If you want to improve your business intelligence (BI) and data analytics, then Microsoft’s dynamic Power BI platform is a viable and flexible option. It lets you generate attractive report visualsI It also helps you make strategic choices based on precise business data analysis.
Now that Microsoft has released updates to SharePoint 2019, you may be wondering which system will offer you the biggest bang for your buck: On-premise SharePoint 2019 vs. SharePoint Online. There are pros and cons to each, so the answer isn’t cut and dried. To find the right system for your business, you’ll have to take a closer look at all of the ways they differ.
What is SharePoint 2019?
SharePoint 2019 is an umbrella term for Microsoft’s latest edition of the web-based platform that helps organizations manage information. There are actually three versions of SharePoint: Online, Server, and a hybrid of the two.
When organizations want to compare the features of SharePoint 2019 vs. SharePoint Online, they’re usually looking for information about how the 2019 edition of SharePoint Server differs from SharePoint Online. This is a common question in industries that collect and organize large amounts of data, such as healthcare facilities and financial service providers. These organizations want to know which tool will help them manage sensitive data effectively while maintaining low overhead.
You may be asking this question now because the SharePoint Server edition changed in 2019. Some of the features that were once only available in SharePoint Online are now offered in the latest Server edition, prompting some organizations to make the switch from Online to Server.
To make this decision, you first need to consider the differences between the on-premises version of SharePoint 2019 vs. SharePoint Online.
What is SharePoint Server and SharePoint Online?
SharePoint Server is installed directly on your existing infrastructure. It’s an on-premise data management tool that requires you to maintain your own servers. There are two editions of this service: Enterprise and Standard. The free edition, called Foundation, was discontinued in 2016 and isn’t supported by the latest SharePoint update.
By comparison, SharePoint Online is an off-premise version of the service that offers many of the same functions and features as the Server edition but doesn’t require you to manage any servers of your own.
In 2018, Microsoft updated the features of SharePoint Online, including improvements to communication sites, cloud searches, and a sleeker user interface (UI) for its dashboards and portals. Later that year, Microsoft also rolled out changes to SharePoint Server with its 2019 edition. For the first time, users could build and access communication sites with the on-premise service. Users also had access to more file and folder sharing options, cloud connectivity (including hybrid systems), and a modern UI.
Although SharePoint Server 2019 and SharePoint Online now share some core functionalities, they’re still radically different tools. To make an apples-to-apples comparison, you should look at the differences between Enterprise SharePoint 2019 vs. SharePoint Online. The Enterprise version of SharePoint 2019 Server is more similar to SharePoint Online than the Standard version because the Enterprise version has more features and cloud search options.
SharePoint 2019 vs. SharePoint Online: The Key Differences
Both SharePoint Server and SharePoint Online have these features in common:
- Template creation options;
- Mobile and cross-browser support;
- Permissions management;
- Document sets and management options;
- Online server access;
- User authorizations and cloud security;
- Design manager tools;
- Content search portals and managed navigation;
- A simple user interface; and more.
With SharePoint, operations become much more efficient overall, saving your organization time and money.
The Cons of Using SharePoint for Healthcare
There are a lot of benefits of SharePoint for healthcare, but it does have a few limitations.
One challenge is that SharePoint offers many different applications and features which can be difficult to navigate for first-time users. Without training, your staff may input data incorrectly or feel overwhelmed by the new system. As a result, your staff may not know where to find the latest patient information, leading to potential health risks and liabilities. Some staff members also find that the system is too time-consuming to use on a daily basis. These issues can be resolved with training and better planning.
Another problem with SharePoint for healthcare is that it’s often difficult to know where to start. It has massive number of features and it isn’t always clear one is appropriate for your organization’s needs. This is why many healthcare facilities hire an IT consulting firm to help them seamlessly migrate to a SharePoint system.
Security is another potential problem with SharePoint for healthcare. The more authorized users you have, the more security vulnerabilities exist within the system. This is especially true if you fail to identify these vulnerabilities or train your staff on security best practices. Security problems may even lead to HIPAA violations down the line.
