The ongoing developments and technological shifts in the data analytics marketplace have made it crucial for businesses to analyze various factors before engaging with companies that offer advanced data analytics solutions. Despite the ongoing advancements, challenges continue to proliferate with the growing data sets making data analysis and data visualization an uphill task. Part of this challenge may be attributed to the impressive power of data analytics solutions and technological developments. However, the impact of data analytics solutions is so powerful that companies today focus on investing in analytics by collaborating with the top data analytics solution providers.
Investing in analytics tools without possessing the basic capabilities is like building a house without a solid foundation, though you possess the materials you cannot put them to good use. Our analytics experts have listed the top five criteria that will help you choose the right data analytics solutions provider.
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#1 Data Security
Data irrespective of its source must be stored securely on-premises or in the cloud to avoid cyber-attacks and data breaches. Time stamping and source-proofing data generated from the web and mobile sessions will help retain its authenticity and integrity. Businesses that offer data analytics solutions to devise data management systems with enhanced security layers can help you store and maintain data securely by avoiding tampering and data breaches.
#2 Universal Accessibility
Ease of use and accessibility is another key factor to be considering while engaging with companies that offer data analytics solutions. Ideally, data analytics solutions must allow fast and easy setup and grant access to all the departments of a company that use data to make crucial business decisions. A complex data management platform will make it challenging for members of other departments to access data sets and draw insights. Data analytics solution providers that offer data management platforms that are easy to use and interpret will empower companies to analyze data to reap maximum benefits.
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#3 PII Accessibility
PII stands for personally identifiable information that empowers companies to identify the users it relates to. With stringent data protection regulations coming into effect, businesses have to ensure they adhere to the rules listed under the General Data Protection Regulation act. While companies will still have access to the data extracted from each session, putting control of the data into the hands of the data analytics solutions provider will help them tackle challenges associated with data management.
#4 Data Compression
With the proliferation of data sets, businesses now have access to huge volumes of valuable information that must be stored and maintained on-premise to ensure it’s accessible as well as secure. In such a scenario, it’s crucial to select data analytics solutions that can help you cost-effectively maintain such data sets. This way you will be investing less in the technology needed to compress and store data. Data analytics solutions that leverage data compression techniques to compress data can help you shrink the original data footprint to as little as 5%, resulting in a huge reduction in TCO.
#5 Insight Automation
The use of traditional BI tools to analyze the massive troves of datasets generated by today’s digital businesses requires a lot of time and expertise. Data analytics solutions that leverage advanced analytics and machine learning techniques to mine such data sets will be able to isolate issues in real-time to support your agile business processes. This signifies that data analytics solutions providers who adopt advanced analytics tools and cognitive technologies can detect anomalies in your current data management system in a way that adapts to changes efficiently and effectively.
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Today, there are innumerable companies that offer advanced data analytics solutions and making big claims about the difference they can make to your business. However, it’s crucial to note that no two data analytics solutions would possess the same expertise and skill when it comes to addressing challenges in real-time. Which is why companies must dig deeper and analyze their ability to add value to your business. A data analytics solution provider should be capable of helping you define the overall solution architecture as well as the process flow to address your business challenges. So, regardless of who you collaborate with, it’s essential to first define your needs and design a robust foundation early in the journey.