Data mining is hugely important for several businesses. Data mining helps in deriving relevant information from raw data. Since it is not the primary business function for most businesses, it is usually outsourced to a third party company. Those who try to mine data in-house usually end up wasting loads of time and money since the process needs some expertise and experience to get it right.
The Process is the Key
Finding out the right data mining service provider is key to success. One of the best places to search for a data mining partner is through a freelancing site like Upwork. Even LinkedIn can help in this regard. Search for potential candidates and companies that can meet your requirements, in terms of experience, expertise, and budget. Hold an interview of sorts before finalizing a company. Get the job description right that accurately describes the data mining process.
Create a written process right now to convey what you need for your business, correctly to companies who offer these services.
Some factors to consider before hiring a data mining service provider
Over time, you are sure to get some providers who will send in proposals and to assess the right one does take some time. Here are some factors to consider before finalizing and hiring a data mining provider.
• Check out Reviews
Freelancing websites usually have built-in review systems, and one should pay some heed to these reviews. They help you to filter out the lower-tier candidates and then focus on the better ones. Some new ones sometimes are better qualified to take on the job, but one should be careful trusting them.
• Check Provider’s Website
Check out the provider’s website and then make a decision about hiring them if all things fall in place. If they do not have a website, do not trust those candidates. If freelancers are not hosting a website yet, it is better to ignore them.
Look closely at the information presented on the website and whether they come off as experts or amateurs.
• Innovation in Company/Owner Name
Many people overlook the company’s name or the owner’s name. It is not a deal-breaker in any way, but it’s a factor if they are innovative enough in presenting themselves.
• Recorded Work Process
Providers should have a thorough work process for data mining in their records. You can assess whether they are good in their work or a video that describes their entire system succinctly.
• Affordable Costs
While the cost of every data mining provider is a huge factor, the primary concern should be on their efficiency. Providers who are highly qualified are expected to be paid more than others. But one should narrow the list to the best candidates first, before using cost as a deciding factor.
To make the final choice, the first step is to determine the criteria for data mining that is important for your business. Give weight to case studies and user-generated reviews and then do your independent research first on each provider of the narrowed down list.
Like with any outsourcing process, there is always a chance for something to fail. Culture, language, customs, and communication can all lead to disasters. Look out for data scraping service providers who falsely advertise as data mining providers. Data mining is based on algorithms, while scraping is a simple process of deriving data from web pages.
Once you’ve found a provider that can deliver your needs quickly, efficiently, and at affordable costs, get them to offer a trial if possible. Many companies offer discounted services to new clients. Remember, it does take time for results to show. You can’t expect drastic positive changes overnight.
