Use of DaaS (Knowledge as a Service) instruments in your advertising evaluation

Data as a Service (DaaS) is becoming increasingly popular. New advances in cloud computing technology have made remote cloud-based data easier and more accessible to use and manage.

Organizations using DaaS platforms can see improvements in data collection, use, and management. In addition, outsourcing data management to DaaS companies means more internal capacity for business development.

Do you want to start with a DaaS platform? The following are the benefits, solutions, and tools that you can use to improve your data management strategies.

What is data as a service (DaaS)?

Data as a Service uses a cloud computing strategy to make business data available to stakeholders and third parties.

DaaS works similarly to Software as a Service (SaaS), which eliminates the need to manage and download software locally. Unlike SaaS, which has been popular for a decade, DaaS has only recently gained wide adoption, largely due to advances in cloud computing technology.

With inexpensive cloud storage and bandwidth as well as cloud-based platforms that were developed explicitly for DaaS, more and more companies are moving their data storage from local servers to the cloud.

With DaaS services, organizations are no longer tied to local servers and storage systems, so they can securely store and access data remotely, collaborate with global partners, and find critical business insights to drive new growth.

Put simply, with DaaS, you can access critical business data anytime, anywhere.

In the Gartner Hype Cycle, data and analytics services have already reached the plateau of productivity and show that they will persist in the market.

Data as a Service Gartner Hype Cycle Diagram

What are the benefits of using data as a service tool?

Organizations of all shapes and sizes can benefit from using data as a service tool.

Here are a few ways that data as a service tools can improve your current data management processes:

  • Remote collaboration: With DaaS, partners in different locations can work together because employees can easily access the data from their devices regardless of location.
  • Seamless data access: Cloud storage also means team members don't have to go to the office to download a file or review their analysis. This saves individual employees valuable time and energy.
  • Easy setup: Companies using these platforms can store and process their data immediately and with very little set-up time.
  • Fall protection: The cloud infrastructure is less likely to crash than traditional storage methods. This makes working on a DaaS server safer and less prone to complications.
  • Improved financial reporting: Data as a Service also improves financial reporting as companies can convert IT costs from investments into operating expenses.
  • Cost efficient: DaaS solutions are more cost effective and allow companies to channel money where it is needed most. Automated maintenance further reduces internal administrative requirements.
  • Insights and improvements: With features like data marketplaces, businesses can buy, sell, and trade data to help new business grow. Each platform offers different insights and optimization methods to improve overall data management.

Who will benefit most from DaaS tools?

Data as a Service is beneficial for any business model that is informed by data.

Whether you're a marketing company focused on improving customer insights or a product-based company with a global sales process, there are many ways to take advantage of these exciting cloud-based services.

For example, if a company is regularly tracking, mining, storing, and implementing data information, it can benefit from DaaS.

If the company's success depends on alignment with customer needs and product offerings, data services can provide important insights to improve that alignment.

Companies with remote teams can benefit from DaaS tools as they allow easy access to data from anywhere in the world.

DaaS also minimizes the need for internal data management. This is a good strategy for companies that want to redirect resources to other departments.

In addition, companies that want access to data-driven analyzes to improve internal processes or to improve customer relationships can also benefit from this service.

Data collected by RocketSource has shown that one of the greatest benefits of DaaS is improving the customer experience. This is due to the ability of these platforms to simplify data management both internally and externally.

DaaS tools make it easier for companies to understand and optimize decisions and campaigns. Overall, this can lead to customized experiences for customers.

Benefits of using data as a service diagram

Using DaaS Tools in Your Marketing Analysis

With data as a service tools, companies can segment unique data sets generated from big data. This information can be gathered from six specific categories:

  1. Web mining: Data compiled through the dismantling of the open internet
  2. Search information: Data compiled from browser activity and intentional behavior
  3. social media: Data compiled from shares, comments, check-ins, and other actions taken on social media
  4. Crowdsourcing: Data collected from the public through surveys, polls, forums, etc.
  5. Transaction: Data generated from financial, logistical, and other such business practices, including withdrawals, deposits, insurance claims, flight reservations, and more
  6. Cell phone, mobile phone: Data compiled from apps and services that work in the background of cell phones

The ability to collect, analyze, and store all of this custom data is a huge benefit for marketers and allows for more coherent and clearer market research.

Here are some ways you can use this data to improve your marketing tactics:

Benchmarking reports

DaaS makes it easy to compare your performance with the competition. With easy, global access to organizational data, marketers can run benchmarking reports to collect data on finance, sales, and leadership efforts, and back up everything with percentile losses. Workday is a data provider that offers exceptional benchmarking tools.

