Data Mining Outsourcing to Cost-Effectively Build Reliable Databases

Although the process of data mining outsourcing has been simplified today using various automated tools, there are numerous challenges associated with it. The main problems are operational inefficiencies and high cost, which either lead to inaccurate data or problems with timely data delivery.

This article helps you understand the various approaches that data mining companies use. Knowing the approaches to data mining services will help you choose which is best suited to accurate and timely data delivery at scale.

Data mining services can be automated, with processes like extraction and cleaning done by the software and then integrated into the client’s CRM. This complete reliance on software automation prevents the possibility of customisation based on clients’ unique needs. It also leads to data getting stale in the client’s database. But there is a noteworthy workaround that eliminates both these issues.

Data Mining Services Backed by Research Expertise

Ascentrik Research has started as a research oriented company, sourcing data for marketing and sales campaigns, like email marketing and cold calling. Because of our strong research skills used in sourcing as well as verification of data, and a robust team that is designed to work as the client’s own extended team, we were able to spread our research expertise into various fields of application. We developed strong processes for software automation to scale up data extraction processes, while our in-house team of research experts conducted data verification through live phone calling.

Partnerships result in healthier data

Most data mining companies do not function as partners. They provide clients’ with databases that are often used by multiple users. Such data does not have a uniqueness from the competitors’ data. There is a risk of inaccurate and stale data. But data mining outsourcing with a company like Ascentrik Research gives you accuracy and reliability, while making the data your own intellectual property.

Therefore data partners like Ascentrik Research are the most preferred and trustworthy vendors to outsource data mining services.

Extract useful information from raw data with data mining outsourcing:

Data mining services are processes that analyse a large batch of information to discern trends and patterns, and suggest unique strategies. The end goal is extracting or mining useful intelligence to help organisations solve problems, predict trends, mitigate risks, and find new opportunities.

Following are some commonly outsourced data mining services:

1. Web Data Extraction

This process involves automated gathering of data from sources such as web pages, emails, and online databases, using software or scripts. It is stored in a more usable format for further processing or analysis. It typically involves accessing the HTML structure of web pages and extracting relevant data points based on specific criteria.

2. Contact Data Mining

Various contact and company details like phone numbers, email addresses, revenue, employee count etc can be mined from sources across the web. These details then need to be verified through automated and human processes, for use in marketing and sales campaigns.

3. Mining Data From Competition

It provides insights into competitor strategies, pricing models, product offerings, and customer engagement tactics. This helps businesses understand market trends better. Data mining outsourcing can also identify gaps and opportunities in the market, and potential areas for improvement in a company’s products or services, and gain an advantage over the competition.

Know More about Outsourcing Data Mining Services

Data mining services are processes that analyse a large batch of information to discern trends and patterns, and suggest unique strategies. The end goal is extracting or mining useful intelligence to help organisations solve problems, predict trends, mitigate risks, and find new opportunities.

Steps involved when you Outsource Data Mining Services to Ascentrik:

Step 1: Understand the Business

Before any data is extracted, cleaned, or analysed, it is important to understand the company and the project at hand. Data audits and SWOT analysis can be used for this purpose.

Step 2: Understand the Data

Once the business problem has been clearly defined, we think about data. This includes what sources are available, how the information will be gathered, how it will be secured and stored, and what the final outcome or analysis may look like. This step also includes determining the limits of the data, collection, storage, security, and assesses how these constraints will affect the data mining services to be conducted.

Step 3: Prepare the Data

Data is gathered, uploaded, extracted, or calculated. It is then cleaned, standardised, scrubbed for outliers, and assessed for mistakes. During this stage of data mining, the data may also be checked for size as an oversized collection of information may unnecessarily slow computations and analysis.

Step 4: Build the Model

Data mining companies use various processes to search for relationships, trends, associations, or sequential patterns. The data may also be fed into predictive models to assess how previous bits of information may translate into future outcomes.

Step 5: Evaluate the Results

The data-centred aspect of data mining outsourcing concludes by assessing the findings of the data model or models. The outcomes from the analysis may be aggregated, interpreted, and presented to decision-makers. In this step, organisations can choose to make decisions based on the findings.

