5 Data Mining Consulting Business Success Stories [2024]

Updated: November 19th, 2023
Start A Data Mining Consulting Business

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

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We Built A $1.26M/Year AI Consulting Business [Over 30 Employees]

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.

About
Edwin started Addepto almost 6 years ago
Revenue
Edwin grew the business to $105K/month
Costs
It cost Edwin $30000 to start the business
Read by 3,728 founders

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

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We Created A Data-Focused Agency & Grew It To $40K/Month

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.

About
Katie started Trust Insights about 6 years ago
Revenue
Katie grew the business to $40K/month
Costs
It cost Katie $2000 to start the business
Read by 2,662 founders

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?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

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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

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How Selling Motor Oil Led Me To Create A $48K/Year Web Scraping Tool

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.

About
Vitaly started Data Excavator almost 5 years ago
Revenue
Vitaly grew the business to $4K/month
Costs
It cost Vitaly $30000 to start the business
Read by 2,063 founders