Big data as a service (BDaaS) is the delivery of statistical analysis tools or information by an outside provider that helps organizations understand and use insights gained from large information sets in order to gain a competitive advantage.
Big data as a service is intended to free up organizational resources by taking advantage of the predictive analytics skills of an outside provider to manage and assess large data sets, rather than hiring in-house staff for those functions. Big data as a service can take the form of software that assists with data processing or a contract for the services of a team of data scientists.
Organizations have invested heavily in tech tools to better identify, capture and analyze data in order to open up a new world of business-focused insights. Many, however, still struggle to keep up. Developing a Successful Big Data Strategy for Your Business, provides a sweeping perspective of the possibilities. It’s astonishing how companies still undervalue data’s importance and benefits. Since IT departments have the lead role in helping their organizations take charge of data, here are following eight big data realities to provide direction.