For the last 10 years was happened a number of technology advances that have changed the way of companies’ relation both between themselves and with their customers. We were overseeing keynote jump to the modern smartphone, «power shift» in the social media world where Instagram overtopped Facebook, appeared new generate technologies that have fixed firmly in the business. And finally, cloud was appeared. Big Data, AI, ML and cloud gave an impulse to develop a new product – «analytics as a service» (AaaS).
Business is increasing in a rapid rate and together with it data is growing too. For processing of such data volume companies need to make essential investments in different resources (human resources, software and hardware). But AaaS can solve this problem.
Analytics as a service is rated as an analytic software service via Internet. By using this technology solution organizations receive an access to data analysis without development in-house technologies that allows to cut expenses.
The demand for analytics is not limited by one business area but outspreads for all: manufacturing, retail, healthcare etc. Considering individual requirements of each company AaaS-providers and their customers have endless possibilities. This solution could be easily included into resources planning, manufacturing execution system, cloud services and security police.
AaaS benefits for business:
- Business insights
The market changes rapidly, consumers’ expectation grows constantly, macroeconomic conditions change dynamically. Considering such terms, it’s not enough for business to go with the times but it has to be one step ahead. And it’s not possible to make without analytics. Independently of scope each company is in need of in analytics. «Analytics as a service» can help here paving the way from data to ideas and solutions. With the help of AaaS company’s management easily get predictive data on the bases of which develops more effective business strategy.
- Improved customer experience
Satisfied customer is a formula for business success. That’s why one of the main tasks for each company is to increase customer loyalty by improving customer experience. With the advent of online channels data collecting has increased that stimulated companies to provide multichannel service. AaaS helps to unify data from different sources and create the single source of the right data.
- Predictive statistic for everyone
AI analytics is an indispensable business tool. With AaaS organizations get access to it and arrange data-driven decisional process across all hierarchy. It helps to save some time and resources.
- Competitive analysis
Companies have an opportunity to collect data from several sources, track field trends and seasonal changes and use this information in business processes. Deep analysis allows to compare company’s rates with business rivals’ rates and develop a targeted strategy for better results achievement. With self-service function AaaS users can rapidly and easily analyze data and create necessary reports.
Market is growing invincible, many new companies are appearing there and a business struggle is also growing accordingly. For flying level companies need to use advanced technologies and run analytics in daily routine.