What is Data Science as a Service (Dsaas)?
Data science as a service:
The science of data as a service or commonly known as DSaaS is a type of outsourcing that includes the delivery of information obtained from advanced analysis applications executed by data scientists in an external company, to corporate clients for commercial use. A Data science as a service provider collects all the customer data then prepares it for analysis, then after executes analytical algorithms against refined data, and returns the findings generated by the algorithms to customers.
Data science as a service typically needs customers to upload their data to a cloud database or a big data platform, where the team of data engineers and data scientists of the service provider can work with them.Some Examples of Data science applications invlove sales and marketing analysis around things such as which customers of a company are likely to buy more products and which ones may defect to rival suppliers; analysis of internet click data for the planning of online advertising and marketing campaigns; evaluate customer records to inform customer service representatives in call centers about which people who call for promotional offers are more likely to respond; and social media analysis that helps companies measure the public’s perception of their brands.
The results of these analyzes can be given to the executives and other clients users in reports and business intelligence panels or as data products incorporated in O.S, such as in the case of a call center application with built-in prescriptive analytics.
Data science as a service is a potential way for organizations to cope with the shortage of data scientists and other specialized data analysts. Companies increasingly seek predictive modeling, data mining and other forms of analysis to provide business insights from which they can benefit. But as the awareness of the benefits of the sophisticated analytics grows, the amount of trained data scientists is not keeping pace, leaving many companies unable to find enough to run all the analysis projects needed by their operations. business. In addition, the shortage of data scientists has increased the cost of hiring for the position. Data science as a service offers organizations access to analytical resources for specific data science applications without hiring or training their own analysts.