When you identify the specific features that your organization will use, train your staff on how to use them, and close common security loopholes, your new SharePoint system will run smoothly.
Do You Need Something Besides SharePoint?
SharePoint is a great tool for many organizations in the healthcare industry, but it won’t transform your facilities and operations by itself. Many healthcare companies hire firms that specialize in data storage, user dashboards, and documentation. Working with a third-party firm is superior to using SharePoint alone because:
- Data experts will assess every aspect of your data collection and storage process, ensuring you’re collecting high-quality data and keeping it secure.
- The firm will come up with a custom business strategy, including a new data analysis system that helps you identify areas where you can improve.
- Web platform designers will make custom dashboards for your staff and patients that are intuitive and require no additional training to use.
- You can generate detailed visuals from all of the data you collect to make more accurate business decisions.
- You’ll rest easy knowing that the firm is aware of all current HIPAA regulations and data security best practices. The firm will take all necessary steps to protect sensitive patient information.
However, there are differences between an Enterprise license of SharePoint 2019 vs. SharePoint Online:
Enterprise SharePoint 2019
Distributed cache support
Host-named site collection
Custom site provisioning and definitions
Works out of the box
No (requires some installation)
In general, SharePoint Server can do almost everything that SharePoint Online can do. The main drawback to using SharePoint Online is that administrative and publishing tasks are much more limited.
It’s also important to consider prices.
You can purchase SharePoint Online on its own or bundle it with another Microsoft tool like Office 365. If you buy a standalone license, the service costs between $5 per user per month and $20 per user per month, depending on if you’re buying the basic service or a more extensive package that includes more features.
An Enterprise SharePoint Server license costs approximately $7,000 per server. However, that varies depending on your location and other installation factors. You’ll pay about $100 per user for this service. The cost of keeping the servers running (air conditioning and other infrastructure) is also higher overall.
SharePoint Online is much cheaper than SharePoint Server. Some organizations will find the extra cost of SharePoint Server worthwhile
Choosing Between SharePoint 2019 vs. SharePoint Online
Both the Server and Online editions are robust systems that will help you share and organize your information effectively. If you want to customize the system, then the Server edition is the best option because it offers greater flexibility.
The Server edition is also generally more secure than the Online edition. You have complete control over your data and can implement additional precautions like firewalls to prevent data breaches. However, SharePoint Online is also a very secure system, with the latest cloud security best practices to protect sensitive data.
If you’re on a tight budget, SharePoint Online is the best choice. It’s far less expensive than either the Standard or Enterprise editions of SharePoint Server. It’s also a cost-effective option for small and large enterprises alike. Small businesses can run a lean, agile system at very little cost. Large enterprises won’t have to pay for dozens or even hundreds of individual user licenses for the SharePoint server. The more users you have, the less cost-effective SharePoint Server is overall.
To help you make a final decision, ask an experienced IT services firm for advice on whether to choose on-premise SharePoint 2019 vs. SharePoint online. A team of data scientists and IT experts will explain the strengths and weaknesses of each system for your specific organization and assist you with making this transition without losing any important data.
Alternatively, you can ask the firm whether it supports features that neither of these SharePoint editions have. For example, if you’re simply looking to organize your data more effectively, communicate and collaborate on projects with your peers, and locate your data from a user-friendly dashboard, then an experienced IT services firm can create a custom system that includes all of these features.
A system like this is more customizable than SharePoint Online and may be more cost-effective than SharePoint Server. By exploring all of your options, you’ll find a system that makes data management easy.
Contact Tek Leaders today to learn more about the pros and cons of on-premise SharePoint 2019 vs. SharePoint Online. We’ll offer you advice on how to create the most effective data management system for your company. If you want to hear more about the custom data management systems we offer, you can reach us by email directly.
Shashank Reddy Tummala.
Large data sets are becoming more common in every industry, from banking to healthcare. As more organizations use business intelligence (BI) and data analytics to get ahead, the amount of data they have to collect grows ever larger. It’s not enough to track a few performance metrics anymore. Big data is the new industry standard, and it’s here to stay.
