SaaS (Software-as-a-Service)-based Data Warehousing comprises applications that streamline data management; improving the performance of mission critical systems, and managing the data stored. It provides an online environment from managing information to data collection, analysis, forecast, storage, etc. SaaS-based Data warehousing combines data from multiple sources into a single database, thus, providing homogeneous data, which can be more easily manipulated. The information extracted from this data is analyzed by enterprises to comply with the legal and regulatory mandates. Thus, this web-based service manages information, archives communications and automates data for storage. These services are either a part of enterprise operations or are required to meet specific business related requirement for project, department or division.
Source: SaaS Market
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The enterprises are adopting SaaS-based Data Warehousing to improve operational efficiency, as an alternative to cost cutting measure. These services help in improving customer service levels, rolling out new products, and restructuring operations. This streamlining of business process and increasing focus on profit generating activities improves productivity and increases competitive advantage. Further, SaaS-based Data Warehousing provides a flexible, low-cost business model to enable its customers focus more on their core business, without worrying about support administrative functions. Additionally, this SaaS-based service eliminates the need for time consuming patches and updates in the data warehouse software.
Till recently, the small or medium-sized businesses were regular customers of SaaS-based Data Warehousing, while the big organizations had been reluctant to adopt these services. These big companies were of the opinion that hosted or on-demand applications may not suit the complex business processes of their company, or might not provide competitive differentiation. However, the changing business environment is leading more number of organizations finding opportunities through SaaS deployments, irrespective of the size of their businesses.
The companies that are challenged in their data storage capabilities due to lack of budget for infrastructure and staff can have Data Warehousing capabilities through SaaS-based Data Warehousing. In addition, the companies are looking forward to reduce their business risk and thus, manage cost. The SaaS-based Data Warehousing provides visibility in the operations of business functions, and maintain quality standards. Further, it improves operational efficiencies and enhances customer experiences, leading to increase in revenue opportunities. Besides, new versions of applications or environments can be quickly built through SaaS-based Data Warehousing, which can streamline data and workflow of back-office operations; without need for placing order and waiting for new software installation.
This report by TechNavio Insights highlights the current and future market potential of the Global SaaS-based Data Warehousing market. Further it discusses trends, drivers, growth inhibitors. It also profiles a few major vendors in the market.