Why Businesses Are Opting for Managed Analytics Services (MAaaS) in 2021
Top-line growth, bottom-line savings
→ Prioritizing Data-Driven Decision-Making
Business organizations are prioritizing data-driven decision-making as a means to keep pace with their competitors and the market. While a difficult enough challenge in itself, factors like the pandemic, increased global competitiveness, and the collective focus on digital transformation have all individually accelerated the demand for higher quality insight.
But because higher-quality insight has analytics at its core, there is immense pressure on data and analytics teams to operate above and beyond what they're capable of.
These teams are understandably struggling with a number of obstacles, including:
Complexity: data environments and cloudscapes are quickly growing in complexity, size, and cost
Limited resources: These intricate webs of systems, applications, policies, and bureaucracies are becoming even more of a challenge to navigate and manage given the limited amount of skilled resources and personnel available to help untangle these webs.
A growing amount of data: International Data Corporation (IDC) has estimated that the total amount of data created worldwide is expected to grow by 163 zettabytes by 2025, with the amount subject to data analysis to grow by a factor of 50.
Steep backlogs: even the strongest in-house data and analytics teams are currently facing a steep backlog of analytics that they owe back to the business.
International Data Corporation (IDC) has estimated that the total amount of data created worldwide is expected to grow by 163 zettabytes by 2025, with the amount subject to data analysis to grow by a factor of 50.
So where do Managed Analytics Services (MAaaS) come into play?
In the same way that companies shifted resources to the cloud, more companies are shifting to Managed Analytics Services to help alleviate these difficulties, direct more of their energy (and budget) into improving products and services, and leverage teams to make intelligent and profitable decisions - all without a heavy, upfront investment.
In 2021, the organizations that begin the process of outsourcing managed analytics efforts will find themselves better suited to focus on process improvement and other value-add activities, and this trend will continue in the coming years.
From Gartner Predicts, 2020:
MAaaS from Process Tempo is an analytics solution that helps your entire team make intelligent and profitable decisions leveraging your data without a heavy upfront investment. By choosing an efficient, fast, and cost-effective path to insights, we can help you beat your competitors in today’s data-driven, competitive digital economy. By adopting MAaaS, stakeholders can focus on achieving sustainable and predictable profitable growth.
Stay tuned for upcoming blogs as we go deeper into how to determine whether Managed Analytics as a Service is a fit for your organization.
What is Process Tempo? Process Tempo is a hybrid cloud, data management & analytics platform that breaks down silos to allow people, processes, and technologies to seamlessly work together. The platform supports a secure, governed, scalable, and high-performance environment for analysts and data scientists while serving as the foundation to deliver insights to all employees. It helps to deliver markedly fast, actionable, and accurate insights, easily incorporates a semantic data layer to curate and recommend information from across the organization, and makes every employee a first-class citizen in contributing insights and feedback to make the organization smarter over time.
Learn more about the platform here.