Outsourcing data analytics can speed up the data transformation journey of a business. Here are the key advantages of outsourcing data analytics. To Read the Full Article: https://www.datatobiz.com/blog/advantages-of-outsourcing-data-analytics/

1. Key
Advantages of
Data Analytics
Outsourcing

2. About the Topic
Data analytics is the science with
which a business can utilize raw data
to derive meaningful insights and
conclusions to support business
growth.
Data analysis can help a business
increase productivity and
performance in a variety of areas like
marketing, logistics, finance, sales,
customer service, etc.
Outsourcing data analytics has the
potential to accelerate the growth of
any business.

3. 1. Professional Assistance
By deciding to outsource data analytics,
a business has a chance to access skill
sets that may otherwise be in short
supply in the market.
It is a known fact that talent is in short
supply in the IT industry. As a result, a
business is better placed to have access
to professionals who have deep
expertise in areas like cloud computing,
advanced analytics, big data, data
science and data lakes.

4. 2. Industry Expertise
While some analytics functions are
universal, some industry-specific
functions can prove to be critical in
effective data management.
For instance, sectors like healthcare and
financial services can have specific
analytics functions that are required to
build capabilities in the area of data
analytics.
Therefore, getting an industry partner
that has deep expertise in that particular
sector can help accelerate the data
transformation journey for a business.

5. 3. Easily Scalable
Apart from the fact that outsourcing
services can help a business
achieve data analytics skills quickly,
it is equally helpful in creating a
scalable ecosystem that may
otherwise not be easy or possible to
create with in-house capabilities.
Effective data analytics requires a
level of scalability and complexity
that may not be possible to achieve
in-house.

6. 4. Ensuring Compliance
With the increasing amount of
data, it is becoming increasingly
important for businesses to
comply with various regulations
regarding data capturing,
processing, storage and usage.
With a professional data analytics
partner on your side, the business
is better equipped to understand
and handle compliance
requirements.

7. 5. Greater Use of Data
It is often said that data is the new oil.
With its increasing importance, there is a
possibility to leverage data effectively for
business growth.
As machines have adopted the role of
processing data, the entire value chain of
data and analytics has undergone a
massive shift.
As a result, outsourcing data analytics is
the need of the hour for several
businesses that are looking at making
greater use of data in business
operations.

8. 6. Faster Results
Time is of the essence in the modern
world that we all live in. Businesses are
looking for faster and more effective
results.
By opting to outsource data analytics,
you have a better chance of achieving
faster results.
This is not because the outsourced
team is good at time management
but mainly because you did not have
to spend time setting up the
ecosystem and onboarding & training
the team.

9. 7. Focus on Core Activities
Opting to outsource data analytics
can free up resources for the business
to focus on its core activities.
Whether it is a start-up, a medium-
sized business, or a giant
conglomerate, it is important to have
the right priorities and focus on the
core activities of the business.
A business is better placed to grow in
its core domain rather than following
a hit-and-trial strategy in establishing
data analytics.

10. 8. Lower Costs
Outsourcing the data analytics
function is more cost-effective as
compared to hiring, managing,
training and maintaining an in-
house team of employees.
As the outsourced partner can
achieve economies of scale or
may have lower costs of
operations, a business can spend
less money for better capabilities in
the area of data analytics.

11. Conclusion
The what, why and when of
outsourcing data analytics can be
different for all businesses.
However, as explained above, it has
the potential to bring in several
advantages.
One of the biggest rebuttal counter
viewpoints against data analytics
outsourcing is the need to have
adequate control over the data
management processes of the
organization.

12. Thank You For Reading!
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