Big Data can be defined as an information management that collects, integrates new kinds of data along with traditional data in the same place. It has evolved as the next trend in market evaluation, developing more opportunities over the years and taking strategic decisions in an informed manner. Up-to-date marketing information is a must for working on strategies to increase growth and popularity. Apart from measuring performance, using Big Data also helps in providing information on various critical developments, while focusing on market capacity and technology and adapting to the constantly-changing Big Data market, especially in terms of a service.
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What is the Big-Data-As-A-Service all about?
Big-Data-As-A-Service refers to the creation, integration and storage of new data along with traditional information. The data is then analyzed to gain insights into increasing profits and business growth in the future. BDaaS can involve a number of important functions such as –
- Supply of data
- Supply of analytical tools needed to analyze the data, such as a web dashboard or control panel
- Analysis of data and preparing reports
- Consulting and advisory packages
What are the uses of Big-Data-As-A-Service?
- The uses of Big-Data-As-A-Service can help in outsourcing analytics which involve large databases –
- BDaaS takes care of all the technical information on your infrastructure, which includes upfront costs, storage and management of large amount of information apart from investing in a lot of time, money and other resources.
- BDaaS allows you to rent cloud-based storage and analytics engine, along with compliance and data protection. You can either pay for the time that you use the services, or for the data you have used.
What does the Big-Data-As-A-Service Market really talk about?
- The concept of Big-Data-As-A-Service is a complete package comprising various national, international, regional and local vendors with many application-specific products available for different users. The use of technological innovation and M&A activities have greatly increased the market competition, which is expected to grow even higher in the future. However, the competition between local and international vendors is stark in terms of their reliability, quality and technology innovation.
- Some of the major companies that are dependent on Big-Data-As-A-Service are Amazon Web Services (US), Google (US), EMC Corporation (US), Hewlett-Packered Company (US), Microsoft Corporation (US), IBM Corporation (US), Oracle Corporation (US), SAS Institute Inc. (US), SAP SE (Germany) and Terandata Corporation (US).
How can Big-Data-As-A-Service be categorized?
- Big-Data-As-A-Service can be categorized on the basis of Market Segment as follows –
- Market Segment by Type –
- Hadoop-As-A-Service (HDaaS)
- Data-As-A-Service (DaaS)
- Data-Analytics-As-A-Service (DAaaS)
- Market Segment by Application –
- Healthcare and Life Sciences
- Retail and Consumer Goods
What could be the future of Big-Data-As-A-Service?
- These are some of the future developments regarding BDaaS –
- Though not all industries will benefit from Big-Data-As-A-Service as a whole, data volumes will continue to grow, thanks to Internet-connected devices.
- There will be privacy issues cropping up very soon, as the concept gets more and more familiar in the future.
- There could be a staffing shortage, concerning scientists, analysts, architects and data management experts.
- Autonomous agents such as robots, autonomous vehicles, virtual personal assistants and smart advisers will be used for BDaaS purposes by companies.
- Business using BDaaS will enjoy whopping $430 billion productivity by 2020, as compared to those not using data.
- In a nutshell, Big Data consulting service can soon create a revolution regarding market technology and research. As a user, you can thus be reassured about all the different features and benefits and reap the profits as you go.