Enterprises turn to outsourcings as data analytics market booms

The world data analytics outsourcing market is expected to reach $US5.9 billion by 2020, registering a CAGR of 29.1 percent during 2015 to 2020.

“Over the years, there has been an exponential increase in the data generated by enterprises,” says Gunjan Malani, Research Analyst, Allied Market Research.

“This data is now being outsourced to data analytics service providers enabling the enterprises to make effective insights-driven business decisions, offer enhanced services to customers, and avoid risks and losses.

“Most of the enterprises do not have in-house analytics capabilities or skilled workforce, thereby accelerating the growth of data analytics outsourcing market.”

Allied Market Research findings suggest that organisations are increasingly turning towards data analytics outsourcing due to its “numerous benefits” such as strategic decision making, operational efficiency, reduced operational costs, and enhanced customer service among others.

Read More: http://www.reseller.co.nz/article/593765/enterprises-turn-outsourcings-data-analytics-market-booms/

Data analytics outsourcing to grow

The market for data analytics outsourcing is set to grow to $5.9bn by 2020, according to a report from Allied Market Research.

According to the report, entitled “World Data Analytics Outsourcing – Market Opportunities and Forecasts, 2014-2020”, the market’s CAGR will be 5.9% per annum.

The reason is that enterprises are generating more and more data and the Big Data market is growing as a result. Mobile devices are fueling this data explosion further as individuals put comments and data out into the world from wherever they are. Unfortunately – unless you’re one of the specialists selling services – the tools to make this data into something useful are not easy to master and are often unavailable in house.

So outsourcing is the answer for many enterprises wanting to take full advantage of strategic decision making and of course reduced costs as a result.

The report also notes a shift from descriptive analytics to more advanced models such as predictive analytics.

For more details: http://www.professionaloutsourcingmagazine.net/newsitems/data-analytics-outsourcing-to-grow

How data analytics could reshape NSW

Establishing New South Wales’ Data Analytics Centre and creating a regime where government entities are compelled to hand over data to it could rank as Victor Dominello’s single biggest achievement in public life, the NSW minister for innovation and better regulation told a conference today.

Addressing the Gartner Business Intelligence, Analytics & Information Management Summit in Sydney, the minister said that the DAC, established last year, had the potential to deliver better outcomes for NSW communities in areas ranging from fighting childhood obesity to efficient use of public safety resources.

“Governments that don’t have data, governments that don’t have information, make decisions in the dark – and that’s not good for any of us,” Dominello said.