Over the course of a year I probably receive at least one press release each week from some company telling me they’ve been named by an analyst firm as a leader in their chose field or niche. Typically, the release will start something like “Company X has been named a Superhero in the Consultant’s League of Heroes for disarming bombs”. But do these accolades even matter?
Winners at podium image on Shutterstock
Whenever I’ve been involved in buying new tech or hiring a new consultant to work with I’ve gone with references, site visits and case studies that I’ve been able to personally verify. The analysts’ reports are useful for getting a list of potential vendors together but I really don’t pay much attention to rankings on consultant reports.
Over the years, I’ve probably become a bit cynical as the reports rarely, if ever, nominate products or vendors to completely avoid. So, I get the feeling there’s some inherent bias in the reports.
What do you think? Are analyst reports worth the paper they’re printed on? If you find them valuable, how do you use them?
Comments
2 responses to “Are Analyst Rankings Worth Anything?”
Watch the documentary called Inside Job (2010). It confirmed my suspicions about Analyst Rankings/Ratings, especially from established, reputable sources.
These were a few words from IMDB,
“Three ratings agencies made fortunes bestowing unwarranted ratings right up to two days before Lehman failed, later testifying before congress that these were merely “opinions”, not guides for investors.”
For the most part, all industry awards are a load of rubbish. firstly it’s only between those who choose to register, and often they’re just self-serving garbage in the end.