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How to Choose the Right Data Provider for Your Predictive Analytics

May 10, 2021

“Predictive analytics models are only as good as the data that goes into them,” notes Heather Lewis, Solutions Manager for Data as a Service at LexisNexis. In this mini-webinar now available on demand, Heather discusses the critical role data plays in predictive analytics—and reveals the most pressing questions you should ask any potential data vendor to ensure you’re getting the greater context needed to unlock actionable insights.

For example, is the data provider you’re considering an aggregator of data? If so, this means the provider pulls together content from a variety of unique sources. Accessing content from a data aggregator offers you greater breadth and depth of data than you would likely find from a single data provider.

The variety of information you get from an aggregator is a huge plus for your predictive analytics and business research efforts, but it also begs an important follow-up question: Where does the aggregator get its information? To help ensure compliance, you need to know that the data you’re feeding into your tools and platforms is credible

Other considerations to make when deciding which data provider to partner with include:

  • What kinds of archived data or historical coverage does it have?
  • Does the provider offer data in the format you want?
  • Can the data provider offer the data delivery methods you need?

You can watch Heather’s entire 5-minute webinar now to learn more about the kinds of questions you should be asking potential data vendors.

 Click here to play this video

 

Once you finish watching the webinar, take the time to learn more about Nexis Data as a Service (DaaS). Our DaaS platform provides the complimentary third-party data you need to enhance and enrich your big data analytics workloads.

We offer text-based, semi-structured datasets ready for immediate use in a wide variety of use cases—from machine learning (ML) model training and Natural Language Processing (NLP) to academic research and sentiment analyses for more effective marketing. Our data universe goes back more than 45 years and includes:

  • News data
  • Industry, market and company data
  • Legal data
  • Patent, newswires and press releases
  • Magazines and trade journals

Every day, 4.5 million new documents are added to this already unmatched data universe from our 80 million sources of licensed and open content. Additionally, we offer a range of API and on-premises deployment options to give you maximum flexibility in how data is delivered to your applications and platforms.

Watch the webinar to learn more about which questions to ask and the factors to consider before you settle on a data provider. Then, discover the benefits of complementing your internal data with our third-party data with access to our developers portal.