What is Insights-as-a-Service (IaaS)?
Insights-as-a-Service uses predictive analytics and business intelligence to glean effective actions from data warehouses. Companies often don’t have the robust infrastructure and IT personnel needed to parse valuable insights from the enormous volumes of data that they constantly produce.
IaaS platforms address this need for in-depth analytics on the cloud and provide solutions to unique data-specific challenges. Moreover, it allows companies to reduce their costs significantly by removing the need for data scientists and complex infrastructure required to run analytics on-premise.
IaaS focuses on providing a visually appealing and comprehensive data set that helps optimize operations and enhance revenues. This is vitally important for companies that keep their data in separate silos, as well as attempt to scan it manually, or on-premise.
IaaS manages to merge both internal and third-party data sets, and uses AI to efficiently scan these sets quickly. IaaS’ cloud-based embedded analytics are a cost-effective way for companies to go from simply viewing data and interpreting it historically to actively analyzing and deriving real-time insights from it.
How can I use Insights-as-a-Service (IaaS)?
One common problem many companies—and especially larger ones—face is the fragmentation of data and its impact on decision-making. Different departments use specific sets and limit their insights, leading to less effective outcomes.
Nevertheless, many companies are content to keep data siloed, even when they use tools which can capture various data streams simultaneously. The frequent disconnect between these and other departments means that companies aren’t getting the most out of their data.
Nowhere is this more apparent than CRM. Even if every department in the company uses the same CRM platform, customer profiles are likely to be fragmented across different accounts and listings. IaaS can create a more holistic approach to consumer data by creating a more comprehensive picture.
Instead of fragmenting data, IaaS platforms let companies create a unified data set that is easily scanned and queried for better insights. Combined with AI and machine learning algorithms, IaaS also expedites the process of deriving insights.
See it in action:
For companies operating on a smaller budget, IaaS’ cloud platform offers a secure, scalable approach to parsing and monetizing burgeoning datastreams. IaaS solutions are constantly evolving to address companies’ specific data problems, helping them discover what data is redundant, what external data them should purchase, and how this data can be meaningful to their bottom line.