The power of data
Data is essential for business operations and every successful business person knows this. Even a one-person startup can generate valuable data. It helps not only to run various operations but also to understand markets and customers and to make decisions. Therefore, data has to be precise and obtainable. Every business that has been active for more than a year, that has an online presence through a website or social media or has information from its customers can use the data to boost business growth.
Given that it is a process that contains vital documentation for any firm and maintaining them is critical for executing transactions, decision making, and customer support, small and large businesses decide to partner with companies that provide professional data entry services.
What is data entry?
Data entry services are divided into two categories, online and offline.
Offline data entry consists of transferring information from one medium to another. This process is also known as transcription. People working in data entry jobs are responsible for updating and managing data without errors.
This task applied to different industries that require accurate data management such as accounting, legal, e-commerce, etc. Given the importance and tedious nature of data entry, most companies decide to outsource this function. The process requires foreign language proficiency and basic computer needs.
Data processing is the process of converting raw data into meaningful information. Data conversion to reach the final result, obtaining information, goes through different steps. In other words, it can be considered information processing.
Data is manipulated to produce results that lead to a resolution of a problem or improvement of an existing situation. Similar to a production process, it follows a cycle where the input (raw data) is fed to a process (computer systems) to produce output (information).
Generally, organizations employ computer systems to carry out a series of operations on the data to present, interpret, or obtain information. The process includes activities like data entry, summary, calculation, storage, etc. A useful and informative output is presented in various appropriate forms such as diagrams, reports, graphics, etc.
Why Companies Decide to Outsource Data Entry
Giving emphasis to the most important benefits of outsourcing here are some of them. Of course, these are not all of the benefits:
- Access through large labor skilled pool, processes, technology
- Reduces your capital costs of infrastructure
- Leaving time for concentration on your core business activities
- Guaranteeing the highest accuracy and high-quality services
- Fast turnaround time for each data entry
- Lucrative pricing scheme which minimizes your budget costs
- Proceed fast regulations and consumer satisfaction
- Back-up and emergency
- Know-how and support
- Accuracy
- Use of advanced technology and software
- Data security
We do all the stages of the data processing cycle
Collection
Preparation
Input
Processing
Output and interpretation
Storage
Methods of the data processing done electronically
Batch Processing
Batch Processing is a method where the information to be organized is sorted into groups to allow for efficient and sequential processing. Online Processing is a method that utilizes Internet connections and equipment directly attached to a computer. It is used mainly for information recording and research.
Real-Time Processing is a technique that can respond almost immediately to various signals to acquire and process information. Distributed Processing is commonly utilized by remote workstations connected to one big central workstation or server. ATMs are good examples of this data processing method.
Online Processing
This is a method that utilizes Internet connections and equipment directly attached to a computer. This allows for the data stored in one place and being used at an altogether different place. Cloud computing can be considered as an example that uses this type of processing. It is used mainly for information recording and research.
Real-Time Processing
This technique can respond almost immediately to various signals to acquire and process information. These involve high maintenance and upfront cost attributed to very advanced technology and computing power. Time saved is maximum in this case as the output is seen in real-time. For example in banking transactions
Distributed Processing
This method is commonly utilized by remote workstations connected to one big central workstation or server. ATMs are good examples of this data processing method. All the end machines run on a fixed software located at a particular place and make use of exactly the same information and sets of instructions.
For those interested in nearshore or offshore destinations where to outsource data entry functions, Albania is a great option. Besides the advantages related to the ease of doing business and qualified workforce, Albania has a legal framework harmonised with the European Union.