7 Analytics as a Service Firms To Watch Out For In 2024
Data and analytics as a service play a vital role in today’s world. Businesses require managed analytics services to achieve their goals efficiently. Here, we will discuss the role of data analytics in a business and the top analytics as a service (AaaS) firms to partner with in 2024. Businesses in today’s world need to utilize their data to derive insights and make efficient decisions. Small, medium, and large businesses from different industries can benefit from investing in managed data analytics. However, not all of them want to build the analytical models from scratch or make major changes to the systems on the premises. Analytics as a Service(AaaS) or managed data analytics is the best solution for such organizations. They can quickly access the analytical tools and reports through cloud platforms and derive real-time insights. According to Statista, the analytics as a service (AaaS) market is estimated to be $69 billion by 2028. Another report says that the increasing adoption of AaaS solutions will take the market share to $85.1 billion by 2032 and cross $110 billion by 2034. AaaS is a kind of managed analytics service offered by third-party service providers. In this blog, we’ll read more about data analytics as a service and which firms offer these services to businesses from around the globe. What is Analytics as a Service? Analytics as a Service or managed analytics is a cloud solution where third-party providers offer data analytics services through cloud platforms. For example, suppose you want to analyze your business data. In that case, you can partner with an AaaS provider who will take care of the entire process from end to end and share the final reports (data visualizations) with your employees. This is done by personalizing the dashboards and connecting them to cloud analytics tools. Here, you pay only for the resources you consume for your business. There is no need to make heavy investments to buy the software or develop new processes in your enterprise. Data analytics managed services can be quickly set up by the service providers based on your requirements. What is Analytics in SaaS? Software as a Service (SaaS) has been helping many business enterprises unlock the full potential of their data to derive meaningful insights. Analytics in SaaS refers to analytics as a service. It includes several processes like data collection, data storage, data cleaning, data analytics, and data visualization. You can track various KPIs like inventory, production, customer behavior, sales, accounts, conversion rate, customer LTV (lifetime value), churn rate, etc. Analytics in SaaS can also be termed managed analytics. Simply put, you rely on a third party to provide the necessary insights and pay accordingly. 7 Top Analytics as a Service Firms To Partner In 2024 1. DataToBiz DataToBiz is an end-to-end digital transformation and AI company offering tailored data & analytics managed services to SMBs, MSMEs, and large enterprises from various industries. The company provides analytics as a service through a tried and tested customer-centric approach. It helps businesses understand the gaps in their processes and find robust methods to strengthen the weak areas. Businesses could enhance customer satisfaction by 99% and make 3x timely decisions by partnering with DataToBiz to streamline their data and analytical models. The award-winning company offers a range of solutions like big data, data warehousing, data lake, data architecture, data engineering, data governance, AI and ML adoption, cloud computing, and long-term maintenance. The company is a certified partner of Microsoft Azure, Google Cloud, and AWS. 2. Infosys Infosys is a leading consulting company offering analytics managed services to various clients from around the world. It is a digital transformation service provider that helps businesses accelerate growth, build a connected ecosystem, and become efficient. The company brings flexibility and scalability to the organization by delivering data and insights in real time. It also offers self-servicing solutions and advanced analytics in industries like manufacturing, IT, healthcare, oil & gas, agriculture, retail, travel, and many more. Infosys customizes the solutions to suit the client’s requirements. It is an effective analytics as a service provider for large establishments. 3. Accenture Accenture is a global consulting company with numerous clients from the Fortune 500 list. It offers customized managed analytics services to help businesses revamp their outdated systems and benefit from data-driven models. The company promotes the adoption of artificial intelligence to give enterprises an edge over competitors. It offers varied data services to enhance speed, scale, and innovation. Accenture provides 360-degree value to businesses by helping them embrace change to adopt the latest technological solutions. The company’s data analytics services and cloud-based analytics as a service solutions are designed to support enterprises unlock the full data potential and make decisions using real-time insights. 4. Deloitte Deloitte is a group of firms offering varied services to business organizations from around the globe. It specializes in tax consulting, IT services, and analytical solutions. The company’s strategy and analytics services are aimed at helping businesses leverage proprietary solutions for greater agility. It combines the power of AI and managed analytics to provide automated insights through customized dashboards. Deloitte also offers DataOps services to facilitate seamless digital transformation. The company works towards making businesses sustainable by creating a long-term strategy and providing continuous support to implement it. The company has many clients from the Fortune 500 list and works with the world’s leading brands from various industries. Its analytics as a service model helps many businesses from different industries to unlock the potential of their data. 5. TCS Tata Consultancy Services is a global business process transformation company offering diverse services to small, medium, and large enterprises. The company boosts business performance with accelerated analytics managed services. It helps clients use analytical insights for product development, enhancing customer satisfaction, and achieving business goals. TCS follows a four-fold approach for data management, automation, scalability, and cloud management. It creates a robust data ecosystem for businesses to tap into the unexplored potential and gain competitive advantage. The company sets up embedded analytics through analytics
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