Big Data Analytics Outsourcing: Improve your Business Decision Making with Analytics

Sep 30,2021 by Neha Dubey

By the year 2022, Statista estimates the big data market to reach 274.3 billion U.S. dollars. More and more companies are leveraging big data to remain competitive. In fact, given the growing complexity of business data, companies are turning to third parties to meet their analytics needs.

But the question is how your business will benefit from it. How can you choose a reliable big data analytics outsourcing provider?

Let’s find out!

How can your business benefit from Big Data Analytics Outsourcing?

The business world is increasingly relying on data-driven innovation, which leads to less error-prone operations; yet, most companies cannot afford in-house analysts, so outsourcing becomes a viable option.

Here’s how you can benefit your business from big data analytics outsourcing services:

1.   Cost Reduction

The covid-19 outbreak has made big data analytics outsourcing more popular than ever before. Gartner estimates that global economic impacts will vary from $2T to 4.5T. Thus, optimizing operations and reducing costs became top priorities for most companies.

Hiring professionals from countries like India, where the cost of outsourcing big data analytics services is lower, is more cost-effective than finding specialists locally. Moreover, these specialists are hard to retain. Due to their growing demand, they can be easily allured by bigger companies. It is one of the reasons why your company must consider hiring offshore experts.

2.   Diverse technical and domain expertise available

Outsourcing from well-established IT companies helps you associate with professionals with robust expertise in the field of data engineering, DevOps, Clouds, etc. These professionals will help you achieve the task with utmost precision and diligence.

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Plus, if you partner with a big data company that offers a range of services, they usually have experience with a range of scenarios and can find the most suitable and efficient solution for your business. Most importantly, they will help you mitigate risks and save you big on costs.

3.   Better productivity & competitiveness

The truth is that some companies still think they can survive without analytics. But in reality, even the slightest amount of competition should become an impetus for analytics. That is why big data should be a part of your business strategy.

Using big data analytics services has proven to be a profitable strategy for companies like Amazon and FedEx for over a decade now. Amazon has a large number of in-house data scientists who develop algorithms around their customers’ daily needs. Getting access to huge amounts of data on the customers allows companies to identify their customers’ needs and offer them relevant products, which, in turn, increases the chances of a sale. So, if you too want your business to stay ahead of the game, outsourcing is the way out.

4.   Offers Customer-centricity

In the B2C world, data analytics is essential for customer-centric companies as it allows them to learn more about their customers, even anticipating their needs. Every company dealing with millions of customers knows that segmentation, targeting, and positioning (STP) is the only way for the right message to reach the right customers at the right time and in the right channel. It is why it becomes of pivotal importance that you outsource big data analytics. They will not just help you reach potential customers but will scale up your business as well.

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5.   Flexibility

It is the biggest advantage of outsourcing big data analytics services. When you outsource professionals with expertise for handling your big data, you get the flexibility to focus on other aspects of the business.

Now that we have learned how big data outsourcing can help your business in the long run, let’s move on to understand how to outsource the one that is right for your business.

Scroll down to find out!

How to pick the right partner for big data analytics services outsourcing?

1.   Check if they can scale your business

Always look for a partner who does not only help you with your big data projects but scales them efficiently. Check on the expertise of the vendor on big data, cloud, DevOps, etc. Since not all vendors can scale up your big data solutions, you must look for the one who has the expertise with the solution and its architecture to scale the data in the cloud.

2.   Check on their security policy

An outsourcing provider must adhere to certain international security regulations. Being compliant with ISO 27001 is installing administrative and physical controls to make sure that information assets are confidential, properly managed, and available.

Furthermore, you should ask your business process outsourcing partner to comply with the best practices to ensure data security on your big data analytics projects. Additionally, implements static code analysis and vulnerability scans for third-party libraries. Moreover, they must also cross-check whether the traffic is encrypted.

3.   Go through their records and their previously handled projects

Big data outsourcing companies should have a track record of successful project delivery and have extensive experience with cloud technologies, platforms, and tools. Make sure you do proper research about the vendor to ensure you are investing at the right place.

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4.   See if they follow agile processes

To offer the best results, your partner should be using Scrum-based agile methods to incorporate feedback in an iterative process, preventing costly rework. This process allows for testing, measurement, and scaling ensuring results that match your business objectives.

Tips to turn your outsourced project into a success

Your outsourced project success is a two-way street. Help your project run smoothly using the below-listed tips:

  • Define your goals clearly.
  • Conduct feasibility studies and market research.
  • Choose a provider in the time zone you find most comfortable.
  • Pick a provider with expertise in Big Data Analytics.
  • Check if they can meet your compliance requirements.

Read moreModern Big Data Analytics Services: The Business Advantage!

Wrapping up

Big data analytics, in general, is used by more companies than you may think to find a competitive advantage and reduce costs. Companies such as Google, eBay, and Facebook use big data analytics and are leading the market. So, if you have not considered outsourcing big data consulting services for your business yet, do it now to take your business to new heights.

At Cyfuture, we follow an agile approach and deliver realistic and game-changing insights with precision to ensure your business achieves sustainable success. Connect to our experts now at [email protected].                                                                                                                                                                                                                                                                                                                     

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