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New & Notable at Procurated: Update to Star Ratings
Announcing a Change to Our Star Ratings
As the procurement space evolves to become even more complex, we, at Procurated, understand the importance of staying ahead of the curve. We are excited to announce a major change to our ratings algorithm that is sure to better serve both public sector buyers and sellers.
Over the past few months we've done extensive research with both our SLED partners and our suppliers to gain insight into how some of the macro-economic trends are impacting the current state of procurement. Your collective feedback has been invaluable. Driven by these insights we feel confident that this update to our ratings algorithm will elevate the value of Procurated's scores and offer public sector buyers more releveant and accurate information about the supplier partners on our platform. As always, our mission is to connect public procurement officials with the supplier performance insights that matter - because in this space, every decision is critical.
What's Changing - Factoring in Recency
Our ratings will now consider the recency of reviews as a key factor in calculating the overall score for suppliers like you. This means a supplier's rating will be even more reflective of current performance, giving potential customers a real-time snapshot of their product/service.
Impact to Scores
This change means that a supplier's most recent reviews will have a more significant impact on their overall score. To ensure that a rating is always current, overall ratings will be calculated once per day. When a new review is submitted, we will promptly recalculate the score to reflect the latest feedback accurately. For many of our suppliers, this shift will not meaningfully impact their existing score. However, suppliers can expect scores to change as time progresses - particularly if the have not generated any additional reviews recently.
With this adjustment to our algorithm, we are eager to facilitate stronger connections between public sector buyers and sellers, ensuring a mutually beneficial partnership.
As the procurement space evolves to become even more complex, we, at Procurated, understand the importance of staying ahead of the curve. We are excited to announce a major change to our ratings algorithm that is sure to better serve both public sector buyers and sellers.
Over the past few months we've done extensive research with both our SLED partners and our suppliers to gain insight into how some of the macro-economic trends are impacting the current state of procurement. Your collective feedback has been invaluable. Driven by these insights we feel confident that this update to our ratings algorithm will elevate the value of Procurated's scores and offer public sector buyers more releveant and accurate information about the supplier partners on our platform. As always, our mission is to connect public procurement officials with the supplier performance insights that matter - because in this space, every decision is critical.
What's Changing - Factoring in Recency
Our ratings will now consider the recency of reviews as a key factor in calculating the overall score for suppliers like you. This means a supplier's rating will be even more reflective of current performance, giving potential customers a real-time snapshot of their product/service.
Impact to Scores
This change means that a supplier's most recent reviews will have a more significant impact on their overall score. To ensure that a rating is always current, overall ratings will be calculated once per day. When a new review is submitted, we will promptly recalculate the score to reflect the latest feedback accurately. For many of our suppliers, this shift will not meaningfully impact their existing score. However, suppliers can expect scores to change as time progresses - particularly if the have not generated any additional reviews recently.
With this adjustment to our algorithm, we are eager to facilitate stronger connections between public sector buyers and sellers, ensuring a mutually beneficial partnership.
You Asked. We Acted.
We value your partnership with us, and this update is just one of the many ways we're working to enhance the experience on our platform based directly on feedback from our users.
Please reach out to me (becca@procurated.com) with any suggestions. We'd love to hear from you!
We value your partnership with us, and this update is just one of the many ways we're working to enhance the experience on our platform based directly on feedback from our users.
Please reach out to me (becca@procurated.com) with any suggestions. We'd love to hear from you!
Published on Jul 19, 2023
