It’s a concept that has grown a lot over the past 20 to 40 years as technology has developed. But if you’re like me you may not know what it really means.
The cloud refers to how and where data is stored and where not. It enables software and services to run on the Internet instead of just locally on one device, as the data is stored remotely on different servers.
With this technology, companies have started to store data online and modernize their infrastructure, data management, storage and analysis.
While data management, analytics, and integration can sound like intimidating topics (especially to those of us who aren’t maths), they are so important to analyzing, strategizing, and increasing the reliability of data for your marketing efforts.
In this post, let’s take a look at what Data as a Service (DaaS) means, and let’s take a look at some DaaS companies to better understand them.
What is data as a service (DaaS)?
Data as a Service (DaaS) is a data management strategy used to store data and analysis. DaaS companies are organizations that offer their customers a service around data – ie data management, data storage and analysis are the main selling points of the software.
DaaS companies focus on helping customers use their data strategically and efficiently. In addition, they help customers save their data and have impeccable search capabilities to make data reports easier.
As we get more data and insights into what works and what doesn’t, data-driven decision-making is becoming increasingly popular among businesses.
DaaS is similar to Software as a Service (SaaS), which is companies that offer software online and through the cloud instead of having to download or install a program. There is also IaaS (Infrastructure as a Service) and PaaS (Platform as a Service).
Every “as a service” company uses the cloud to manage business resources. And while SaaS is a popular term that many people know, not that many people are familiar with DaaS. This is partly because as the cloud evolves, data becomes more and more advanced, with more storage capabilities and better analytics.
DaaS company pricing is typically based on the amount of data storage a company plans to purchase. The data is measured according to the megabyte model.
When companies have a surplus of data and are unsure how to manage it, DaaS is a popular solution. By using DaaS software, companies can save and manage their data instantly and have more flexibility when it comes to scaling.
By now you may be wondering “What are the benefits of using a DaaS platform?”
Well, one of the main benefits of using a DaaS platform rather than physically storing data on-site is automated maintenance. The DaaS provider automatically manages the data and keeps the tools and services up to date.
In addition, DaaS is cheaper and leads to more agile decisions and faster innovations. Because data will be the center of business and will be used for strategic decisions and data management.
With a data-driven culture, a company will be able to innovate and grow at high rates as its ideas and initiatives are based on trustworthy data.
For example, a company can use a cloud-based DaaS solution to manage compliance and scaling requirements, making operations easier to adapt to fluctuating requirements.
So how does that look in action? And what are some examples of a DaaS company? Let’s dive in below.
Data as a Service (DaaS) companies
Snowflake is a DaaS company that provides functions for data warehousing, data lake, data sharing and data exchange. This was one of the first modern DaaS companies to offer data-as-a-service products. With this platform, your company can store and analyze both structured and semi-structured data for business insights.
2. SAP Hana
SAP Hana is a powerful in-memory database that offers advanced analyzes for multi-model data on-site and in the cloud. With this platform, you can create data solutions with modern architectures and generate business-ready insights in real time.
3. Oracle DaaS
Oracle DaaS is a subscription-based marketing intelligence platform leveraging the acquisitions of Datalogix and BlueKai by Oracle. Oracle DaaS for Marketing provides anonymous, multi-channel data for marketers and Oracle DaaS for Social provides social and corporate data.
As technology continues to evolve, managing, storing, and analyzing data becomes more and more important. And while it may seem confusing, DaaS companies can simplify this process and make it easier to understand.