Small & Large scale enterprises are turning towards Data Science &Analytics services to improve employee productivity, operational efficiencies & create high-quality products for clients & consumers.
Nowadays, most companies leverage in-house Data Science capabilities to address various business issues. However, the requirement of skilled personnel coupled & complex computing systems is driving companies to look for simpler solutions. This is where DSaaS can come as an effective alternate solution. So, what is this innovative service all about? Read on to find out!
What is Data Science as a Service?
To put it simply, DSaaS or Data Science-as-a-Service refers to the outsourcing services provided by Data Science Service Providers via cloud-based platforms. These services are leverage by organizations that don’t have or don’t want to invest in computing systems for in-house data science capabilities. These companies can seamlessly leverage cloud-based platforms to carryout Data Science & Analytics of their business processes.
How does this service work? Read on to know more!
How does DSaaS Work?
The Data Science-as-a-Service comprises 3 common components namely:
- The Service is a Cloud-Based Delivery Model
The innovative Data Science-as-a-Service primarily leverages a cloud-based delivery model which consists of various data analytics tools.
These tools can be seamlessly configured by the company as per business needs. For instance, if your organization generates huge amounts of data, then you can program the delivery model in such a way that it can efficiently process all the data it receives.
- Enterprises Upload their Data on the Cloud
As you already know, Enterprises both small & large deal with huge amounts of data. If this data is not processed in a proper way then companies can lose valuable insights.
However, such organizations can leverage DSaaS to seamlessly carry out analysis of the troves of data generated from various business processes. This analysis is primarily done with the help of effective analytical apps provided on the DSaaS platform.
To put it simply,
- Data is fed into the cloud-based delivery model
- Analytical apps analyze & harmonize data workflows
The workflows mentioned above are created with the help of collection services that carry out analytical algorithms.
- Data Scientists leverages the DSaaS Platform to get Results
After the data upload &Data scientists can seamlessly access the cloud platform or the cloud database to work on the uploaded data. DSaaS services are mostly subscription-based models. Therefore, companies can avail of these services as per business needs.
Benefits of Data Science as a Service
The primary goal of DSaaS is to empower organizations to effectively reach their business goals. How? With the huge troves of data that the business generates every single day!
This data might look scrambled superficially. However, if you leverage Data Analytics techniques &DSaaS platforms to look closely, you will realize the true potential &opportunities’ provided by your company’s data.
With the help of Data Science as a Service & its various tools, your organization can seamlessly learn from past & present data. These learnings can then be applied to make accurate forecasts or predictions that can be leveraged to make informed business decisions.
To put it simply:
DSaaS enables your business to transform the existing data of your organization into structured information. This information can be deciphered to gain valuable insights & knowledge about your business processes.
With the help of DSaaS, organizations will be able to answer pressing questions like:
- Which products to restock & when to restock them at stores spread across various locations?
- In the upcoming months, which customers will churn (leave your business) most likely?
- What are those products which have the highest potential of cross-selling?
- How many customers will reach your hotel without reservations?
- Where should carry out the maintenance activities first?
- When it comes to a holiday sale, what should be the ideal pricing for seasonal products?
- How can I find optimal delivery routes to minimize delivery costs?
These are just a few questions that you can get an answer to with the help of DSaaS. However, there are many other challenges & business issues that you can face & solve with ease with the help of Data Science as a Service& allied applications.
ARSR holds expertise in Data Science & Analytics and offers a wide range of services like Diagnostic, Descriptive, Prescriptive & Predictive to organizations so that they can improve productivity & operational efficiency which in turn leads to excellent business growth.