5 Data Mining Consulting Business Success Stories [2024]
Data mining consultants extract information to uncover hidden patterns, market trends, customer preferences, and other critical business information. Data mining applications include:
- Financial data analysis
- Retail industry
- Telecommunication industry
- Biological data analysis
- Intrusion detection
Are you looking for a well-paying business opportunity in the data science field? Consider becoming a data mining consultant.
Here are some real life success stories of starting a data mining consulting business:
1. Addepto ($1.26M/year)
Addepto, a leading AI consulting firm, was founded by Edwin Lisowski and Artur Haponik. With their shared passion for new technologies, they recognized the potential of AI-driven solutions for businesses and decided to start a company that offers customized data-driven solutions. Over the years, their focus on providing high-quality services and building a strong brand image has helped them attract and retain customers, leading to their remarkable success in the industry.
How much they make: $1.26M/year
How much did it cost to start: $30K
Current team size: 25
Addepto is an AI consulting business that has grown to over 30 employees and generated $1.26 million per year by offering customized solutions to clients, minimizing business risks with AI, integrating data from multiple sources, and optimizing logistic processes.
2. Trust Insights ($480K/year)
Katie, the CEO of Trust Insights, co-founded the company in 2017 after noticing a lack of transparency and understanding in the marketing industry when it came to data analysis. She wanted to change the culture and be a voice for those intimidated by advanced technology, focusing on marrying data analysis with change management. Through their services and customer relationships, Trust Insights has been successful in retaining long-term clients and building a community through their Free Slack Community, Analytics for Marketers.
How much they make: $480K/year
How much did it cost to start: $2K
Current team size: 0
Trust Insights is a digital marketing consultancy that focuses on data analysis, utilizing Artificial Intelligence to solve problems and help businesses understand how to use their data to their advantage, with a free Slack community that boasts over 2,500 members and a weekly email with over 20,000 subscribers.
So... can you actually make money with a data mining consulting business?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. Data Excavator ($48K/year)
Vitaly, a programmer and entrepreneur, came up with the idea for Data Excavator while working on a project to create a catalog of automobile oils. Frustrated with the difficulty of obtaining data from manufacturers, he developed a prototype that could scrape information from websites using CSS selectors. The prototype proved successful, allowing him to collect the desired database in just a few hours.
How much they make: $48K/year
How much did it cost to start: $30K
Current team size: 2
Vitaly, a programmer and entrepreneur, accidentally created a data scraping app while working on a different startup that has since compiled energy-efficient databases of about 500,000 goods used by five large companies and many small ones, with monthly sales of over $100 million.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