Business intelligence sharing

Data as a Service tools make it easy to standardize data by merging data sources and analytics with unique data visualizations. Companies can then offer this data to internal users to simplify business intelligence processes.

Access to data marketplaces

DaaS tools allow businesses to access data marketplaces where users can buy and sell various data sets from multiple sources. This data can then be reused and monetized for future business growth.

Consumer research

Many data-as-a-service platforms offer customer information and research options. These insights can facilitate in-house research for marketing teams and provide refined solutions to improve customer relationships.

How to choose the right DaaS tool for you

Setting up data as a service is relatively straightforward as most of the setup and prep work is done through the service rather than on-site.

Most DaaS providers offer technical support solutions that simplify this management from the business side.

How to choose a DaaS tool

Be aware of your business needs. Depending on your size, your growth goals and your team, you may need different functions in data as a service tool.

When selecting data as a service tool, the following points must be taken into account:

  • price
  • Scalability
  • reliability
  • flexibility
  • Infrastructure integrations
  • Team access requirements
  • existing workflows and needs

Once you've established these points, it's time to choose data as a service tool and register your company.

7 Great Data as Service Tools

1. Snowflake

Snowflake offers data engineering, data lakes, data applications, data warehouses and data exchange. Some of their biggest value propositions include unlimited scalability, seamless cloud access, and near-zero maintenance. Snowflake is a good choice for large international companies that require scalability and high security features.

Snowflake data as a service tool

2. SAP HANA Cloud

SAP HANA Cloud is the cloud-based data basis for the SAP Business Technology Platform. It integrates data from the entire company system and creates live data solutions. This DaaS platform offers low hybrid operating costs and high processing power through hybrid multimodal transactions. Real-time analytical processing enables fast, data-supported decisions. SAP HANA is best suited for companies that are already working in the AP Business Technology Platform.

SAP Hana data as a service program on the computer screen

3. Oracle

Oracle is the world's leading multi-model converged database management system. It offers NoSQL and MySQL databases, simplifies access to leisure databases and reduces internal administrative overhead. Oracle offers its customers performance, scalability and availability at a high level. This DaaS tool is ideal for companies looking for a practical approach to data management.

Oracle database data as a service

4. Kantar market place

Kantar Marketplace is a data-as-a-service platform that offers marketers and agencies insights into market research. Their platform includes insights into ad testing and development, consumer and retail trends, product development, media planning and effectiveness, and offers custom survey options.

Kantar data as a service platform

5. D&B M-DaaS

The dun & bradstreet M-DaaS: Master data as a service platform enables companies to seamlessly integrate master data into native workflows. Ready-made commercial content is delivered through a consistent and reliable platform so brands can improve their master data management programs. This tool is a good choice for large or older organizations with complex, large amounts of data that need to be managed.

d & b data cloud data as a service

6. Refinitive

Refinitiv is a data-as-a-service platform that provides risk information data for financial institutions. They provide a centralized view of a company's legal entity, supplier, or issuer so that company relationships and risks can be easily identified and managed. Legal compliance and requirements are the backbone of this service. Refinitiv is an excellent choice for companies with high compliance requirements and various corporate partnerships.

refinitive logo data as a service

7. Dynata

Dynata is the world's largest first-party data and insights platform, reaching over 62 million consumers and business professionals worldwide. Their service provides real-time feedback loops so marketers can understand what is working and what is not. Dynata strives to maximize ROI at every stage of a continuous optimization campaign.

Use of DaaS tools in your marketing analysis

  1. In your competitors' benchmarking reports:

    You can use DaaS tools to collect benchmarking data based on competitors.

  2. In your business intelligence release:

    The DaaS tools allow you to get images of your brand's performance across data points.

  3. On data markets:

    DaaS tools buy and sell audience data from multiple marketplaces.

  4. In consumer research:

    DaaS tools provide customers with insights.

Conclusion

Data as a service platforms enable coherent and accurate data management that can be accessed anytime, anywhere.

DaaS can also reduce some internal management and IT requirements, allowing companies to shift budgets towards more profitable markets and employees to focus on the bigger picture.

In-house platform information from DaaS platforms can be beneficial to marketers looking to improve consumer research and optimize existing data sets.

Through improved data visualization, storage, access, and insights into consumer data, Data as a Service provides growth and usability for partners and affiliates.

Once you have a DaaS system in place, you can take advantage of the data and invest in your marketing strategy. Let us know if we can help you reach your audience!

What is it about data as a service that attracts you?

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