The data as a servicebetter known by its English term Data as a Service (DaaS), is a term used to describe cloud-based software tools used to work with data, such as managing information in a warehouse or analyzing with business intelligence. The objective is harness the data as a business asset, to generate greater effectiveness.
In fact, is part of the “as a service” offerings which have become increasingly popular since the spread of the internet in the 1990s, which began with the introduction of software as a service (SaaS). Similar to other “as a service” models, DaaS provides a way to manage the massive amounts of data that organizations generate every day and delivers that insight across the enterprise for data-driven decision making.
The DaaS approach focuses on the provisioning of data from a variety of sources on demand via API. Designed to simplify data access, it offers curated data sets or streams to be consumed in a variety of formats, often unified through virtualization. Indeed, a DaaS architecture could include a range of data management technologies including data virtualization, data services, self-service analytics, and data catalogue, Tibco claims.
Here are some of the benefits of using DaaS.
DaaS does not only imply improvements when it comes to taking advantage of the internal data of a company, but there are organizations dedicated to managing information effectively enough to sell this service to other companies. DaaS is essentially the availability of data streams that subscribers can access on demand.
DaaS companies are totally focused on data collection and its transformation into flows of relevant information, so that subscribers access the flows they need, when they need them. This essentially means greater agility for businesses as they can easily and effortlessly get the exact data they need.
Easy to manipulate data
Big Data in itself is not useful, since there is obscure information, since it is disorganized in most cases, so it is difficult for them to make sense to most business professionals, since the The true value of the data comes from the facts and trends obtained by examining them thoroughly.
DaaS makes it possible to alleviate these restrictions by offering data flows tailored to customer needs, saving valuable time and effort by enabling businesses to access the data they need in an easy-to-exploit format, making it easier to get value from this important asset. In addition, companies that are DaaS providers, apart from offering data sources, make it easier for customers to “browse” the data they need, according to Indra.
Leveraging the full range of a company’s data sources, uncovering insights and delivering it to different areas of the business to act more intelligently can greatly reduce time and money wasted on the wrong decisions. DaaS means less following your gut and more data-driven decisions, wasting fewer resources on unnecessary effort.
Additionally, DaaS can help businesses develop personalized customer experiences by using predictive analytics to understand consumer behaviors and patterns, better serve customers, and earn their loyalty.
Facilitation of innovation
DaaS needs to be thought of as a gateway to growth. With data at the heart of a business, growth will happen quickly. This is because data-driven strategies allow more innovation with less risk.
When reliable data is provided to the different departments and teams that need it, ideas based on that data have a better chance of gaining buy-in from other areas of the business and ultimately succeeding once put into action. Ideas can fly faster with access to data that communicates new initiatives and fuels growth.