Data Analysis as a Service Can Cut Customer Costs
By Gina Roos
36% of respondents said they spend $100,000 to $499,000 on analytics solutions, including systems, people and processes, 26% said they spend $500,000 to $999,999, and 20% spend $1 million to $9 million.
63% said the biggest problem with analytics is that it takes too long to get meaningful reports and analysis from their data. Other challenges include inaccurate data, difficulty making business decisions and doing predictive modeling, and obstacles getting access to existing data.
23% of respondents rated the concept of a cloud-based analytics software and service solution “excellent,” and 59% said it was a “good” idea.
58% cited data analysis-as-a-service as the most desired service, followed by data modeling (47%), business consulting (43%), dashboard development (42%), master data management (36%), mobile data analytics (34%), and merging internal data with external data (30%).
70% of respondents rated an analytics software and service solution as “very” or “completely relevant” to their business, and “very” to “extremely” beneficial to their business.
71% said they prefer a hybrid of standard and custom solutions, 9% prefer a fully custom solution and 8% prefer a fully standard service.
58% said they were interested in a custom analytics solution in the cloud while 32% wanted a packaged solution in the cloud.
If the price is right, 45% said they are “very likely” to buy the services solution, 20% said “completely likely” and 27% said “moderately likely.”
58% said their preferred delivery method is to “create a custom analytics solution in the cloud,” followed by “transfer your existing analytics solution to the cloud” (43%) and “packaged SaaS analytics solution in the cloud” (32%).
Of the proposed pricing models, 43% of respondents preferred monthly recurring fees, 38% preferred annual recurring fees, 29% wanted a one-time fee and 18% favored a mix of one-time and recurring fees.