Power BI and Azure Analysis Services are dynamic visualization and modeling tools that can help you generate key insights for your business. But are they the best systems for the job? In this guide, we’ll discuss the pros and cons of using these two systems in tandem, and offer essential tips on choosing the best data analysis tools for your business.
Power BI and Azure Analysis Services
What is Azure Analysis Services?
Azure Analysis Services is a platform as a service (PaaS) offered by Microsoft. You can use it to generate and manage data models in the cloud. At its core, the service provides a semantic layer for your organization: It takes complex sets of data from a server or other storage source and breaks it down into models that are easy for a layperson to understand.
The service works by connecting to a data source, usually the SQL Server, a Microsoft-operated data management system. From here, it creates custom models based on what you would like to test or predict. Microsoft offers three different tiers of Azure Analysis Services that each connect with a different SQL Server and have a different uses for your business:
- Developer tier: This connects with the SQL Server Developer edition. You can use it to develop basic test models. However, you’re limited by low processing power and reduced Query Processing Units (QPUs)—a metric for measuring current compute load capacity. You’re also only alloted three gigabytes of memory.
- Basic tier: This connects with the SQL Server Standard edition. Use it to create robust tabular models, ideal for production-focused data analysis. Within this tier, you can choose between a B1 or B2 service. The first offers 10 Gb of memory and the second offers 20 Gb of memory. Besides the memory limits, it also doesn’t support multiple partitions or perspectives.
- Standard tier: This is used for advanced data modeling, and connects with the SQL Server Enterprise edition. It can handle flexible data models, real time updates, and multiple users. This tier includes six subtiers that vary in cost and complexity. The higher the sub-tier is, the faster the processing power and larger the memory limit. The highest sub-tier, S9, supports 400 Gb of memory.
All of these tiers can also connect with Microsoft’s Power BI, a powerful data visualization tool. To generate the most detailed and user-friendly reports, you should use Power BI and Azure Analysis Services together.
Connecting Power BI to Azure Analysis Services
When you connect Power BI with Azure Analysis Services, you’ll generate engaging visuals from Azure’s complex data models. There are four basic steps to this process:
- Create a new model in the Azure Analysis Services platform;
- Sign into your Power BI desktop account;
- Add the name of your Azure server in the Power BI desktop settings; and
- Start generating new visuals based on the connected Azure Analysis Services model directly from the Power BI desktop app.
The combined services let you generate powerful visuals and share them with others quickly, without showing them the internal structure of the original data model.
Data models generated from Azure Analysis Services are both detailed and easy to understand. However, they’re not as visually-appealing or elegant as Power BI’s custom visuals. Your IT team or managers can use Azure Analysis Services to organize the data and generate accurate models. When you’re ready to share your results with your team or support important business decisions in a meeting with shareholders, you’ll use Power BI to break the model down into visual pieces that are even easier to digest.
Although Power BI and Azure Analysis Services help you find out precisely what your data means, the systems also have a few limitations.
The Cost of Power BI and Azure Analysis Services
The main problem with using both Power BI and Azure Analysis Services is cost. While Power BI can be free, the Pro and Premium versions cost an additional $9.99 per user per month and $4,995 per resource per month, respectively.
As for Azure Analysis Services, pricing is assessed by the hour. Generally, you’ll pay an estimated:
- $96 per month for the Developer tier;
- Between $313 and $627 per month for the Basic tier; and
- Between $591 to $5,920 per month for the Standard tier.
Your precise costs depend on which sub-tier you purchase, how often you use the system, and where you are located.
If you also sign up for a SQL Server license, your monthly costs may increase even more. Developer and Express SQL Servers are both free. However, you can only use them for testing and development. If you want full data intelligence capabilities, including data governance and greater cloud storage security, then you have to buy an Enterprise or Standard SQL Server license.
To do so, you must license the server and buy a separate Client Access License (CAL) for every individual user. The Standard server license costs $931 and each CAL costs $209. Or, you can license processor cores, with a minimum of four cores per server. Just one Enterprise processor core costs $7,128. One Standard core costs $1,859.
