Firstly, I would like to add that you should be very careful when using any form of Phonetic/Fuzzy Matching Algorithm, as this kind of logic is exactly that, Fuzzy or to put it more simply; potentially inaccurate. Especially true when used for matching company names.
A good approach is to seek corroboration from other data, such as address information, postal codes, tel numbers, Geo Coordinates etc. This will help confirm the probability of your data being accurately matched.
There are a whole range of issues related to B2B Data Matching too many to be addressed here, I have written more about Company Name Matching in my blog (also an updated article), but in summary the key issues are:
- Looking at the whole string is unhelpful as the most important part
of a Company Name is not necessarily at the beginning of the Company
Name. i.e. ‘The Proctor and Gamble Company’ or ‘United States Federal
Reserve ‘
- Abbreviations are common place in Company Names i.e. HP, GM, GE, P&G,
D&B etc..
- Some companies deliberately spell their names incorrectly as part of
their branding and to differentiate themselves from other companies.
Matching exact data is easy, but matching non-exact data can be much more time consuming and I would suggest that you should consider how you will be validating the non-exact matches to ensure these are of acceptable quality.
Before we built Match2Lists.com, we used to spend an unhealthy amount of time validating fuzzy matches. In Match2Lists we incorporated a powerful Visualisation tool enabling us to review non-exact matches, this proved to be a real game changer in terms of match validation, reducing our costs and enabling us to deliver results much more quickly.
Best of Luck!!