Big Data as a Service - What is it? Examples, Benefits

Big Data as a Service (BDaaS) is the biggest change in how organizations deal with data. With the help of third-party data management and analysis services, organizations can apply great tools and resources that are often affordable and not as complex as traditional big data solutions. With this model, organizations can effectively run their operations, gain a competitive edge, and make the most of their data analysis.

What is Big Data as a Service?

Big data as a service is a cloud-based solution (for example a platform) that allows companies to handle, group and analyze big amounts of data. However, BDaaS provides a full range of services, from data storage and processing to data analysis, and all of them running on the cloud. Big data as a service is useful for companies that have to deal with big data and most likely do not have sufficient internal staff or skills. It allows them to take any data-related action they need for business purposes. 

At its core, BDaaS includes three key components:  

1. Data Storage: This means robust and safe cloud storage systems that can accommodate huge volumes of data and all forms of structured and unstructured data. 
2. Data Processing: Data pre-processing tools are efficient enough to handle big data for analysis.
3. Data Analytics: Sophisticated analytical tools involving data analysis and visualization services to aid in organizational decision-making. 

What Are The Benefits of Big Data as a Service?

1. Cost Efficiency
   Big data as a service has many benefits, including the ability to reduce costs in the future. This means that instead of spending a lot of capital in setting up such systems and hiring skilled people, a business can opt for BDaaS services by simply paying for use. This pay-as-you-go model is specifically advantageous for embracing big data processing without necessarily making huge investments.
2. Scalability
   Big data as a service provides more flexibility than any other business data management service since the client’s data can expand to meet the company’s or shrink back if they want to reduce their investment in this line. Any business entity being dynamic will reflect its big nature in terms of the data it generates. BDaaS can help an organization build and manage data storage and processing based on the demand. This flexibility is important in enabling businesses to manage the data effectively, irrespective of the size of the business or the amount of data involved. 
3. Accessibility and Flexibility
   The most appealing aspect of big data as a service is that the data and analytics can be accessed at any time from any location. This is especially important to organizations with a multi-location workforce or those operating in different parts of the world. The possibility to perform the analysis of the data in real-time has the potential to improve a company’s adaptability. 
4. Expertise on Demand
   Big data as a service providers help businesses to get exceptional data analytics and data science, machine learning, and other great features that the company will not have to pay for hiring an expert. This could lead to, in the end, coming up with more accurate decisions and hence enhanced decision-making. 
5. Enhanced Decision-Making
   BDaaS supports the analytics tools as well as the real-time data computation that is used in making data decisions within businesses. It is possible to have better decision-making in faster markets and hence the companies gain a competitive advantage. 

INFOBELPRO Enhancing BDaaS with Specialized Business Data

Infobel Pro is aimed at providing business data solutions that can be easily integrated with BDaaS solutions. When Infobel Pro’s specific data are integrated with BDaaS’s diverse potential, organizational domains will be able to comprehend their markets, competitors, and clients in even greater detail. Here’s how: 

1. Market Analysis
   Through the particulars of the data provided by Infobel Pro, companies can better segment their markets. By combining it with BDaaS analytics, the business can uncover industry-specific patterns. For instance, a retailer that uses BDaaS in sales data analysis can augment the data set using Infobel Pro, which contains the competitor’s outlet location and customer profile. 
2. Customer Profiling
   For any type of business, it is quite important to understand the behavior of the customers. To sum up, it is finally possible to conclude that Infobel Pro offers enriched customer data for Belgian market, such as contact information and demographic, and enriched business data for those who target companies (B2B). When integrated with BDaaS analytics, it helps the business to get more refined prospects data that results in higher conversion rates and customer loyalty. 
3. Competitive Intelligence
   Infobel Pro business information is helpful in a way of monitoring the activities of the competitors the organization has and comparing its performance with that of other businesses. Absorbing this data with BDaaS can help businesses understand their position in the industry, and how they can counter their rivals. 
4. Lead Generation
   For companies that are growth-oriented, integration of Infobel Pro’s business data with BDaaS can help in the process of generating leads. It helps businesses to find potential leads, sort them out, and develop targeted campaigns that will compel individuals to convert.

Big Data as a Service Examples

1. Snowflake
   Big data as a service BDaaS is well explained by Snowflake, which is a cloud-based data warehousing solution. This one helps businesses to process large volumes of data through the platform’s scalable storage and compute resources. It is a flexible tool and its performance has been appreciated by many companies with different specialization. 
2. Google BigQuery
   Google BigQuery is an analytic data warehouse that helps companies execute large-scale, complex SQL queries on large volumes of data. The fact that it can work in conjunction with other Google Cloud solutions, as well as the company’s pay-as-you-go approach to pricing makes it affordable for companies that wish to take advantage of the possibilities that big data presents but are unable to spend a lot of money in the initial phase of implementation. 
3. Amazon Web Services (AWS)
   BDaaS is a major service that AWS provides encompassing capabilities in data lakes, data warehousing, and analytics services. AWS offers a wide portfolio in solving more demanding data-related challenges that have put it in a strategic position in the big data as a service market. 
4. Microsoft Azure
   Microsoft Azure is another key actor in the big data as a service market which offers numerous big data services ranging from data storage and management to machine learning and artificial intelligence analytics. Another advantage of Azure is that it works well with Microsoft’s array of tools and should therefore be suited well for companies already using Microsoft tools. 

Conclusion

Big data as a service is revolutionizing companies to deal with their data as it provides cost-efficient, open, and manageable solutions for organizations that want to harness Big Data without the need to implement large amounts of resources internally. However, if organizations are to fully leverage BDaaS, it should be complemented with other business data services, such as the one provided by Infobel Pro. 

With Infobel Pro’s customized information, businesses can accomplish extra internal analysis, top-choice decision-making, and competitive advantage over other players, thanks to the launch of BDaaS. Specifically, the blended use of BDaaS and specialized data can lead to increased levels of business development and growth through improved market insight, customer identification, competitive analysis, or lead generation. 

If you want your data strategy further, discover how Infobel Pro’s business data services can enhance BDaaS projects. Get in touch with us today and we will provide you with all information regarding our data solutions and software.