8 Reasons to Outsource Data Analytics Project

In today’s data-driven world, data analytics has become essential to business operations. However, not all businesses have to hire resources and manage in-house teams of data analysts. Outsourcing data analytics projects has become famous for companies looking to leverage data to make better decisions.

In this article, we will discuss the concept of outsourcing data analytics projects, data analytics outsourcing companies, and eight reasons why you should consider outsourcing your next data analytics project.

Outsourcing Data Analytics Project or Talent as a Service

Outsourcing data analytics projects or Talent as a Service (TaaS) is a model where businesses partner with external service providers to access data analytics expertise. Data analytics outsourcing companies offer enterprises access to a pool of skilled data analysts who can work remotely or on-site.

The providers manage the entire data analytics process, from collecting data to analyzing it and providing insights that businesses can use to improve operations & generate business leads. According to Statista, the global software outsourcing sector is projected to reach $430 billion by 2023. In the meantime, let’s learn why your business or startup should opt for data analytics project outsourcing.

8 Reasons: Why You Should Outsource Data Analytics Project

Better Project Management

Outsourcing data analytics projects leverage businesses with better project management. The project outsourcing providers have experience working on various projects and understand what it takes to deliver a successful project.

They can manage projects effectively, ensuring they are completed within timelines and budget allotments, and meet the required software quality standards. It allows enterprises to focus on their core competencies while leaving the data analytics tasks to the experts.

Increasing Productivity

By outsourcing data analytics projects, enterprises can increase productivity rather than spending time as well as resources on building an in-house team. They can focus on their core operations while the outsourcing provider handles data analytics.

It helps allocate resources where they are most needed, ensuring that they remain productive & bring business .

Reduced Project Costs

It eliminates the need to hire a full-time in-house team, saving businesses money on salaries and benefits. Talent as a service (TaaS) providers offer flexible pricing models that let enterprises pay only for the services they need. Ultimately, It results in diminishing overall project costs.

For example, a retail company wants to analyze customer data to improve its marketing strategy. Hiring a full-time in-house team of data analysts can be expensive. Instead, the company can partner with an outsource software development company that can deliver the necessary expertise at a lower cost.

Access to Invincible Talent

Partnering with Talent as a service provider, such as Odyssey Analytics, gives enterprises access to a pool of skilled data analysts with experience working on real projects. These analysts are experts in their field and can provide businesses with valuable insights to help them make better decisions. Companies can tap into this talent pool by outsourcing data analytics projects, giving them a competitive edge in the market.

For instance, a healthcare provider may require data analytics expertise to analyze patient data to identify potential health risks. Partnering with a TaaS provider can give them access to top-notch data analysts who can provide the necessary insights to improve patient outcomes.

Deliver State-of-the-art Solution

TaaS providers use the latest data analytics tools and technologies to deliver state-of-the-art solutions. They keep up-to-date with the latest trends in the industry, ensuring that they provide businesses with the best possible service. By partnering with a TaaS provider like Odyssey Analytics, enterprises can leverage the latest technology without investing in expensive tools or software.

For example, a manufacturing company may require data analytics expertise to optimize its production process. Partnering with project outsourcing or dedicated resource providers can give them access to cutting-edge technologies that enhance business operations.

Keep Stakeholders in Loop

One of the major benefits of outsourcing data analytics projects. It keeps stakeholders in the loop and keeps them updated about their project deliverables, features, and capabilities. The project outsourcing companies divide and conquer the whole project by splitting it into multiple sprints and models.

Now, the question comes, if the stakeholders are non-technicals, what will you do? The answer is simple. The development team presents the current project and revamps the project iteratively.

Faster Project Delivery

Talent as a service or software project outsourcing facilitates business stakeholders with faster project delivery. Instead of hiring an in-house workforce, the outsourcing strategy helps to hire Talent from around the globe with minimum wages.

For instance, hiring a software development team of 5-10 developers costs around $60k-$70k in the United States. Besides, the same team from Asia may cost around $20k-$30k. Therefore, It will permit hiring more Talent within budget and result in faster project delivery.

Remote Facility

In-house or onsite software development teams cost millions of dollars, while remote hiring delivers the best Talent from a diverse culture with zero operational costs. The remote hiring of Talent facilitates companies with countless benefits, no operating costs, average salaries, best team integrations, and more.

The project outsourcing companies and dedicated resource providers such as Odyssey Analytics deliver state-of-the-art end-products with full project ownership.

Odyssey Analytics: Your Data Analytics Project Outsourcing Partner

Odyssey Analytics is a prominent data analytics outsourcing company in the United States. We help with dedicated resources to data analytics, data engineering, and data science. As staff augmentation service providers, we have multiple services to help businesses on priority.

  • Outsourcing solutions for long & short-term projects
  • Highly skilled & experienced developers at your disposal
  • Versatile staff augmentation options for each project
  • Dedicated resources for AI & ML projects
  • Remote staff hiring

In addition, we are specialized in artificial intelligence and ML software development services to help companies. Are you excited to know more about our staff augmentation services? Read more about how we help enterprises to hire the top 2% of software talent.

Frequently Asked Questions

Why remote talent?

Remote talent offers companies access to a broader pool of skilled professionals worldwide, enabling them to tap into specialized expertise and potentially reduce costs associated with traditional office-based employment.

What are the benefits of outsourcing data analytics project?

Data analytics outsourcing companies offer flexible, scalable, and cost-effective solutions for enterprises looking to augment their workforce with specialized skills or fill gaps in their existing talent pool without the need for long-term commitments or extensive recruitment efforts.

How many types of outsourcing?

Outsourcing is broadly classified into four types: offshore outsourcing, nearshore outsourcing, onshore outsourcing, and cloud outsourcing, each with its own unique set of advantages and challenges.