The Cost of Bad DataBad data can cost your company team morale, your competitive edge, and other tangible consequences that go unnoticed. We define bad data as any dataset that is unclean, raw, irrelevant, outdated, inaccurate, or full of spelling errors. Bad data can spoil your AI model by introducing bias and corrupting your algorithms with skewed results. Inadequate data can result in extending your time to market by 2X as you have to restart collecting and annotating relevant data for your AI training phase.Additionally, you are likely to bring down the confidence and morale of your AI development team as they are consistently being exposed to poor and inaccurate results. Technically, you will encounter multiple feedback loops, forcing you to revisit your model for optimization and corrective measures.Management ExpensesThe costliest expense when training your AI is management-related. All costs involving the administration of your organization or enterprise, tangibles, and intangibles constitute management expenses. When all administration expenses are tabulated, you realize there are other more straightforward ways to get your AI training data sourced with minimal effort and costs.The SolutionThe expenses we’ve outlined above can easily be eliminated through what we call ‘paid data collection and annotation services.’Or simply, outsourcing.
When you outsource, you employ a specialized team to work on data sourcing, compilation, and annotation, ensuring you receive AI-ready data. You will be in the best position possible, ready to feed impeccable data into your AI system.Hire AI data vendor only requires you to pay for the service that is provided. There’s no need to spend time hiring a team, overworking to meet deadlines, experiencing the consequences of bad data, or dealing with low team esteem and morale-driven conflicts. Outsourcing makes space for the time you need to focus on optimizing your product, working on promotional strategies, pitching to investors, and other crucial tasks.Why Shaip?At Shaip, we have expert data scientists and annotators who have access to diverse resources. Regardless of your market segment, niche, or requirements, you will find the quality data you need to train your AI model. Working with us is a rewarding experience because of our transparent modus operandi; we also adhere to stringent deadlines and focus on healthy collaboration practices.If you are looking to reduce unnecessary expenses and get your AI system operating at cost, reach out to us today.