Data as a Service offers a range of capabilities, such as real-time data insights, collating data from multiple business units, creating customer profiles among others. The DaaS is currently being adopted only by large enterprises to enable effective data management solutions. Also, the increasing adoption of hybrid cloud is expected to push the demand for DaaS among medium-sized enterprise consumers.
The ongoing innovation happening around hybrid cloud ecosystem is pushing the demand for analytics and machine learning, mainly to eliminate the time-intense data processing. On a multi-cloud environment, DaaS offers a holistic approach to identify the key business challenges in real-time, which is a potential information pool to build an enterprise AI. DaaS collects, manages and maintains the information in an easy to use manner for an AI, then AI applies algorithms in bringing insights such as consumer trends, purchasing patterns, among others. Further the process will continuously be repeated as AI is a self-learning platform.
What can a DaaS enable AI offer?
- Real-time information at business unit level for CIOs, directors, and business unit heads
- Finding new consumer patterns with targeted customer profiling for sales and marketing personnel
- Quick identification and addressing product defects for manufacturing enterprises
- Deep learning on existing enterprise data, to derive competitive advantage for an enterprise
Going forward, the AI enabled DaaS would lead to new business models, such as ‘insights-as-a-service’ which can be accomplished by enhancing existing deep learning capabilities of AI apps.
According to Infoholic Research, the “Global Data as a Service” market is expected to grow at a CAGR of 13.8% during the forecast period 2017–2023.
The study offers a comprehensive analysis of the “Global Data as a Service” market bringing out the most prominent and relevant insights of the industry, the report aims to provide an opportunity for the players in this domain to understand the latest trends, current market scenario, government initiatives, industries, and technologies related to the market. In addition, it will help the venture capitalists in understanding the companies better and take informed decisions.