Data mining analyzes raw data to be used as a powerful tool for making predictive and informed strategies. While this data is the key to success having to collect, sift through, analyze, and centralize it all is a large task to handle.
Creating an in-house team to collect and analyze large sets of data wastes your company resources because data mining is not done on a daily basis. This gives you three options: pull current employees, hire new employees, or partner with an outsourcing team that works based on your needs. Businesses often choose to outsource this task.
Issues such as duplicate entries, possible fraud, or even data entry errors can significantly impede company productivity and growth making accuracy a top priority. Additionally, some of the common issues in data mining such as data quality, efficiency, and dealing with non-static data is solved through outsourcing.
Benefits of Outsourcing Your Data Mining
A study from “What’s The Big Data?” shows that data scientists spend 60% of their time cleaning and organizing data, and 19% of their time collecting data sets. So with nearly 80% solely being data preparation why outsource when you can have an internal team doing this prep work? Outsourcing has two major benefits that help save costs and increase return of investment: expertise and flexibility.
Outsourcing brings in a team of experts to assist and find the best possible solution. In addition to grouping data sets such as clustering or classification, algorithms for statistics and probability is effectively utilized with an outsourcing team to ensure you get the most with your data.
Data isn’t always static or in the same format, and values or fields are in different units that require conversion. Integration and the up-keep of a large and complex set of data is quicker by outsourcing, being able to utilize information while it is relevant.
How ARDEM Provides Flexibility with Data
In a previous blog post we talk about how outsourcing compares to temporary employment. Without a good grasp on the task at hand, the cost of having a temporary in-house team can easily cost more than an outsourcing solution.
Perhaps you have a seasonal data mining project or want data mining done once a year; outsourcing provides the service when you need it saving more than just costs. Rather than hiring and firing a temporary team for data mining, partnering with ARDEM allows you create a schedule that works for you.
With an ISO27001 Data Security foundation, HIPAA compliant, and PHI/PII policies in place we ensure your data is secure. ARDEM works a three shift schedule allowing real-time data and a quick turnaround.