Big Data as a Service (BDaaS)

• Big Data
• Big Data Global Market

Introduction

An introduction to the concept of Data-as-a-Service for TAdviser was prepared by Svetlana Vronskaya, author of the telegram channel Analytics Now.

The term Data-as-a-Service became especially popular after Gartner analysts placed this service on their Hype Cycle, a list of promising technologies in 2017.

Data as a service is a distribution model or strategy for managing data when users do not independently engage in the processes of collecting, storing, integrating, processing and analyzing data, but transfer these tasks to specialized cloud providers. This approach ensures that the data needed for their business is delivered to users, without requiring infrastructure costs and additional staff.

The data-as-a-service model works in two planes: volume-based, when payment is made depending on the amount of data, or service with payment for a call, when a fee is taken for each consumer API call to the data provider platform. The second plane is based on type-based data types that are pre-structured by vendor by type or attribute, such as geographic, financial, and historical data.

According to the DaaS paradigm, data is provided to the user on demand, regardless of where the provider and consumer of information is located. And of course, this can yield savings of 10% in the field of data management, which for large organizations can result in a very decent amount.

Of course, like any cloud solution, the main risks of the DaaS paradigm are data security and privacy. The risks of data leakage, ensuring information security, requirements for ensuring compliance of confidential data, for example, requirements for placing personal data on servers that are located in the territory of the state - all these are important issues that the DaaS provider must solve.

DaaS approach is taken by the UN, Tesco, Nestle and many other companies that need to provide access to a large amount of data and not spend billions on it.

Market Definition and Size from ResearchAndMarkets

According to the research report ResearchAndMarkets published in early 2020, the Big data as a service - BDaaS market reached $4.99 billion in 2018.

BBDaaS is a combination of big data analytics and cloud computing platforms that help companies reduce costs and time to deploy big data projects. In addition, BBDaaS allows enterprises to manage big data in the cloud and provides easy access to data for all departments at any time, analysts explained.

The cloud platform market for Big Data for the year reached $5 billion

Enterprises incur significant costs in building big data infrastructure and attracting skilled personnel. However, with the introduction of big data technology based on cloud platforms, these costs have become significantly lower. BDaaS is considered to be the provision by a third party or service provider of analytical information that helps customers compete - is contained in the report.

According to the report, the following companies are the leading players in the BBDaaS market:

• Amazon Web Services
• Hewlett Packard Enterprise
• IBM
• Microsoft
• Oracle
• SAP
• SAS Institute
• Teradata
• Google
• Accenture.

According to researchers, by 2026 the global BBDaaS market will reach $61.42 billion. At the same time, the average annual growth rate from 2019 to 2026 will be 36.9%.

The main factor in the growing demand for statistical analysis is the accumulation of a large amount of unstructured data. In addition, growth is driven by factors such as the continued proliferation of intelligent systems, including infotainment systems in, cars smart sensors and meters; the development of cloud computing technologies, as well as the growing demand for intelligent data processing and predictive analytics, the report says.^[1]

Notes