Question & Answer

Question: I am being deluged with calls and offers from companies about their products for HMDA, CRA and geoanalysis. What can I do to evaluate the quality and capability of geocoding vendors? I'm not sure what questions to ask.

Answer: First, think about what you need. Set out your list of the kind of data you need to analyze. Decide what you need to know to manage your CRA program and what questions you will have to answer.

Then decide what kind of reports and maps you want. Give heavy thought to what reports and formats would be most effective in your working environment.

The hardest part may be to think about what type of product you can actually use, given your time, skills, and staff resources. Remember, if it is software, you or someone you have reliable access to must be able to master and manipulate it.

Third, look at cost over time. Is the product worth its cost or can you perform some of the tasks in less expensive ways. You need to decide precisely what you need to buy and what you already have. Paying more for software to do the job in-house may be an economy in the long run. On the other hand, if you lack the staff time to do the work in house, purchasing the analysis and reports from a vendor may be the real economy.

Finally, test any product before you buy it. Play with it. If the vendor is confident of their product, they should be happy to give you a trial period. You need to be certain that you really can use the product and get what you need from it.

The bottom line: be careful and don't pay too much.

Copyright © 1996 Compliance Action. Originally appeared in Compliance Action, Vol. 1, No. 18 & 19, 12/96