Analytics as a Service: What Is AaaS?
From website clicks and CRM records to customer journeys and operational performance, your raw data is gold waiting to be mined. But with so much information collected across your company’s data sources, mining all that gold – or turning all that raw data into real, actionable insights – can be challenging.
That’s where Analytics-as-a-Service (AaaS) comes in.
What Is Data Analytics as a Service?
AaaS is a flexible, cloud-based solution that allows companies to leverage their data without having to invest in complex IT infrastructure or large data teams.
Because data analytics as a service can be scaled, businesses of all sizes (even startups) can now wield the power of big data that had been previously only accessible to large enterprises with large budgets and on-premise data storage facilities.
As the name suggests, a fully managed AaaS provider also offers data modelling, reporting, and interpretation. There are also self-service platforms like Microsoft Power BI where users can build their own dashboards and are given analytics tools for data preparation and modelling.
Whether your company is using self-service or a fully managed services model, all AaaS solutions provide the means to transform big data into big insights.
Key Characteristics of Data Analytics Services
While there are many managed analytics services out there, they all share these same characteristics:
Cloud-Based
As the service is hosted in the cloud, companies have the flexibility to access analytics tools and infrastructure online without needing to install expensive on-premise systems.
On-Demand Scalability
This service model offers a level of flexibility that might otherwise not be available in traditional data management services. With analytics as a service, resources can be scaled up or down to suit the needs of the customer at any particular time. This flexibility is what makes it ideal for both startups and large enterprises alike.
Subscription Models
As with most online software subscription models, companies choose a tier of services for which they pay a monthly or annual fee. There are few upfront setup costs, as there is no hardware, equipment, or physical storage to think about.
End-to-End Analytics Capabilities
Analytics platforms run the full gamut of the data lifecycle:
- Data ingestion and tech stack integration
- Data storage and processing
- Analysis (descriptive, diagnostic, predictive analytics)
- Data visualization and reporting
Accessibility for Non-Technical Users
With analytics as a service, data is accessible to everyone, with features like drag-and-drop tools and user-friendly dashboards. This is meant to help all employees, and not just data scientists, analyze data and derive useful insights.
Integration with Pre-Built Tools
AaaS solutions don’t require enterprises to wipe their operations clean of their existing technologies in order to work, and it would mean logistical and financial upheaval to do so. Instead, these service solutions integrate easily with a company’s existing tech stack, e.g., CRMs, ERPs, marketing platforms, and data warehouses.
Managed Infrastructure and Maintenance
The data and analytics service provider fully manages a company’s technical infrastructure, which reduces the dependency on in-house IT and analytics teams. That includes business activities like software updates, system maintenance, and data security and regulatory compliance.
Advanced Analytics and AI Capabilities
Automation, machine learning, and AI have helped teams put data in the rearview mirror. That is, with capabilities like forecasting and anomaly detection, companies can shift their focus to predictive and prescriptive analytics.
Big Data Defined
When we use the term big data, we really mean the immense and complex trove of information that’s generated and collected by your business. Big Data is characterized by its volume, velocity, and variety of formats, which is why it needs something more robust than traditional data tools to store, process, and analyze it.
With the help of a managed service provider, companies can use big data to develop business intelligence: find patterns (in sales, bottlenecks, customer issues, etc.), predict outcomes, and make more informed, data-driven decisions on an impressive scale.
Examples of big data:
- Customer transactions across online stores
- Social media posts, mentions, comments, likes, and shares
- State-wide health records
- Real-time data from wearable devices
- Customer behavior insights for risk scoring and loan approvals
- GPS and sensor data from delivery vehicles and fleets
- Real-time airline performance data
- Engagement data across campaigns, channels, and audience segments
- Call records, text messages, and internet usage logs
- Network performance monitoring data
If you don’t have information in a data-driven world, all your business decisions will largely be based on old models and shots in the dark. The only way to stay on the right side of the competitive advantage is to make informed business decisions based on data, data, data.
Why are we saying this? Because big data accumulates at an exponential rate, which means that the sooner you find an analytics solution, the sooner you can start using this large amount of information to help reshape business outcomes.
How AaaS Benefits Businesses
As we’ve mentioned before, AaaS is an end-to-end solution that turns raw data into business intelligence and actionable steps. Here’s how analytics-as-a-service solutions can benefit your business, whether it’s a two-person startup or a large enterprise:
In-House Data Infrastructure Costs Are Lower
There’s a reason data analysis software is accessible to businesses of all sizes: you don’t have to pay for on-premise storage space, nor do you need to hire in-house IT and data science teams to take care of hardware or analyze the data.
This flexibility enables companies to align their analytics capabilities with their evolving needs without facing exorbitant infrastructure costs.
While data and analytics services do come with entry costs, the long-term gains this solution offers will pay for itself in both the company’s newfound efficiency and cost savings.
Improved productivity, fewer data errors, and increased customer satisfaction rates can lead to a substantial boost in ROI.
Employees Are Empowered to Make Data-Driven Decisions
Data analytics tools help companies make the best use of their talent pool by arming employees with the essential data they need to plan, refine, collaborate, rethink, and prioritize.
But with intuitive and user-friendly features like dashboards and smart data visualizations that help non-data experts actually understand their data, employees have more time to work on essential tasks.
AI and Machine-Learning Integrations Allow for Advanced Analyses
Don’t forget that this subscription model looks at massive amounts of data, which would normally be the job of a huge team of data analysts to manage, interpret, and action. AaaS often incorporates cutting-edge tools like machine learning and artificial intelligence to do complex analyses in record time and provide teams with deep insights, no matter how niche the industry.
Customer Experiences
Advanced data analysis gives companies insights into customer journeys – their behaviours, preferences, needs, and points of friction. An analytics platform as a service can easily isolate where customer satisfaction wanes – from confusing AI chatbot responses to longer-than-expected wait times to difficulty navigating a website.
By pinpointing areas of improvement, companies can help fine-tune customer journeys and set the foundations for greater customer loyalty.
Discover Bluprintx’s Adobe Analytics Platform
Our Adobe Analytics consultants bring AaaS to life. We’re helping organizations integrate analytics throughout their operations with strategic consulting, smart integrations, and ongoing enablement.
Whether you’re working with Adobe Analytics or a broader data ecosystem, our approach ensures you’re acting on the right information at the right time.
By embedding analytics expertise into your team and aligning insights with your business goals, Bluprintx delivers accessible, scalable, and outcome-focused intelligence that empowers better decision-making.
