For many organizations, the cost of building out—or expanding—analytics capabilities can outweigh the benefits of the analytics itself.
Data architects, data modelers, one or more database administrators, data engineers, analytics developers—the sheer number of roles involved can be daunting from a hiring standpoint, let alone a budget one.
This doesn’t mean going the DIY route with analytics is a bad thing, just that, for a growing number of businesses and organizations, working with a seasoned partner for managed analytics is the preferred approach due to its inherent flexibility and lower cost compared to building out the capabilities internally.
What is managed analytics?
Designed to help enterprises build out their analytics capabilities—not just at the data science level but throughout their entire operations—managed analytics is an array of practices that can quickly be adapted to an organization’s unique needs.
These practices can include:
- Traditional business intelligence reports
- Advanced analytics model development for artificial intelligence (AI) and machine learning (ML)
- Voice analysis to improve the customer experience
- Sophisticated models to gauge brand sentiment on social media
At Redapt, the focus of our managed analytics is on improving business performance across the board. Depending on where your customer is currently at, this can mean helping to create predictive models—AI models, bots, lead scoring, and so on. It can also mean delivering the foundation for those same services, such as an enterprise data warehouse or adding story points to databases.
Regardless of an organization’s ultimate needs, the goal of our managed analytics is to bolster their analytics capabilities in a way that allows them to fully leverage data to make decisions without taking a major financial risk.
Benefits of managed analytics
In many ways, managed analytics is similar to SaaS. Instead of making a bulk investment up front, enterprises are able to develop a lasting relationship with their managed analytics partner that guides the direction of all of their analytics initiatives.
One major benefit of this ongoing relationship is agility. Unlike more traditional projects, where there is a definite beginning and end, analytics is an evolving process.
By working with an ongoing partner, companies don’t have to have repeated discussions about changes in direction—and the ensuing negotiations, paperwork, etc.—and are free to change the direction of their analytics priorities on the fly.
Additionally, managed analytics services—at least at Redapt—are month-to-month to keep the service low-risk for companies. As a result, enterprises have access to part-time highly- skilled analytics resources that would be difficult or expensive to obtain on the open market, particularly for smaller businesses and startups.
The month-to-month design also makes it easier for smaller companies to shift their analytics thinking as they grow. Because the company is not locked in, they can either continue to engage with their managed analytics partner or take the foundation that’s been built and grow their own capabilities internally from there.
Getting started with managed analytics
Whether your organization is just starting to kick the tires on analytics or you already have a foundation in place but are looking to expand, partnering with a managed analytics provider can be the perfect solution.
To learn more about Redapt’s Managed Analytics services, contact one of our experts today.
