The Best Data Science Software Development Companies in 2023

How To Choose the Best Data Science Vendor in 5 Steps

Outsourcing a data science project is no small task and it shouldn’t be taken lightly. Here, we will discuss the steps you can take to find the best data science company that can help you complete your project and provide the services you need.  

Preliminary Step – Understand Your Needs

Data science is a very expansive field with a lot of subfields. Many companies that work with big data often believe that outsourcing data science projects is the solution to all of their problems. However, while data science often is the solution, you don’t necessarily require more complex services. Here are some common services provided by data science companies:

• Data extraction/retrieval
• Data annotation
• Data analysis

To exemplify, let’s say you run a large e-Commerce shop for tech. You want to position yourself as an authority in the field and decide to write a report that will delve into the behaviors of customers in 2023. You want to know which types of products are popular in 2023 compared to 2022.

While this might seem like you need advanced data analysis services, you likely only need data extraction. Now, if you wish to find out why customers are buying certain products, potentially to predict which products will sell in the future, you would likely need statistical analysis services, which is a subset of data analysis.

Now let’s talk about data annotation and machine learning. It’s good practice (in truth, almost obligatory at this point) to categorize and classify products on your website so that customers can easily browse it. This is done through data annotation.

If you want to go a step further and have your website recommend products to your customers that they might be interested in based on their previous searches, you would need data annotation, extraction, and to train a machine learning algorithm.

All of this is a long-winded way of saying that you should understand your needs in depth before you start searching for a data science vendor. With that out of the way, let’s talk about how you can find the best data science companies for your project.

1. Reputation and References

The first step is to create a longlist of data science companies you may hire. There are many independent review platforms that can help you with this. So browse data science companies, and look at their ratings, reviews, and customer comments.

As a side note, most companies will have positive customer feedback on their website or social media. It’s normal to want to present yourself in the best light possible, is it not? But that doesn’t give you the full picture, which is why we recommend you utilize independent review platforms.

Similarly, if a person or business partner you trust refers you to a company, they are probably worth including on your longlist. Now, filtering companies in this manner is necessary, but it’s also tedious. Which is why we did it for you. All companies on our list of the top data science companies are worth going on your longlist.

2. Specific Expertise and Demonstrable Experience

Once you have your longlist ready, it’s time to start narrowing it down. In the world of data science, nothing beats demonstrable experience. So try to find out which projects a company has successfully completed. Search for their portfolios or case studies to see what they can accomplish and how it compares to the needs of your projects.

Additionally, look at what certificates the company has or what training their staff is provided. Again, data science is a very expansive field and you want specialists that are a good fit for your project, which typically means very specific training.

3. Evaluation of Individual Companies

By now, you should have:

1. clearly defined your problem
2. selected companies by reputation
3. found data science companies that have the necessary expertise

So it’s time to evaluate each potential vendor. The first step is problem exploration. Approach companies with your problem and provide them with operational data. It is up to them to examine whether your problem can truly be solved with data science.

The best data science companies will first verify your data and your needs before proposing a scope of work. If you need more advanced services, like business analytics or the development of machine learning algorithms, the company should first crate models and provide you with preliminary results.

And this process can take several months. Only once both you and your vendor are satisfied with the accuracy of the solution should the real work begin.  

4. Return on Investment

Just because a solution to your problem exists doesn’t mean it’s worth implementing. Your investment needs to pay off, potentially within a set time frame. So the company you wish to hire should calculate the costs of the projects and then you can jointly calculate the return on investment.

5. The Location of Your Vendor

Data science is in high demand and it may be difficult to find local vendors that can do the job you need. This is why it is worth looking into outsourcing your project to nearshore or offshore companies.

Data science companies from outsourcing destinations can have the same level of expertise as local companies, but outsourcing to other countries comes with its own set of challenges. It is a viable option, and often the only option, but you should weigh the pros and cons before committing to outsourcing data science projects to offshore companies.

Don’t Rush It

Quality data science services take time. Outsourcing a data science project is much like partnering with any other company. And when you are looking for a partner, you do due your due diligence and vet them appropriately. The same applies here. Contact different companies, see what solutions they offer, and how their goals align with yours. 

We hope this list of the 16 best data science companies has helped you in your search. If you also need other services, like AI, custom software development, or product design, we have similar lists that can help you along. So take your time and find a company to partner with.