Data Analytics Outsourcing: A Smart Option to Improve Competitive Positioning

Data analytics is the science of using qualitative and quantitative techniques to examine raw data. It is helpful for organizations to make better business decisions by drawing conclusions from raw data. Data analytics also help them to gain insights about their business operations, increase customer satisfaction, and capital management. Most of the organizations have inexperienced in-house workforce or they do not employ experts as it increases their financial expenditure. So, data analytics outsourcing is a cost effective solution and it also provides flexibility for time sensitive projects.

Benefits of data analytics outsourcing:

•    Right infrastructure and time-driven delivery of solutions

Many organizations lack the right infrastructure needed to perform data analytics along with workforce with right skillset. Outsourcing firms are analyzing a huge amount of data by combining analytical technologies and tools to deliver insights on time. Those firms have necessary infrastructure from innovation and employ experts who uses updated tools deliver solutions on time-driven basis. It helps organizations to focus on their daily business activities. 

•    Validation from third-party is good for business

Outsourcing service providers can provide a different viewpoint on business that would help in making better decisions. It enables organizations to look at information from different angle. Outsourcing data analytics could provide an innovative solution that might have been possible by in-house experts.

•    Outsourcing service providers offer both horizontal and vertical solutions

Experts employed by data outsourcing service providers use combination variety of tools, techniques, technologies, and specific expertise to offer solutions for complex dataset. An outsourcing partner can deliver solution on data management, insights, reporting, modeling, and implementation & developing business rules. As its their core business, they are able to provide solution by taking different angles into consideration. In turn, it would benefit organizations to make better decisions.

WNS acquired Value Edge Research:

Recently, WNS bought a data analytics outsourcing firm, Value Edge Research for $17.5 million. Value Edge, an India based firm, was founded in 2009 by Rohit Anand. It provides support and analytics outsourcing solutions to bio-pharma companies across the globe. Other services provided by the firm include, market assessments, business intelligence, competitive intelligence analysis, and social media insights. Value Edge also provides patient data analysis, pricing analytics, and key account management services to bio-pharma market players.

Rohit Anand. Founder and MD of Value Edge Research said, “Value Edge is excited to partner with WNS, and the combination of our firms' respective capabilities will enable us to help clients in the pharma/bio-pharma industry improve their competitive positioning. We believe WNS' global size and strength will allow us to tap new areas of demand, drive deeper relationships and expand our offerings.”

Analysts studying the market have revealed a thorough information about changing market dynamics. Allied Market Research has published a report titled, “World Data Analytics Outsourcing Market - Opportunities and Forecasts, 2014 - 2020.” As per the report, the world data analytics outsourcing market is expected to register a CAGR of 29.1% from 2015 to 2020 and estimated to reach $5.9 billion by 2020. The report provides an extensive analysis of drivers & opportunities, competitive intelligence, and dominant segments. Furthermore, the study offers SWOT analysis of key market players, value chain analysis, and estimations from 2015 to 2020 for each segment of the industry.

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