An Insight – NextWealth

Data is the most crucial ingredient for businesses worldwide. ‘Data driven, Analytics driven, Algorithm driven, AI/ML driven’ are the new taglines for all businesses, traditional and next gen. Every day, companies are realizing the potential of data and its consequential competitive edge that companies can utilize in scale and growth. 

We at NextWealth have over a decade of experience in customer centric businesses, and are the leaders in Multi-channel customer support and Data Enrichment services.

With over 2000 associates working in Tier 1 and Tier 2 towns, NextWealth delivers cost effective Data Enrichment services through “human touch to digital processes”. We apply Lean and other quality principles to incorporate the best processes leading to an NPS greater than 60. We also use the latest technology tools to deliver state-of-the-art results, with an accuracy of 99.9+%.

With the advent of automation, while more and more work is going to get handled by systems, human intervention is still necessary, especially in areas such as Data Preparation/Enrichment. E-commerce companies require humongous amounts of data to be prepared such as product descriptions, prices, catalogue details and statutory details. More than text, multimedia data is growing at an exponential rate with consumers using aggregated application services at a large scale. For AI/ML companies, data carefully collected and curated is the key to algorithm training, validation and effectiveness. ML focused companies segregate and process data based on algorithms that learn iteratively and progressively.

This is the reason that in the next half decade, digital data is projected to grow by 61%. Accumulation of data from diverse areas like social media, user activity, engagement, browser activity, stored cookie data, etc., is going to require just as much logical categorization and classification as it needs system processing. 

Data Enrichment is a crucial service for e-commerce, AI/ML & Autonomous Driving companies to validate the images, pricing, real life simulation and facilitate accurate analytics. Critical data points require validation as these are the factors that influence predictive analytics and growth. Algorithms with these data points can better enable product recommendation, supply chain optimization.  Likewise, Autonomous Driving has become a booming industry with the trends suggesting that there will be a 55% increase in AI developer jobs in the next decade. AI and Predictive Analysis fields are an integral part of computing that will reduce decision making time to nanoseconds, thereby addressing growth needs much more rapidly. 

These and many more technology growth areas are a niche market that needs specialized data related services. With our expertise in specific domains like Model Training and Model Validation with a variety of algorithms and metrics, NextWealth helps businesses to leverage technologies like AI/ML.

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