Analytics-as-a-Service (AaaS) is a type of Cloud service. It provides access to data analysis software and tools through the Cloud, rather than having to invest in on-premise software.
AaaS services are complete and customizable solutions for organizing, analyzing and visualizing data. The objectives are the same as for on-premise solutions, namely, to provide information that can be used to make better decisions.
These tools offer different data analysis methods and technologies such as Data Mining, Predictive Analysis, Dataviz or even advanced techniques such as Artificial Intelligence and Machine Learning.
One of the main advantages of AaaS solutions is that these services are based on a subscription model. As with other types of Cloud services, the user pays only for the resources he or she consumes. This typically saves money compared to purchasing on-premise software and the accompanying license.
Analytics as a service also provides access to the benefits of data analysis without the need for one's own Data Warehouse and a full team of Data Scientists. The infrastructure is managed by the service provider, and some have their own experts allowing you to completely outsource the work.
Across all industries, more and more companies burdened with untapped data are turning to analytics solutions as a service. Faced with a shortage of Data Scientists and other experts, this is often the best alternative. With these services, members of any team can access the benefits of data analysis without having to master the theory and technologies required.
Even organizations that already have in-house expertise can use AaaS to relieve their Data Scientists from the simplest analysis tasks. This allows experts to focus on more complex analyses.
Indeed, there are hybrid forms of AaaS that allow you to combine your existing infrastructure with Cloud services. In this case, only part of the data analysis will be outsourced via the cloud.
However, analytics as a service may not be suitable for all companies. It is essential to identify and define your needs, so that you can choose a service that meets those needs without offering unnecessary functionality.