Vendor Selection Matrix™: Updated Evaluation Criteria
by Dr. Thomas Mendel P.D., Managing Director Research In Action.
Every year, Research In Action surveys 10,000+ enterprise IT and business decision makers in order to gain insights on strategy, investments and ongoing challenges of technology innovation in the IT and marketing automation realm. These surveys feed our Vendor Selection Matrix™ reports and give us access to a wealth of direct and unfiltered feedback from the buyers. It also helps us to understand how buying decisions are made in today’s business environment.
In contrast to most other offerings that rank vendors, the Vendor Selection Matrix™ research process begins with a survey of leading enterprise IT or business decision makers which provides 62.5% of the comparative vendor evaluation. This provides a true outside-in view that is built on the most important benchmark available – the voice of the customer. An analyst subject matter expert then adds input via a combination of intensive interviews with software or services vendors and their clients to finalize the vendor evaluation. The final result is an informed and independent study including independent points-of-view and perspectives on vendors all combined into the Research in Action Vendor Selection Matrix™. This approach is a one of the key differentiators of Research In Action in market research.
As the Vendor Selection Matrix™ enters its 10th year of existence we decided to update the evaluation criteria to reflect one of our key innovations of 2019: The Research In Action Recommendation Index. The Research In Action Recommendation Index is collected and calculated by asking the survey participants “Would you recommend this vendor in this market to your peers – Yes or No?”. It was originally introduced as an additional stand-alone data point but is now included in the strategy axis of the Vendor Selection Matrix™ as we received overwhelmingly positive feedback and many of the IT and business decision makers have asked us to include the Recommendation Index in our strategy scores.
These changes in our Vendor Selection Matrix™ evaluation criteria will be reflected in all upcoming Vendor Selection Matrix reports.
To infinity…and beyond!