It all adds up quickly, particularly if you’re planning on buying Power BI Pro or Premium along with Standard Azure Analysis Services and an Enterprise SQL Server license. While this would give you full control over your data and let you generate powerful insights, it’s not the most cost-effective choice for many businesses.
Should You Use Power BI and Azure Analysis Services?
Using Power BI and Azure Analysis Services is the right choice for businesses that can afford the upper-tier licenses or only need to use the low-cost versions of each tool (e.g. the Developer tier of Azure Analysis Services or Power BI Pro) for just a handful of users. It may be out of the price range for smaller businesses or those that require advanced data analysis and increased data security.
You can get all of the same advanced data analytics by hiring a third-party data analysis provider instead. These data analytics firms provide:
- Data modeling, including support for tabular models and real time updates;
- Detailed and beautiful visualizations that connect to these data models;
- A user-friendly portal from which you can generate models, visuals, and reports;
- Cloud storage and computing from an off-premise server; and
- Reliable data security, including encryption and user authorizations.
All of this comes at a comparably lower cost, depending on the vendor you choose and your organization’s specific needs. You also won’t have to buy core processors or manage any servers yourself.
Another benefit of hiring a third-party firm is that the process is less complicated and time-consuming compared with using Power BI and Azure Analysis Services in tandem. A third-party firm saves you from having to find the right system for your needs. Sifting through the various versions and tiers of Power BI, Azure Analysis Services, and the SQL Server is a challenge for many business owners, especially those without in-depth data science knowledge. Letting specialists do the job means no one needs to learn all of these separate systems or connect them manually.
When you hire a data analytics firm, you simply tell them what you want to learn from your data and their team of data scientists will create the right models, visuals, and dashboards for your needs. They’ll also help you migrate your data storage system to the cloud safely and seamlessly. With their help, you’ll create insightful data models and compelling visuals at the touch of a button.
To create the most accurate data models and visuals, contact Tek Leaders. We provide our clients with all of the tools they need to gain valuable insights from their data, including advanced data analytics tools, predictive modeling, visualizations, reports, data governance, secure storage, and more. If you have more questions about how our services compare with Power BI and Azure Analysis Services, you can reach us by email directly.
Shashank Reddy Tummala.
When a client wants the underlying data from a PowerBI live connection exported into Excel—with filters applied—what do you do? “Extract Underlying Data” in the PowerBI Service doesn’t filter all the data. That’s because there’s a limit to exporting, especially on the live connection, and the data doesn’t have any unique key in the transaction tables.
Here’s what Microsoft has to say about the limitations and considerations for Power BI Desktop and the Power BI service, including Power BI Pro and Premium:
- To export the data from a visual, you need to have Build permission for the underlying dataset.
- The maximum number of rows that Power BI Desktop and Power BI service can export from an import mode report to a .csv file is 30,000.
- The maximum number of rows that the applications can export from an import mode report to an .xlsx file is 150,000.
Export using underlying data won’t work if:
- The data source is an Analysis Services live connection.
- The version is older than 2016.
- The tables in the model don’t have a unique key.
- If an administrator or report designer has disabled this feature.
- If you enable the Show items with no data option for the visualization Power BI is exporting.
When using DirectQuery, the maximum amount of data that Power BI can export is 16 MB uncompressed. An unintended result may be that you export less than the maximum number of rows. This is likely if there are a lot of columns or the data is difficult to compress.
Other factors increase file size and decrease the number of rows Power BI can export.
Now that we know the limitations, let’s look at some scenarios in which we’ve encountered it.
Power BI Export to Excel Not Working: Four Scenarios and Solutions
Every solution depends on multiple factors, such as visuals, columns, and logic used. That said, here are four scenarios with solutions to the problem of Power BI export to Excel not working.
Problem: Extracted data not filtered as in the report.
To combine multiple tables for different logic, it has been decided to create a master table and relate it to the transaction tables. The calculation logic is maintained in transaction table. The master table columns are used in the visuals and filters. The values and logic are given in the transaction tables.
