Big Data is everywhere. It’s hard to find a sector of business or utility where big data does not play a key differentiating role today. Healthcare, Retail, Transport, Weather Forecast, Finance and Banking to even military and defense sectors rely on big data applications to make key decisions. Analysts predict the market size for big data and analytics to surpass $125 billion in 2015.
Considering the fact that companies investing in big data solutions on their own have to shell out a fortune for their internal IT teams, a new trend of Big Data as a Service (BDaaS) is fast rising. It is a service arising out of offering big data applications on the cloud thereby creating an on demand fulfillment model of big data services.
We have seen the advent of SaaS, PaaS, IaaS, etc. and now it is the turn of Big Data as a Service or BDaaS. The acronym might sound a bit eccentric to some but BDaaS is definitely rising as a new service offering by IT giants across the spectrum. Analysts from the likes of Forbes estimate the market value of BDaaS could be as much as $30 billion today. BDaaS comprises of a wide variety of service prospects. Any aspect of big data could be offered on the cloud as a service. It could be data storage, processing power, analytical tools, resource collaboration, mining tools etc. Other than the technology implementation support, even advisory can be up for grabs through such services. Expert advisors on cloud technology and big data integration can offer seamless guidance to business houses to migrate their data intense ecosystems onto the cloud without disruptions.
Now comes the question of why businesses need to seriously think about BDaaS for a secure future? Let’s have a look at the benefits offered by BDaaS:
Cut down costs
Setting up a big data ecosystem in a business with internal IT teams will definitely burn a lot of capital which could otherwise be used to spruce up more relevant business operations. Not to mention the costs incurred in staffing big data personnel. Average salaries of big data professionals linger in and above the $100,000 a year range and businesses end up paying more for IT staff than those involved in their core operations. When they can subscribe to big data services, staffing costs are reduced considerably.
With big data comes big infrastructure, be it associated hardware or complex software integrations needed for setting up big data ecosystems. Handling such intense infrastructure would require heavy investments in technical support, administration, security, policy compliances to name a few. Having all this taken care of by a service provider allows business to direct investments into areas that improve their bottom line.
By subscribing to a well-established BDaaS provider, your big data applications have the advantage of being deployed with proven technology architectures and functional layers. Well oriented service architectures ensure maximum efficiency for business application and companies can leverage the power of big data in the true sense.
With big data being offered as a service, BDaaS offers the dynamics of a real time on demand mode of operation. The right level of flexibility as required is offered and businesses can scale up or down their dependence on big data applications as per the need for information insights.
A business signing up for a BDaaS service gets expert technology advice on how to make use of the right apps to mine the right data sets to get the best insights. Rather than getting their hands on a large set of data clusters, decision makers can in fact replace their strategic thinking with the right insights. Choosing the right technology mix of databases, analytic tools, support systems etc. also serves to improve performance and efficiency.
With the BDaaS provider handling all the staffing and infrastructure needs of big data applications, businesses relying on these services are only left with the task of supplying data and retrieving insights which leaves a very low risk margin for them. Extensive security policies in place ensure data integrity and security are never compromised by BdaaS vendors thereby allowing businesses to enjoy its benefits to the fullest.
All over the world, BDaaS providers are offering businesses with never before seen potential to monetize their data. Some prominent examples include the like of IBM helping social media giant, Twitter, to offer advanced analytics to customers for monetizing tweets. As more cognitive BDaaS services are being offered and newer big data technologies being developed, the future is bright for BDaaS.
Get in touch with a BDaaS specialist from Suyati to know how your business can alter its DNA with smarter insights and bigger information harvesting. Visit http://suyati.com/ to know more about us.