Analytics-as-a-Service (AaaS) provides a business with affordable subscription-based data analytics software and procedures through the cloud. AaaS typically offers a fully customizable business intelligence (BI) solution with functionality including organizing, analyzing, and presenting data which allows non-tech individuals within a business to gain actionable insight. The quick ascension of big data and the oftentimes massive expenses associated with transforming these data sets for use, is leading businesses to opt for the cost-effective approach of AaaS over traditional on-premise solutions.
AaaS utilizes data mining, and various levels of analytics including – descriptive, diagnostic, predictive, and prescriptive – to reveal powerful trends and insights from a business’ existing data sets. In the past, these processes would require dedicated teams of data engineers and analysts and would be very costly. AaaS provides a scalable, affordable option for businesses of all types as well as those with different stages of growth. AaaS levels the data playing field.