When the filter is applied, it automatically filters the transaction table, since they’re related. However, while extracting the data to Excel, the data is not being filtered like its related column in the master table.
Solution: Replace the column from the master table in the visual with the related column from the transaction table.
Problem: Values from the extracted Excel don’t match data values from the report.
The extract will provide only the unique values from the data sets. So all the rows on which the aggregation logic is calculated are not being extracted to Excel.
Solution: Created an auto-incremented unique identification ID for all the transaction tables to extract all the rows available in the table.
Problem: Client does not want to see all internal calculations or references.
Solution: All unwanted columns from each table individually ‘hidden from client view’ so that the extract does not fetch those columns.
Problem: Logic calculated on data, when extracted to Excel, is applicable for each line. So some logic, such as percentage calculation wasn’t displaying correct values in the export.
Solution: All the columns needed in the extract are included in to the logic and all the other columns are hidden. As the logic now includes all the columns in the extract, the percentage displayed in the extract is the same as the value from the report.
The Best Power BI and Visualization Solutions
If you’re having problems getting the right view of your data, or your visualization dashboard needs an update, consider using a third-party specialist. They can often be less costly than creating your own systems in-house.
If you have additional questions about how to handle data extraction, filtering, and/or visualization, contact Tek Leaders. Our team of visualization experts can also create custom dashboards that enable you to generate robust visuals and make stronger evidence-based decisions. You can reach us by email directly.
Shashank Reddy Tummala.
What makes a data visualization dashboard effective?
They’re not the easiest tools to design from scratch. They need to display information and insights in the clearest way possible, and be interactive so that users can filter data and generate new insights. With so many factors to consider, it’s easy to get it wrong.
To help, we’ve made a series of detailed dashboard data visualization infographic examples to help you create the most efficient and user-friendly dashboards for your data. Using this guide, you’ll know precisely what goes into creating a custom dashboard for your organization’s needs.
What Does an Effective Dashboard Database Visualization Look Like?
To make a custom dashboard, you should first consider the role that dashboards play in your organization. A dashboard is an information hub that collects and displays data and visuals in one place, either on a desktop computer or a mobile device. Like other types of web and mobile applications, users can interact with the dashboard to display different types of information. For example, you can toggle between data filters to analyze the data from multiple angles.
The most effective dashboards look simple, but display very detailed information. They focus on just one area of business like mortgage production reports, commercial loan reports, or sales performance by product.
Narrowing the scope of your data visualization dashboard allows you to zero in on the insights that matter. It also makes the dashboard easier to read and use. Most organizations create multiple dashboards for every aspect of their businesses to keep their data organized and track vital metrics.
To create an attractive, informative interactive display, take a look at a few examples of effective dashboard data visualization infographics.
Examples of Dashboard Data Visualization Infographics
In the dashboard data visualization infographic below, you will see an example of an effective design layout that displays all of the information you need to identify patterns in a given dataset.
This particular dashboard focuses on mortgage loans as they relate to various demographics. Banks and lenders that use this dashboard can quickly see median loan amounts by demographic and more detailed breakdowns of loans by each dataset. This helps lenders serve their customers better and verify that they are following Home Mortgage Disclosure Act (HMDA) guidelines.
What makes this dashboard effective is that it follows three simple layout rules.
#1 The Main Visual: In the top left corner of the dashboard, we created a series of bar graphs that represent median loan amounts by demographic. Even if users only glance at this visual, they will understand the overall pattern that the entire dashboard is designed to track. This visual aid works as a summary of information. When you design your own dashboard, follow this basic layout: Put the most important and informative visual at the top of the page, preferably in the top left, since that’s where users usually look first.
#2 Filters and Interactive Components: Place data filters near or at the top of the dashboard alongside the main visual. Having these options at the top of the page is important for two reasons. First, users can immediately see that they have some control over the information being displayed. It encourages them to interact with the data. Second, it makes it easier to see how each filter affects the main visual and all of the other visuals underneath it.
