Market research report search engine predict market for data analytics, outsourcing to be valued at staggering $20 billion by 2026, and of CACGT of 29.4%. These reports mark the importance of outsourcing of data analytics in the upcoming few years! So, let us examine the benefit one could reap through outsourcing your big data initiative.
Outsourcing is a business practice in which service or job functions are framed out to third party. In Big data initiative it focuses on wide range of operations such as big data processing, analysis, storage and management. Companies may choose a service on shore (within same country), near shore (to other countries lies in same time zone) or offshore (to more distant country).
It is no longer a question of “IF” you should incorporate big data into your operations. What your business should be looking out for if “How to get started”.
Recruiting big data analytics team can slow down company’s development on many different levels. That means hiring top big data experts may force drastic budget cuts in other departments especially during these tough economic times. Cutting down your budget for key services will definitely have an effect on your company’s overall profitability and outsourcing big data tasks is definitely the best solution.
Reasons why you should outsource your big data initiative?
1. Win by all means
Consultants are specialized and dedicated to value delivery away from normal operational disruptions. With big data consultants, there is no chance for delay, you must win either way.
2. Room for innovation & operational disruption
Outsourcing of data makes way for innovative and creative ways to interpret data by special analytics.
3. Save cost and time
Save on cost of hiring, on-boarding, and training a new hire. It takes at least 6 months to get a good champ in data analytics. Their attrition rate is high
4. Quality of work
Consultants adopt best practices and follow through individual deliverables as per their mandate. You can be assured of a self-push to delivery.
5. Solves the problem of hiring wrong candidate
It is the responsibility of the consulting firm to seek for best skills while ensuring timely delivery.
6. Higher success ratio
Outsourcing provides higher success ratio than traditional methods of hiring.
To make it work, be certain of your needs. Clearly state the need for having a dedicated outsourced analytics team. The output/deliverables must be precise, clear and ones that truly inform your decision-making.