Generate a similarity score algorithmically between two company/organization names using a data context aware approach.
Sometimes it is useful to compare two company/organization names programmatically to see how "similar" they are.
Interzoid has an organization name match scoring API that compares two organization names for similarity and provides a score from 0-100. The closer to 100 the score is, the likelier the two organization names are a match. In practice for example, a threshold score of 50 or higher could constitute a match candidate. Then, if desired, additional logic could also be applied (such as comparing other data elements) before a business process such as consolidating two records into one or rejecting a new company name record entry are performed.
Heuristics, phonetics, specific knowledge bases, categorization hierarchies, spelling analysis, language derivations, contextual machine learning, and other various algorithms are used as the basis of scoring the match.
While there are string comparison algorithms available elsewhere, unless you utilize a scoring mechanism that considers the context of the data and the unique nature of company and organization names, you will have limited success.
For information on how to make use of the API, including code examples, visit here.
Along with our Company Name Similarity Key API, it can be an important tool in your data preparation arsenal.
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