Starting a Data Mining Business

If there is a possibility to reach anybody you want, how would you feel? Data mining business have become a biggest trend in the market to provide you direct email ids and mobile numbers of those you have always wanted to connect with. Services from Data Mining are far better than the local directories and yellow pages whose collection is limited to only addresses and phone numbers.

Startup Cost: Rs. 2, 00,000/- ($4000) (PC, Printer, Staff, Marketing, Advertising, etc)

Potential Earning: Rs. 3, 00,000/- ($6000) to Rs. 20, 00,000+ ($40000+)

Equipment Needed: Computer (Full set including computer table and UPS with Antivirus), Speed Internet Access, Landline Connection, Database Software, and Word Processing Software, One Company Website

Scope of Data Mining Service

The scope of data mining business covers very wide fields like Banking Sector, Production House, Marketing Firms, FMGC, Financial Publications, etc. Ultimately, almost all businesses thrive on contacts, so the more the better and what could be easier than getting these precocious data readymade in CDs.

Retail Point

The ready data can be sold online as well as on order, even it can be sold through shops.

Competition Overview

Today there are lots of competitions so one has to be very innovative to stay in business. So, here the question arises that how to get the best deal? One must, before comparing the prices and quality from other data providers should compare the following:

• Quantity of data
• Data Accuracy Level
• Updated year (because with each year the data becomes outdated)
• Discounts offered
• Other Facilities, like COD, Direct Deposit in Bank, Accepts Credit Cards, etc
• Whether provider is offering bulk mailing software for inbox delivery or not.

How to Operate?

The best way of collecting data is from the office or the business/person directly. In some circumstances, you can get data from PR agencies (which may be little difficult, depends on your own skills). In case the data are on net, you should analyze the data by checking its last updated date. You need to thoroughly analyze each and every data to control the accuracy level and bypass the outdated data.

How to Promote?

You can promote your business through sms, websites, online and offline marketing and even words of mouth works very well.

The idea of starting this business is very interesting and innovative, if you are interested to start this business than put everything in the right place as discussed and you will be one of the entrepreneur to get on on a new innovative business.

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