Digital transformation touches all areas of business, including product innovation, operations, go-to-market strategy, customer service, marketing and finance. However, digitization is not only about the acceleration of business processes and leveraging new opportunities. It is also about the need to outpace digital disruption and solidify one’s position in a rapidly evolving business environment. To identify which areas need to be transformed and how, to eliminate the possible risks and avoid the unnecessary drain on resources, modern organizations adopt the data-driven approach to digital transformation. They use data science, big data, machine learning, BI to collect, process, and analyze their business data, which they can then turn into actionable insights.
Latest surveys indicate that data connectivity and integration are considered as critical components for digital transformation by most businesses. No wonder why the demand for data science services is growing at the speed of light. The number of job postings for data scientists is growing by57%year-over-year. Relatedsearch queriesfor ‘data science’ have increased six times over the past five years. However, a lot of companies that want to unlock the power of their data lack the necessary expertise or resources. In this case, data science as a service can play a crucial role in helping to digitally transform your business and increase ROI.
We provide data science services on a wide range of projects in different industries, and we’ve seen its transformative effect many times. In this article, we share some of the insights we’ve gained and the tangible benefits DSaaS brought to our clients.
Since digital transformation is a complex process, data about your customers and business operations can help you make informed decisions while preventing unnecessary risks. With data science capabilities, you may identify how to digitally transform your business and which business areas require transformation. At the same time, data science as a service allows companies to hire a professional provider that has the necessary resources and can help you implement this transformation faster keeping you ahead of the competition.
No wonder why more and more organizations are embracing data science as a service to access a huge pool of data experts to enhance their decision making.A research from MIT’s Sloan School of Business indicates that companies that are engaged in data-driven decision making experience a5 to 6%increase in output and productivity. Thus they are able to generate an impact in their digital strategy and operations, whether it is in a form of increased revenue, reduced costs, or improved efficiencies. With DSaaS, customer intelligence is now as optimized and accessible at all levels of the organization as possible. So embedding and ingraining data science as a service into decision-making processes is essential to obtain the desired results and benefits from digital technologies.Â
The volume of available information is growing rapidly along with opportunities it opens up. Data science as a service enables organizations to cope with a shortage of data scientists and leverage data science for a more panoramic and more detailed view of their business environment.
