Why we update RTICs
Annually, our Real-Time Industrial Classifications (RTICs) undergo updates to verify company status (dissolved or unavailable companies), ensure URL matches, capture or add new companies, incorporate new keywords, and improve data accuracy and relevance.
The above image shows RTIC updates over the past few years - updated 20th December 2023
Verify company status
If a company no longer exists or has been dissolved, they are removed from our RTIC list.
Add new companies
When we retrain our machine learning list, new companies that have been recently formed but were not captured in the previous list are added during the update process. In some cases, a few companies that were not captured by the training process but are in some way relevant to the sector we are updating are also added manually.
Add new keywords
Our experts may discover new keywords that will improve the accuracy of our machine learning model's classifications. These new keywords are added as part of the keywords used during the updating process.
Improved data accuracy and relevance
To enhance data accuracy and relevance during the RTIC update, we rerun the machine learning list for each vertical and conduct a thorough quality assurance process, which includes checking if the company URLs are correct and checking if the companies we have on the list are supposed to be there.
Updated RTICs
Once the update process is complete, we release the updated RTIC to our platform, as shown in the image below.
Newly updated RTIC have “revised” labels on them, which remain for a month after release before the revised label goes out.
