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Finding The Forest In The Trees: Using Insights As A Service To Unlock The Real Power Of Data

Jul 14, 2023 - forbes.com
The article discusses the emerging trend of "insights as a service" in business intelligence. This model allows companies to outsource their data collection and analytics projects to professionals who can translate the insights into meaningful information. The service can include design experience, data sourcing, data classifying, predictive modeling and visualization, and data analysis. The benefits of this service include lower costs, scalability, and improved decision-making.

The article also provides use cases for insights as a service in various sectors such as financial services, aerospace and defense, marketing, and civic planning. It suggests that organizations considering this service should assess their data needs, analytics resources, and strategic goals. It also emphasizes the importance of data privacy and industry expertise when selecting a service provider.

Key takeaways:

  • Insights as a service is emerging as the next big wave in business intelligence, enabling companies to outsource their specific data collection and analytics projects to professionals.
  • Key benefits of insights as a service include lower costs, scalability, and improved decision making.
  • Insights as a service is being used in various sectors including financial services, aerospace and defense, marketing, and civic planning.
  • Before utilizing insights as a service, companies should assess their data needs, analytics resources, and have a clear goal they want to achieve through the service.
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