The latest in the long line of Cloud acronyms is BaaaS—Business Analytics as a Service, also known as Analytics as a Service (AaaS). This is not just a fad. BaaaS has something unique to contribute to the dynamic environment of a business. It is a natural outgrowth of the fact that large amounts of data are being stored online, and these stores are platform independent and highly portable across applications.
BaaaS offers a sandbox for data analytics within and without the enterprise. The tool allows users bring in selected data from multiple sources and to analyze it, in order to arrive at answers to a variety of business critical questions that may enable the enterprise gain hindsight or forecast future directions of action. Advanced analytic models can be created and implemented with the help of BaaaS consultants available with Cloud backup services as part of a package or internal experts wherever available to the organization. Business groups pursuing a common goal can exploit centralized, but liberated data bases in the public domain to cull out information about market trends / patterns or customer expectations without replicating the data or analytic processes ad inifinitum. In other words, Cloud computing and IT can be made to collaborate with business in leveraging data and creating value for the business.
BaaaS is seen to benefit organizations in three ways:
- Drives growth as it provides deeper customer insights and promotes product/service innovation,
- Reduces costs by optimizing operations and providing better financial performance analysis, and
- Improves risk management by ensuring regulatory compliance and controlling internal risk factors.
As data volumes balloon and speed to insight becomes critical, more and more organizations are turning to the Cloud for coping with data analytics requirements. Businesses can no longer afford to wait for six weeks to six months to get their servers and other hardware in place for data analytics. It must be done here and now. The on-demand Cloud is consequently a very attractive platform for data analytics. It acts as a stovepipe for channeling and restructuring silos of tools / platforms / information into a flexible analytical infrastructure. The virtual data warehouse is also seen to have the capacity to dynamically pull in data from multiple sources, as and when needed.
The trajectory is very clear. BaaaS is an emerging and attractive operating model in the Cloud! Need help with data analytics, contact us for a free, no obligation consultation.