The pros and cons of outsourcing data analytics
Today, companies utilize data analytics not only to understand past performance but also to predict future trends and make strategic decisions. However, as the volume and complexity of data continue to grow, many companies find it challenging to manage their data analysis needs in-house. Outsourcing data analytics has emerged as a potential solution to this challenge, and it is expected to become an increasingly popular option.
According to a report by Allied Market Research, the data analytics outsourcing market is projected to see an impressive compound annual growth rate of 29.4 percent between 2017 and 2023. In this article, we will explore the pros and cons of outsourcing data analytics, thereby providing insights to assist businesses in making informed decisions regarding this critical aspect of their operations.