#3 Supporting Visuals: Place all supporting visuals underneath the data filter controls and the main visual. Supporting visuals are any charts or graphs that show detailed information about a specific aspect of the data. For example, in the dashboard data visualization infographic above, we created visuals for:
- The most common reasons why loans were denied.
- The number of applications received in each location.
- The number of applications received per race.
- The median income of loan applicants by county.
None of these visuals are comprehensive enough to be the main visual at the top of the page. They only show you part of the bigger picture. However, having them in the dashboard is still important because you can use them to generate insights, such as why certain demographics receive more mortgage approvals or denials than others. You can then improve your business products and services in response to this data.
For example, you can see that Tarrant County (the green bar in the center visual) receives a higher number of applicants than average. Using this information, you may look into why so many applicants live in this county and what you can do to increase application rates elsewhere.
Every dashboard is different. The specific visual aids that you choose for your dashboard depend on a number of factors including your business strategy and the type of data you collect. Experienced data scientists and dashboard designers can help you identify the best visuals to use.
How to Create Dashboard Data Visualizations
The main challenge of creating a dashboard is selecting the right visuals for each dataset. To do this, you must think carefully about your business strategy and the goals of the dashboard.
In the dashboard data visualization infographic above, the visuals are designed to track every aspect of HDMA guidelines, including income, race, location, and reasons for application denials. Every visual has a specific role in this process.
- Applications visual works best as a bar chart because users need to quickly see how many applications they’ve received from each county and whether this is below or above average (marked by the thin grey line).
- Applications by race visual works best as a pie chart because this makes it easy to see which groups submit the highest and lowest percentage of total applications.
- Loan denial reasons visual features boxes that vary in size and hue to signify how many applications were denied for each specific reason. In this case, you’ll see that debt-to-income ratios are the most common reasons for denial across all counties.
- Median income by race visual is shown as a heat map graph, allowing you to see which groups have the highest and lowest income in each county.
Having more than one type of visual in the dashboard makes it more engaging and helps you sift through data more effectively. However, understanding how to display each dataset or metric involves some trial and error, especially if you’re not experienced with data analytics.
This is where a knowledgeable dashboard designer can help. When you hire a data analytics firm to create custom dashboards and visuals for your business, you won’t have to guess which visual aids to use. These firms often already have basic templates that track metrics related to your industry that they adjust to fit your organization’s workflow and preferences.
They can also design a new dashboard from scratch. With experienced data scientists on staff, the firm will know exactly which types of visuals are most effective. They also have advanced data analytics and visualization tools. This is a major benefit for small businesses or those that have limited budgets, with access to the world’s best visuals at a much lower cost. Partnering with the best dashboard consultants will help you connect more strongly to your data and find solutions to your organization’s most pressing issues.
Contact Tek Leaders to design your own custom dashboard today. Our detailed and interactive dashboards harness the power of your insights and get immediate results. If you have more questions about our dashboard services, you can reach us by email directly.
Shashank Reddy Tummala.
Data analytics outsourcing companies let even the smallest businesses compete with the biggest names in their industries. These companies offer the same powerful analytics tools that the most successful companies use to get ahead—often at a much lower cost.
Before you hire one of these companies to help you make better data-driven decisions, you’ll need to know what to look for. What sets one trustworthy data analytics company apart from another? In this guide, we’ll show you how to find a third-party firm that will give you the best possible results.
What Does a Data Analytics Outsourcing Company Do?
Data analytics outsourcing companies take on most or all of the responsibilities of data management for your organization. They usually have their own servers and other hardware, as well as software licenses and proprietary systems for analyzing data. The company charges your business a flat fee to use its system and services.
These services may include:
- Business intelligence planning and reporting;
- Data collection and storage (including cloud storage);
- Big data normalization;
- Data mining;
- Predictive analytics (sometimes using machine learning algorithms);
- Consumer analytics and customer insights;
- Fraud prevention analytics (particularly for the insurance industry);
- Spatial analytics;
- Visualization tools; and more.
Every data analytics outsourcing company is different. Some offer only a few of these benefits, while others cover them all. The cost of services also varies from firm to firm. To choose the right data analytics firm for your organization, think carefully about the benefits they offer and weigh them against the total cost.
