What Are the Benefits of Data-as-a-Service?

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While data and information are considerably different, data remains the basis upon which information is formed if we can agree that power and data fuels knowledge in that vein. It’s safe to say that the importance of data to any organization is indispensable.

Many organizations presently pay close attention to how their data is stored. However, managing big data and turning it into actionable delivery remains a challenge. To overcome the struggle of knowledge gaps, limited funds, or talent when making data valuable and profitable, proactive leaders have adopted DaaS software. But what exactly is DaaS, and what are the benefits of this service? Continue reading to find out.

What is DaaS?

DaaS

DaaS is an acronym that represents data as a service. It’s a technology solution that formed a part of the ‘As-a-Service’ offerings that gained popularity in the 1990s (with the internet’s birth). In simple terms, DaaS is the sourcing, management, and delivery of data in a usable format. DaaS permits organizations to lay the foundation for digital innovation, and this is precisely what DaaS companies support.

Most DaaS companies help businesses to fully utilize their data by unlocking the value of real-time data and promoting quick decision-making processes. They understand that it needs to be data-centric for any business to be digital by surrounding itself with these three pillars: connect, unify, and predict.

With the help of an enterprise-level DaaS company, different organizational units and teams can seamlessly connect to any data source, unify intelligently, and predict outcomes confidently. With these services, administrative units can now interpret data from different sources and set out goals more efficiently.

That being said, here are a few benefits of DaaS.

Benefits of Data as a Service

Data as a Service

1. Agility

One key benefit of DaaS is agility due to how easy it is to access data. Businesses no longer need to have extensive knowledge of the underlying data or stick to a particular data structure; they can make decisions faster. Furthermore, there’s the advantage of the ease of administration and collaboration. Teams can easily collaborate to achieve project goals and business growth as the data is readily available and reliable. They can equally implement their preferred data structures.

2. Cost-effectiveness

The cost of managing and wrangling big data can be quite expensive. Even then, the reliability of the same data is questionable. With DaaS, businesses can have their base built by providers while the presentation layer is outsourced. This makes for a cost-effective user interface.

It also ensures that changing requests is much more feasible at the presentation level. Furthermore, outsourcing the performance layer decreases the overall cost of data maintenance and delivery.

3. Data Quality

DaaS provides a solution to the everyday struggle of maintaining data integrity by controlling data accessibility through data services. Data integrity is also protected on DaaS through the implementation of control devices such as encryptions and passwords. The presence of a single update point ensures data quality. Once you run an initial test on services, only regression testing is necessary to remain unchanged for the next deployment.

4. Risk Management

The absence of reliable data and information is what pushes businesses towards making decisions based on guesswork. These decisions are practically a gamble. They may or may not turn out to favor them. When organizations make uninformed decisions, they’re more likely to expose themselves to risks and failures. Using DaaS helps organizations mitigate the risks that come with making decisions based on unreliable or incomplete data.

5. Promote transparency and business growth.

Data quality reliability when using data as a service makes it easier for businesses to leverage data providers’ specific experiences when coming up with solutions. There’s transparency within the system and among teams that makes it easy to arrive at informed decisions that lead to growth.

The world is fast-changing, and the only way to stay ahead is to move with the times. Using a Data-as-a-Service provider is one of the best ways to maintain the integrity of data and analytics and ease the accessibility of data for stakeholders. Businesses that adopt this method of data storage are more likely to thrive in the modern age.