5 Business Ideas Based On Data Aggregation
Data aggregation is a process with unending possibilities for businesses across different industry verticals. It helps companies assess their competition, understand their target market and improve customer satisfaction. Today, there are companies focused on data aggregation as a speciality, which means ready to use data is accessible to everyone who wants to use it for a multitude of use cases. What you can do with the data is only limited by your imagination. Here are some great business ideas based on data aggregation that you can consider if you are looking for some inspiration.
1. Fashion trends analysis and forecasting
The fashion industry is extremely dynamic in nature. Retailers often find it intimidating to predict the frequent changes in trends and demands. This creates a huge opportunity for a new business – Fashion trend analysis and forecasting. A robust solution that can accurately predict the upcoming trends and changes can help the fashion retailers optimise their production, stock volumes and get ready to utilise the changes. This will also give them an upper hand compared to their competition that isn’t using a data backed forecasting technique. The idea can be executed by getting a steady flow of web data aggregated from fashion blogs and other related sources where new trends are being discussed and running it through a predictive analytics system that can make sense of it.
2. Global search engine for discount sites
Finding great deals around a place you recently visited can be difficult. Sites similar to Groupon could be available in different geographies and they could be offering great discounts and deals too. Creating a search engine for such sites could solve this problem once and forever. The site details and deals can be aggregated and displayed on your search engine using web crawling and other scraping techniques. This makes it easy for users to find deals and discounts no matter where they are in the world by hitting this website. The only challenge here would be site data aggregation which can be solved by relying on a web scraping service.
3. Educational video aggregator
Today, it’s possible to find online courses on anything you want to learn in the form of videos, eBooks or blog posts. It is easy to get overwhelmed by all this content on the web which varies in quality and difficulty level when it comes to learning something new. Although there are a lot of resources available on the web, it is quite difficult to find high quality videos with clear audio and a good tutor, which is the most important aspect of all. This is where an aggregator website that can collect courses from all over the web and categorise them becomes relevant. This categorization will help the users by giving them ideas and pointers on where and how to start their online course.
The idea is to create a website which contains all the videos and textbooks associated with them, so that the users don’t have to do the challenging task of browsing multiple sites to find relevant course material on the web. These resources can be arranged on the basis of their difficulty level, quality, type, length and many other similar aspects.
4. Predictive analytics solution for hiring
Hiring is a huge challenge for big and small companies alike. Hiring the right candidate is a tricky task and can go wrong many a times. The blame for a bad recruit usually goes to the HR. Creating a HR solution that works on big data and predictive analytics can solve this problem to a great extent and help companies save costs associated with bad hiring. The portal should extract all the available data about the candidate from the web and the predictive analytics system can assess candidate’s skill set against a given organization/job profile and provide the organization with valuable inputs on how good the hire would be. This can help companies improve the quality of their hires and thus move towards higher efficiency.
5. Media aggregator platform
Finding relevant news is only a few clicks away, thanks to the search engines like Google. With the powerful algorithm that works behind google, you can hit the search with your desired keyword to find the latest news on that subject. While this will suffice the needs of a common user, it’s is not very convenient when you take productivity into account. Academic researchers and journalists or anyone who wants to keep up with the industry news in real time could use the help of a platform that can aggregate the news data in a predefined format to improve the ease of consumption. Monitoring the media for critical keywords can be made possible with this solution. Such a solution will also help the users save data historically and build their reports within a short period of time.
As the amount of data available on the web keeps increasing by several folds each day, new use cases and business ideas based on data aggregation will also come into picture. These are some of the practical and in-demand use cases with which you could start a business. Since aggregating data from the web has been made easier by the web crawling companies, you wouldn’t run out of data for your business, ever.