Data Mining Services

Our team of full-time research experts can provide multi-lingual data collection services for various information products, as well as marketing and business development processes.

Data Mining Services in the field of Marketing and Sales

Does your sales team find potential customers and leads using Linkedin and other online databases? Conversely, data mining companies can take all of this manual work out of the equation by providing an easy and intelligent way for sales representatives to find this information without wading through online sources.

Another facet where data mining outsourcing plays a pivotal role in streamlining sales efforts is by extracting actionable insights from extensive datasets. Through customer behaviour analysis, it identifies patterns, enabling targeted marketing strategies and personalised sales approaches. Sales teams benefit from data-driven lead prioritisation, reducing time spent on less promising prospects. In a nutshell, data mining empowers sales teams to work smarter, focus on high-value activities, and significantly enhance overall productivity.

Ascentrik also specialises in building custom lists based on your target criteria. No matter how niche the target is, we can build custom lists within a very short time. Our strength is our ability to match your desired market specifications.

Data Mining Services for Decision Making in any Industry

Rather than manually reviewing everything and deciding upon the right course of action, stakeholders can automate certain processes and tasks. For instance, banks and other financial institutions can use advanced algorithms for mining data and detecting anomalies. An experienced data mining company can easily detect data trends that look like fraudulent behaviour, automatically block such accounts quickly, request additional verification from users, and notify the responsible individuals.

Using tailored data mining solutions, companies can segregate the valuable information and construe it into actionable reports. This implies that you won’t have to create reports from scratch each time or look at the raw numbers at all.

Data mining becomes an indispensable tool to forecast trends, discover patterns, find correlations, and detect anomalies within the given datasets.

Benefits of Hiring a Data Mining Company

Running a business successfully is all about making the right moves at the right time. Data mining outsourcing is a process that can have a lot of frustrations attached to it, which could strain valuable time and resources out of your hands. It requires certain expertise, and errors in the process can result in undesirable losses.

Outsourcing to a reputed data mining company can be highly advantageous and will help avoid these possible losses if your organisation lacks this expertise. Let us look at the range of advantages that data mining outsourcing offers:

• Having skilled experts working for you at reasonable costs will lead to higher efficiency, giving you a reliable and accurate output, especially if in-house employees are inexperienced or not skilled enough.
• Your organisation can focus its resource and time investment to core business aspects.
• You won’t need to invest in getting the latest data mining software and infrastructure because the data mining company already has its own. Quick turnaround times and high efficiency lead to more output. This means your managers can access analysed data promptly, empowering them to make well-informed business decisions. You can expect higher profits thanks to increased productivity and the cost-efficiency of outsourcing data mining.

Benefits of Hiring Ascentrik Research to Outsource Data Mining

Global Coverage

At the current time, Ascentrik owns its locations (at Mumbai & Pune) where it runs its operations. This enables our in-house technology and operations teams to make necessary changes to infrastructure and operational delivery models in order to suit the operational, security and technology requirements of client programs. Research across these countries has been in several international languages – English, French, German, Spanish, Portuguese.

Quality Control in Ascentrik’s Data Mining Services

At Ascentrik, the team leader is responsible for the design, implementation and monitoring of the Quality Control Program and making a commitment to our clients of receiving the best output that is uniform and constant in composition.

The work produced by researchers is reviewed by the QA team and Team Leaders to ensure that it meets the quality service levels we commit to our customers.

Ensuring Data Privacy and Protection

Like every other process that deals with sensitive data, including personally identifiable information, a data mining company’s prime concern should be to make sure that the data gathered and being used for mining is provided with explicit consent; that too, in full compliance with all the applicable privacy laws.

Businesses also need to ensure that the gathered data is secure at all stages of data mining services, including collection, storage, and analysis, all the way to deletion.

Conclusion

Many business experts agree that data mining outsourcing is a smart move. The aforementioned approaches and advantages of data mining services should have helped you become more informed about which provider to choose. Data mining is one of the leading global business trends, with 90% of Fortune 500 companies investing heavily in it. It is a very powerful tool that helps shape businesses desirably. Outsourcing to a data mining company will allow you to reap the benefits and assist in taking your business to the next level.