Factors Influencing The Selection Of A Good Data Analytics Service
Every company generates huge amounts of data but rarely is it put to good use. All data generated does not always contain useful information. Hence, data generated needs to be sorted, structured and the information contained therein, presented in a form that benefits the company. However, it is not an easy job and a company needs the services of a digital analytics company to ensure the same.
The emergence of
data analytics service providers, like Neuronimbus,
has been meteoric. While most claim to be proficient in data analytics,
companies should not choose them on hearsay. The idea is to team up with the
best available data analytics provider.
But before
understanding the factors that govern this collaboration, businesses should
know the meaning of data analytics. This will further help them to choose from
the plethora of data analytics providers available online.
What is data analytics?
Data analytics is
a practice adopted by many companies to make sense of the data generated during
the successful execution of business processes. Analysing this data helps
companies gain an insight into:
- Ways to optimise business processes
- Improve operational efficiency of the business
- Understand their customers better
- Provide tailor-made products and services
- Adopt trends to create a competitive advantage etc
How to choose a data analytics company?
The fundamentals
of choosing a good data analytics
service provider can be summarised into three basic factors. Benefit
maximisation can only happen when these factors are taken into account and
implemented to make the right choice of the service provider. These factors
include:
- Identifying the company
requirements: Before initiating the actual process of selection,
companies need to define their expectations. Knowing how to benefit from
the services offered by the data analytics providers will enable companies
to finalise one that will suit their needs. Hence, predefined goals have
to be set so that the services of specific strategic partners can be
availed.
- The capability of the
vendor: Determining the quantum of services required will help companies
judge the capability of the vendor to service the same. Reading customer
reviews specific to the concerned service provider will enable businesses
to seek an answer to certain relevant queries like:
- Experience in the field in general
- Understanding of sector-specific company data analytics
- Commitments were given and their ability to fulfil them
- Effectiveness of their analysis etc
- Vendor involvement: A service
provider can only offer the best of services if they are committed and
involved in their client business. Communication is an important factor to
consider. Establishing channels of communication, the flexibility of the
vendor to suggestions, past precedence of completing the work within time,
ability to meet milestones etc., are some points that show the involvement
of the vendor. The more committed a vendor is, the better is the outcome
since such vendors prioritise client requirements and benefits.
- Team of employees: Data
analytics is a specialised field. This field needs the services of experts
who keep augmenting their skills and undergo enough specialisation to
offer customised solutions to their clients. Two different businesses
might or might not have the same expectations from their service
providers. Hence, the choice of the search data analytics team should be based on the expertise and experience of
the members making up the team.
- Technological
brilliance: Technology is constantly evolving. New and upcoming trends in
Artificial Intelligence, Big Data analysis etc., are set to redefine the
outcome of data analytics. A vendor with a team proficient in the
technological advancements taking place will benefit businesses much more
than one who is yet to adopt a modern approach.
- Appropriateness of
custom solutions: Service providers offer certain established
and readymade models for data analysis to their clients. But this may not
be enough to cater to the growing needs of their client businesses. Hence
companies thinking of availing of their services should understand the:
- The flexibility of these service providers
- Capability in providing custom data analytics solutions
- Security: These
service providers will be privy to a company’s confidential data. This
data can harm the company negatively if it falls in the hands of their
competitors or wrong people. Before making the final choice of the service
provider and signing on the dotted line, businesses need to assess the
level of security measures implemented.
Investing in a
data analytics provider can only generate a good ROI if the selection is
correctly done. Keeping the above-mentioned factors in mind would ensure the
same.
References:
https://www.saviantconsulting.com/blog/choose-right-data-analytics-consulting-company.aspx
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