For growing companies that are on the eedge of fully recognizing their potential the biggest mistake that they can make is to fail to hire a data consultant firm. Once an explosion of growth occurs companies can find themselves intensely overwhelmed with how to properly take advantage of the large quantity of data that has been gathered. The longer it takes for the company to find a firm to work with the more data lies unused and the harder it is to recover and capitalize on it.
Why should a company hire an outside firm for these duties? I have seen it time and time again in the industry. The CEO and related officers put too much faith in their in house team and belief that they can save money. I always say that you can pay money now to have the proper tools in place to foster your companies growth or you can pay double to fix the problem further down the line. It is obvious which is the better choice from a business perspective. I am not saying that all companies have incapable or inept data workers but I am saying relying solely on that small team is leaving the potential of that company in the weeds. Finding a data consultant firm that can formulate a unique analysis and data strategy will save money and take a weight of unreachable goals off of the in house team.
No business partnership should be hastily entered but investing in the data area of your company will pay off in the long run. The most important thing to remember when you are searching for the right consultants is that you want a firm that shares your companies vision. It is also important that they have a clear and concise plan that they can articulate to you clearly and which delivers on all of your expectations.