Big data analytics is the process of capturing, storing and analysing large amount of information (data). This information could be structure or unstructured but definitely is an important asset for companies. Businesses need to be able to decode the key insights in order to draw conclusions about this information they contain. Managing the overall process here and coming up with a result which can be used for future is called the BIG DATA Analytics.
Presently outsourcing big data analytics assist companies to take privilege of the latest discovery of analytical solutions and eventually make more accurate data-driven decisions. This would be no surprise to know that largest and some of the most successful companies presently such as T-Mobile, Starbucks, Capital One & Walmart depend upon big data analytics. Big survey organizations and detailed information has revealed that more than 76% of companies are planning to invest in big data analytics in the next two years.
The requirement for big data experts would be high since it allows companies to make smarter business decisions, increase in productivity of operations, and earning of higher profits. Recently, various companies have started extending their team with professionals such as big data developers and analysts to pursue the international digital modification boom. Successively this has increased the interest for the outsourcing of this expertise to bridge over the labour market’s skill gap. These are 5 essential points to be looked after before outsourcing big data analytics:
Preparation of a strategy sheet before executing the outsourcing
It is a business-driven process which requires right infrastructure and execution which can lead to a powerful impact on customer engagement and business productivity. This involves the design and planning analytical initiatives and discussion of future plans to be implemented before the beginning of the outsourcing. The company may also involve external consultants to develop a strategy and build some foundational analytics processes. In such situations, you must know how everything is done with other applications and which tactics and methods are being used. So to have your own big data analytical strategy is important even if you are planning to outsource.
Considering Big Data experts with domain professionals
Recently, all the sectors as insurance, banking, logistics, digital media, retail, ecommerce, hospitality are all utilizing big data analytics. Experts in big data analysts have an efficiency of the business and the domain they work on. Outsourcing help you discover the specialists who have built a strong domain expertise while performing with customers from different industries.
Invest into extensive Big Data analytical tools
In companies where day-to-day decisions are taken on the basis of data, the big data analysts require proper tools to extract maximum resources from the collected information. Scalable big data tools provide the most appropriate framework for data analysis, discovering patterns and suggesting analytical models. In such cases, big data analysts may discover and react to the selected patterns, and thereby enhancing the performance of business operations by integrating analytical tools with the corresponding productivity applications.
Selecting big data specialists with strong tech skills
Outsourcing big data analytics can develop value for your business by providing your operation access to the big data analysts. In order to achieve major big data analytical achievements, the company should look for specialists with a strong analytical skills and expertise. These experts must have the fundamental mathematical knowledge for getting into several models as well as having a technical background. Moreover, having such strong experience in open source big data technologies such as Hive, kinesis, Pig, Hadoop, Spark, Kafka, etc. is essential for providing important insights to help you convert your data into a fruitful action.
Following strict security measures when outsourcing Big Data analytics
Data is a big asset of a company and its security and protection is of utmost importance. Establishing strong legal agreements between your organization and your partner big data analytics team for securing your data and following with all privacy laws and regulations is important for any organization. Privacy must be one of the important consideration in terms of providing access to sign particulate amount of data which includes information about internal business decisions, actions, processes and customers. So before entering into an outsourcing action, it’s better to understand what processes your partner is using to secure your crucial data.
All in all, more and more organizations are taking benefit of big data analytics as it helps them in searching valuable insights to beat their competitors and reduce costing. Outsourcing big data analytics assists organizations to leverage their data to discover better opportunities and opt for required changes in their markets. Also, it allows them in accessing a huge talent set of skilled big data analysts. Ultimately, they are able to extend their business processes and their software products better thus earning the competitive market on a highly unpredictable international market.