Data as a service (DaaS) developed during the last year with the onslaught of the “As a Service” movement. Put simply, DaaS removes the silos around traditional data stores and allows companies to access real-time data streams from anywhere in the world. It removes the constraints of internal data sources. Enterprises – including SAP and Amazon – are already tapping into this developing area, which is showing real promise.
Use DaaS to Change Decision-Making
DaaS is a revolutionary idea that is changing the way companies manage and handle their data. In addition to providing new ways to control the overwhelming flow of new streams of information, DaaS offers several other tangible benefits to modern businesses. First and foremost, DaaS eliminates much of the administrative work surrounding data. Business leaders can still get the same insights and details from their data streams—but without having to parse them to make data-driven decisions.
Additionally, companies that subscribe to DaaS platforms will have access to more data stores than ever. Keeping onsite data collection hardware is costly, and back-end support is needed for onsite data collection. Most businesses that aren’t already in the data industry struggle to maintain a viable internal data source. Simply put, DaaS platforms offer the advantages of access to big data without the typical investments. There is no more need for massive hardware upgrades or creating a dedicated data department.
Find Your Data Faster and With More Accuracy
With DaaS platforms, it’s also easier to find exactly the data you need in real time. Before Daas, organizations would have to determine which data they needed to collect, how and where they would collect it, and then decide whether it was usable. In most cases, companies would need to mine data carefully for the valuable, relevant trends. With DaaS, there are no more silos – no more specialized collection structures.
User data pour into these DaaS platforms and businesses subscribe for access to the data streams that are relevant to their businesses. Big data is undeniably crucial for modern businesses, but to fully capitalize on its potential, companies must invest heavily in the ability to not only collect data, but to store, organize, and interpret it. DaaS platforms provide clients with a way to extract relevant data in real time with less uncertainty.
Use Data to Drive Innovations
Businesses use data to determine target customers’ habits, trends, needs, and desires. Due to the speed at which modern business and marketing happen, having the edge on the competition is critical to survival. Companies that want to stay in business have embraced big data and invested heavily in data-driven innovation. DaaS is the next step. Data one are largely one-dimensional. Organizations need to collect vast amounts of data and extrapolate the valuable bits, then apply those pieces of data to their business plans. Since the advent of big data, this process has been a massive and expensive undertaking for most companies. DaaS platforms aim to provide relevant data whenever an organization needs it.
DaaS Breaks Down Silos
Companies can use data to drive projects in every department. Big data not only provide actionable insights for new product and service development; companies can use this information to alter internal processes for leaner operations. This can increase efficiency and employee satisfaction while lowering administrative costs.
Experts expect data as a service to pick up steam in the coming years, and companies are using this new concept simultaneously to reduce costs and improve data-driven processes. DaaS providers are going to grow more competitive as the industry takes off, and clients have a great deal to gain by investigating DaaS solutions.
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