Outsourcing Data Mining is a Wise Business Decision

Outsourcing Data Mining is a Wise Business Decision

Posted on December 21, 2012

Most businesses nowadays have a large volume of raw data that is never processed, because of the lack of time or resources. If your business is facing a similar situation, then you are missing out on valuable information. Without the right information, your company will be unable to make accurate business decisions.

The right information can play a key role in promoting the growth of your business. When unprocessed data is entered, filtered, classified and converted into a workable format, it can be used to maximize your profits, ameliorate your risks and run a seamless workflow.

Over the years, data mining has proved to be extremely useful in various industries, be it, healthcare, direct marketing, e-commerce, finance, customer relationship management or telecommunications. With the right information, companies have been able to make fast and effective business decisions.

Why outsource data mining?

Data mining requires the expertise of professional business and financial analysts who understand how to acquire important information from vast amounts of data. If data mining is done in-house, it can become expensive and time consuming. It can also shift your focus away from core business activities. Outsourcing data mining on the other hand is more fast, cost-effective and can give you access to professional services.

4 commonly outsourced data mining functions

Most companies outsource one or more of the following data mining functions to India:

1. Data congregation: Data is extracted from various web pages and websites, by using methods like web and screen scraping. The collected data is then entered into a database.

2. Contact data collection: Different websites are searched and information concerning contacts is collected.

3. E-commerce data: Data about varied online stores are collected, taking into account information about prices, discounts and products.

4. Data about competitors: Data about business competitors are collected to help a company gauge itself against its competition. With such valuable data, you can effectively re-design your marketing strategy and pricing matrix.

8 advantages of outsourcing data mining to India

With data mining out of your hands, your business can make huge savings in terms of time, money and infrastructure. The following are some of the benefits that you can leverage by outsourcing data mining to India:

  1. Get qualified and highly skilled data mining experts to work for you at an extremely affordable cost
  2. Be assured of the quality of information, as Indian data entry companies only extract information from reliable websites and databases
  3. Save on the cost of investing on the latest data mining software and technology, as your Indian service provider will be making these investments
  4. Get your data processed within a short turnaround time of 3,6 or 12 hours as Indian data mining companies can provide efficient data mining within a few hours
  5. When compared to in-house data mining, outsourcing data mining can be a lot cheaper and also bring you better results
  6. Stay assured about the complete privacy, security and confidentiality of your valuable data as Indian data mining companies use the latest technology to ensure 100% safety
  7. Get access to data with a wide market coverage as your Indian data mining provider will be serving many business with varied data mining needs
  8. Improve your overall productivity and generate more profits by making informed decisions about your business
Have you outsourced data mining before? If yes, which data mining service did you outsource? Did you find outsourcing more advantageous that in-house data mining. Let us know. 

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