How to Choose the Best Data Analytics Outsourcing Company
How can you tell whether a data analytics outsourcing company is trustworthy and offers the best services for the price? Start by asking your main point of contact these 10 questions:
- Does my organization need to do anything to prepare for this transition?
The best data analytics outsourcing companies won’t require you to have any existing infrastructure or in-house IT staff. The third-party firm should provide all of the tools and support needed to migrate to new systems.
2. Will my staff need training?
Reliable companies provide all of the training materials for your in-house staff. The best firms also create individual user authorizations and dashboards based on existing workflows. The system should be intuitive from the start.
3. What data storage options does your company offer?
The company must provide secure cloud storage, at minimum. Some companies also allow you to store data onsite and use cloud storage backups. No matter which option you choose, the company should help you migrate to cloud storage from your current system.
4. Is the system flexible?
Customizable dashboards and business intelligence (BI) portals are a must-have service. So are customizable reports and visualizations. Great companies will create a system specifically for your business based on your strategy and BI roadmap.
5. How advanced are the data analytics services and tools?
Services like automated report generation, robust visualizations, and predictive analytics via machine learning are incredibly powerful tools for finding trends in large sets of data. The company you partner with should use the most advanced tools on the market.
6. How reliable is the system?
The third-party firm should provide 24/7 customer support every day of the week to answer any questions your staff may have and to troubleshoot tech problems. It should also guarantee at least 99 percent uptime.
7. Is my data secure?
The company must follow data security best practices, including encryption and robust user authorization protocols.
8. Is the system scalable?
Ask whether you can quickly scale up or down based on your business’ latest needs and market trends.
9. How much does it cost?
The service should be value-driven. In other words, the company will assess the cost of these services based on overall results, not on time or resources spent per project. The best companies charge a fixed monthly fee and only charge for the services you actually use.
10. Can I see examples of dashboards or reports you’ve created in the past?
Seeing real examples of dashboards the company has created will help you decide whether the service is right for you.
Your contact at the data analytics outsourcing company should have a solid answer for each of these questions. If the company doesn’t provide one or more of the key services above, then it may not be worth the investment. When it comes to choosing the best firm to work with, you can afford to be picky. You shouldn’t settle for an outsourcing contract that doesn’t meet all of your needs.
Should You Hire a Third-Party Firm?
Most businesses, especially small or medium-sized enterprises, should absolutely hire a data analytics outsourcing company. Smaller enterprises often don’t have room in the budget to hire an experienced team of data scientists to perform advanced data analysis every day. By outsourcing this process, you’ll get the same expertise at a much lower cost. You can easily compete with the giants of your industry.
However, not all data analytics outsourcing companies are equally knowledgeable or reliable. If the firm outsources work to unskilled freelancers who have little experience with data science, then you may not get the deep, insightful results you want. Security is another pain point when you hire a third-party firm. If the firm doesn’t take the steps necessary to protect your data, you may be vulnerable to breaches or data theft. Trustworthy firms address all of these issues by hiring the most skilled and experienced data scientists to keep your information safe.
A reliable firm will also work with your current IT staff (if you already have an IT team) to make sure everyone is on the same page. Sometimes, in-house IT staff are hesitant to let another company take over data analysis responsibilities. However, by working closely with your staff, a third-party IT firm can quickly establish trust, prepare your team for the transition, and ease your staff’s workload. Your in-house staff will appreciate having extra time to work on big picture projects by outsourcing tedious data entry and analysis tasks to a third party.
As long as you select the most experienced firm, negotiate a favorable contract, and communicate with your in-house staff, you’ll be successful. By the end of this process, you’ll have a seamless analytics system that generates powerful insights and helps drive your business forward.
If you’re thinking about outsourcing your data analytics process to a third party, contact Tek Leaders today. We are a leading provider of advanced data analytics and business intelligence services. Tek Leaders provides powerful tools and full-service support to businesses looking to maximize their data. If you have more questions about data analytics outsourcing companies, you can reach us by email directly.
Shashank Reddy Tummala.