Data Analysis as a Service Can Cut Customer Costs
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Data Analysis as a Service Can Cut Customer Costs
By Gina Roos -
Big Investments
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. -
Reporting Challenges
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. -
Open to New Solutions
23% of respondents rated the concept of a cloud-based analytics software and service solution "excellent," and 59% said it was a "good" idea. -
Top Wish List Services
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%). -
Big Benefits
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. -
Packaging Options
71% said they prefer a hybrid of standard and custom solutions, 9% prefer a fully custom solution and 8% prefer a fully standard service. -
Customization Rules
58% said they were interested in a custom analytics solution in the cloud while 32% wanted a packaged solution in the cloud. -
If You Build It, They Will Buy It
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." -
Delivery Model Preferences
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%). -
Pricing Models
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.
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Why Metrics Matter to the Channel Enterprises still face significant hurdles in capitalizing on the benefits of data analytics, according to a new survey of business-to-business companies. The survey, released by Data Intensity and conducted by Researchscape International, finds that 63 percent of survey respondents (including C-level executives, directors and vice presidents) said it's taking them too long to get meaningful reports and insights from their data to make better-informed business decisions. Some of the biggest complaints include inaccurate data and that the data is too difficult to access and to use. Most companies believe data analysis as a service, in which "the technology and underlying data science is provided by a service provider," will help address this challenge, the study said. In fact, 92 percent of respondents said they were (completely/very/moderately) likely to buy a cloud-based analytics software and service solution. Here's why service providers need to take a closer look at data analysis as a service to help their customers lower their costs and better leverage their data.