As a consumer, we live in a time when our opinion of products is important information for companies. This also applies to the way consumers rate a company and its services (product). The problem is that with so many ways that consumers can share their thoughts on a business, it’s hard to know how to look at a business’s ratings and know what the numbers, letter grades, star rating, or thumbs down mean. above. At some point, it’s easy to wonder if any of those contributions are important.

However, recent research shows that while it can be difficult to get a 100% accurate assessment of a company’s value, a company’s rating is important. The onus is on the consumer to be willing to go the extra mile trying to figure out how these ratings enable them to make the best possible decision.

As a consumer, it is important to look for basic ways to break down information, such as company ratings, regardless of the rating system employed. If a rating shows 5 out of 5 stars, for example, but only three reviews have been submitted, that rating may not be the most reliable. Perhaps a rating system allows reviewers to give a “thumbs up” if they are fans. This sounds like fun and easy to use, but is there an easy way to give a “thumbs down”? Without being able to appeal to all kinds of reviews, the result of the ratings is now not so clear.

Ratings are highly subjective, and as a responsible consumer, it’s important to keep this in mind when reviewing a company’s ratings. Sometimes humans may not use the best reasoning in their evaluation of a company. For example, when reading ratings and reviews online, a product / service receives a 1 out of 5 stars, but when reading the actual review, the reviewer may not be satisfied with products / services like the one being reviewed, but not necessarily that specific product / service. Not only does that provide an inaccurate view of this company’s product / service, but the company is now seeing its overall ratings drop.

Consumers react quickly when they are not interested in something and let their opinion be known. However, take the time to look at the review. If someone decides that a restaurant cooked a steak incorrectly and gives it a negative rating and review, does the review indicate whether the reviewer ordered a new steak? If someone wants to return items to a department store without a receipt, but feels they should get a full refund, does the review describe the company’s return policy and other options in the event that there is no receipt? In other words, are companies allowed to remedy a less than ideal situation before it becomes a brand on their overall track record?

In short, yes, a company’s ratings do matter. While there are times when you, as a consumer, have to sift through reviews to get to the bottom of things, ratings for a business generally provide a fairly reliable view of how well the business is performing. These numbers create a sense of trust and confidence in a business, and with so many review platforms available, the consumer has the advantage of being able to find the products and services they need.