. Questions? Feedback? Your Customer Success team is here to help! Give us a shout at firstname.lastname@example.org for help with determining similar companies or any other questions you have. Thanks!