Blog: Data Insights

Discovering the Benefits of Business Analytics as a Service

November 8, 2021 - by Synoptek

As the demand for efficient processes, accurate forecasts, and personalized experiences intensify, the strategic ability to continuously analyze data, generate insights, and provide the right products and services can take organizations afar. Data analytics has become a core pillar of businesses today, empowering organizations to become as data-driven as possible to shape the overall customer experience. But starting and sustaining the analytics journey without expert support is not easy; neither is building a full-fledged in-house analytics team to keep up with the employee, customer, and business expectations. Given the volume of data growth, embracing Business Analytics as a Service is a great way to reduce costs and shorten lead time to deliver value.

Uncovering the Benefits of Business Analytics as a Service

Leveraging cutting-edge analytics capabilities via Business Analytics as a Service is an excellent way for organizations to get a subscription-based service to manage their evolving analytics needs. Not only is it a more scalable and cost-effective way of leveraging the latest analytics capabilities, but it also allows you to accelerate time-to-value via quick and efficient decision-making. Offered by a world-class team of data experts via a flexible and scalable global delivery model, Business Analytics as a Service ensures you have access to the latest industry-standard tools, processes, and best practices to maintain your growing data warehouse, receive the most accurate dashboards and reports, and make timely and informed business decisions.

Because you only way a predictable subscription fee, instead of making a significant upfront investment on complex analytics tools and technologies, you can spread overall costs over a period of time while also not worrying about periodic updates and maintenance of your analytics software. Everything is taken care of by your service provider: right from implementing upgrades to resolving issues and more.

Here Are the Top Three Benefits of Embracing Business Analytics as a Service

1. Empowering Your Employees with Data

If you want your employees to make the right decisions, you need to provide them with the right data. Business Analytics as a Service empowers employees with the data, they need to transform the efficiency of their daily tasks. Qualified experts working around-the-clock can ensure your business data is constantly updated, cleaned, and analyzed, so your employees can use it to power decision engines and improve business outcomes via better operations, better productivity, and better competitive position.

2. Providing the C-Suite with Better Insights

Business Analytics as a Service benefits not just your front-line employees or middle-level managers; they are a great source of insight for your C-Suite as well. With macro-economic trends, industry regulations, and market dynamics constantly changing, Business Analytics as a Service can provide the C-Suite with all the skills they need to keep track of the latest trends and use data to their benefit. It can allow executives to adopt a data-driven culture and make critical decisions by combining insights and trends – without being bogged down by the high cost of ownership.

3. Strengthening the Customer Experience

No matter what the business goal is, in the end, it all boils down to offering a gratifying customer experience. Business Analytics as a Service allows you to work with the latest customer data, so you can craft highly tailored customer experiences that drive high levels of loyalty and satisfaction and deliver the right returns on investments. With the rise of digital, tech-savvy customers, Business Analytics as a Service ensures you capture customer-related data across all touchpoints and get your hands on a micro-level view of customer needs and preferences like never before. By constantly turning customer data into insights, you can get a birds-eye view of your customers while personalizing services and enhancing customer experiences in a scalable manner.

How Synoptek’s Analytics as a Service Can Take You There

Business Analytics as a Service offers significant benefits in terms of speed, cost, and flexibility. Not only does it provide you with the data you need when you need it for quick and accurate decision-making, it also greatly brings down the cost of investing in highly skilled resources or advanced systems – while easily and efficiently meeting the evolving analytics demands of your business.

Synoptek Analytics as a Service offering, so you can outsource all your analytics-related requirements to us and focus on building niche skills and driving core capabilities. By combining external data science expertise with modern tools and systems, we can help you bring about faster, more productive, and cost-efficient results.