Business Data Analysis

The business data and the analysis of the business data are quite important for any Company. The company has to collect business data and analyze it in order to get benefit from the business. With the development of internet there is a rise in the data collection of the companies as companies started to offer their business online.

Various companies collect different data according to their type. For example, Banking companies and banks collect the personal information of clients and employees, transaction data, etc. The analysis of the business data has a great value for any company. The data analysis is important to understand the behavior of the customers. The patterns found in the customer behavior can be used for planning. Big companies will have a large amount of data and the analysis of this much data takes a lot of time. The importance of data analytics outsourcing for the outsourcing companies has been increased due to the rise in Knowledge Process Outsourcing. Following are some of the vertical businesses where data analytics outsourcing have been extensively used.

The Credit Risk Analysis is outsourced by Banks and other financial institutions on their customer data. Based on their client requirements, financial and statistical professional creates mathematical models to identify potential risk factors in sanctioning loans or credit cards to customers. Using the mathematical models, equations can be formulated to identify high risk and low risk customers in risk analysis.

Logistics and manufacturing companies use supply chain analysis in optimizing Supply Chain Management (SCM). In SCM, various processes of moving goods starting from customer order through the raw materials stage, supply, production, and finally distribution the products to the customer. With the advance of global sourcing companies started extending the supply chain to include global suppliers, partners and other interested parties around the world.

Data analytics outsourcing in Parma industry has been growing for several years. Companies like Icon clinical research, Quintiles Transnational, Acunova, etc, have created clinical data management infrastructure in India to provide various data analytics solutions to drug companies in US to reduce drug discovery and approval time. There are also niche players started emerging in pharmacy data analytics market, Marketrx(acquired by cognizant) specializes in marketing and sales analysis in pharmaceutical industry, their custom build data analysis solutions helps drug companies in enhancing sales and marketing processes.
Data analysis outsourcing Trends

Online Telemarketing tends to be most strongly connected with thick skinned individuals struggle their way through a list in search of sales leads, it is actually a very general term that applies to a multiplicity of both inbound and outbound telephone marketing. The oftentimes quoted growth in telemarketing is due to the huge increase in the number of call centres handling high volume inbound and outbound business/consumer calls. This effect includes for example, handling responses to an advertising campaign, or calling existing customers to offer additional services. Generally a different set of skills are necessary for inbound and outbound telemarketing.

Improved market data: At a basic level this may include collection of the contact details of decision makers and their usage of products and services relevant to your market, but further probing can deliver more in-depth information - perhaps on distribution channels for example.

Telecleaning your existing data: It's your data, but is it a valuable asset? Only if it's clean and accurate. A professional team of telemarketers can ensure that your data doesn't embarrass you or let you down.

Lead generation: Using a team of dedicated telemarketers to do this tough, up-front work can make more cost-effective use of your often highly paid field sales or telesales executives by allowing them to focus on closing sales rather than chasing prospects.

Event planning: if you're investing money in marketing events - perhaps a seminar to introduce your company to likely sales prospects in your target market, or presenting a new product or service to potential customers - telemarketing is an effective way to ensure the right people turn up in the right numbers. This method is often used as a follow up to a targeted mailing.