Learn about actual and potential costs
How much should I pay for Data Mining Consulting Services?
What is the average price of Data Mining Consulting Services?
This procurement report includes pricing information to help you purchase Data Mining Consulting Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Data Mining Consulting Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Data Mining Consulting Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Data Mining Consulting Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Data Mining Consulting Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
There is a low level of market share concentration in the data mining consulting service market, with the top four suppliers representing less than 30.0% of total market revenue. Low market concentration indicates that the market is highly fragmented. In 2021, there are an estimated 980 suppliers of data mining... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
What is your client renewal or repeat business rate? Why do companies renew their contracts with your business?
How do you evaluate customer satisfaction and how frequently? Is this information made available to clients?
What customer complaints and suggestions have you encountered and how have you changed your service in response to them?
If you encounter issues or your client is not satisfied, what steps do you take to address the issue?
Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Why did the last two clients you lost cancel their contracts with you?
What is your renewal/repeat business rate for businesses in my industry? How does that compare to your overall rates?
How long have you provided your services to your longest-tenured client?
Who are your five largest clients?
Do you have case studies or client testimonials detailing the services performed? Can we speak to or visit a current client about their experiences?
What are your primary metrics for internal quality measurement regarding timeliness? Is this information available to clients?
How often do you experience problems with the timeliness of transactions? What is your on-time delivery rate?
How accurate are your time estimates for projects? On average, how many projects is a staff member typically working on concurrently?
How long does it normally take to correct errors or process account maintenance requests?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?
How do you ensure the accuracy and quality of your service? What systems, tools or software do you have in place to minimize the number of errors? How often are these systems checked and updated?
What checks and balances are in place to be sure that my project has received a thorough evaluation? Who completes these checks and identifies errors?
Who normally identifies errors when they occur?
How do you balance quick turnaround times while maintaining the maximum possible accuracy?
What value-added services do you provide? How will including value-added services impact pricing?
Do you offer a free trial period or demo to test out your services?
Do you offer discounts for bundled services? If so, what are the terms?
What partnerships do you have? How do your clients benefit from these relationships?
How often is our data and content backed up on your servers? What are your continuity processes for business interruption?
What encryption standards do you use for data storage and transmission? Has your clients' private data ever been compromised?
What is your data protection strategy?
Where are your data centers located, and what security (fire, theft, flood) and contingency plans (dual processors, uninterruptable generator supplied power) do you have in place to ensure service continuity?
Who has access to my information, and how are changes to my solution securely managed and audited?
How have your suppliers reacted to the COVID-19 outbreak? Has their response impacted your services and clients in any way?
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Key elements for every RFP
What should my RFP include?
Buyers should state the type of pricing model they prefer to use, whether fixed, monthly, weekly or hourly.
Buyers should inquire about other possible fees or expenses such as travel, lodging and materials.
Buyers should heavily consider the relevant experience of a supplier.
Buyers should weigh the proposed strategy of a supplier and ensure it fits best with their company goals.
Buyers should evaluate the level of customer service of a supplier, which can be assessed through past client references.
Buyers should consider what other related services a supplier can offer because this varies widely across the industry.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date when proposals are due, dates for interviews and when the bid will be awarded.
Buyers should include the date of the beginning of services, and any options for the renewal of services.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk for data mining consulting services is low. Because the majority of the operating costs for suppliers are attributed to wages, suppliers face little risk from upstream suppliers. There is some risk that individual upstream domestic computer manufacturers will go out of business due to high competition from... Subscribe to learn more.