With organizations producing quintillion bytes of data daily, it is no wonder they are constantly searching for better tools for data management. G2 recently launched a Data as a Service (DaaS) Software category under the IT Management parent category. This category will help buyers find suitable data storage, processing, and analytics software under one roof.
Data management and sharing made feasible
DaaS platforms help improve the agility of data in the organization. Organizations face overhead challenges because of various data collection teams, data centers, and in-house data collection software. DaaS tools will eliminate the need for all this hardware and expensive software for data storage.
What is Data as a Service (DaaS) Software?
DaaS is similar to software as a service (SaaS) that delivers software over a cloud network. These platforms aim at providing curated datasets to various business functions using APIs. DaaS platforms may use various technologies like data virtualization, data cataloging, and self-service analytics for data management.
Data can also be delivered and operationalized with self-service analytics. DaaS software helps in knowledge transfer to customers or internal teams to make impactful decisions. With increasing relevance to today's companies, G2 set up this new category for data management.
What does DaaS architecture look like?
DaaS architecture can be built on various cloud platforms. Unstructured, structured, batch, and real-time data is collected from various data sources like IoT devices, on-premise databases, social media platforms, etc. Data is then processed using middleware, data ingestion, and data delivery pipelines. The data is then stored in a data warehouse. This data can then be used for visualizations using data aggregation. The illustration below shows an overall view of what DaaS architecture looks like. The DaaS platforms work on the concept of data as its product which can be shared with the end users on demand.
Source: Hazelcast
G2 data shows increasing buyer interest in data management platforms
G2 data shows that the category traffic for Data Management Platforms has risen 100% in January 2023 as compared to November and December 2022. This shows buyers were keen on finding software to solve their overall purpose of managing, storing, and sharing data. DaaS platforms can help these companies overcome data silos and obtain the data they need. DaaS platforms also allow for scaling data collection capabilities compared to in-house, rigid data warehouse software.
Applications of DaaS:
- Sales and marketing: With DaaS, these business functions can obtain data from various sources, such as social media and websites, to derive valuable insights and plan future marketing campaigns.
- Supply chain and inventory management: DaaS can help provide trend forecast data to manage the inventory stock and keep the flow of operations seamless.
- Corporate decision making: Data from DaaS tools helps the decision makers in the organization understand and analyze data obtained from various functions and make decisions that would benefit the organization.
What is in store for DaaS platforms?
G2’s Data as a Service (DaaS) category has 13 products currently and is expected to grow with more vendors interested in being categorized under it. Many cloud companies now also offer data as a service with other cloud services. Along with that, some companies leverage DaaS to speed up the process of obtaining insights from analytics. This helps organizations gain a competitive edge by making faster, more accurate decisions.
Studies show that data has a 20% growth opportunity. Data collection volumes can be scaled using DaaS platforms on a per-project basis. Most DaaS providers manage and maintain the tools themselves, saving the end-users from the hassle. Thus, G2’s new category will enable buyers to find the right DaaS tool for their organization.
Edited by Shanti S Nair
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Shalaka Joshi
Shalaka is a Senior Research Analyst at G2, with a focus on data and design. Prior to joining G2, she has worked as a merchandiser in the apparel industry and also had a stint as a content writer. She loves reading and writing in her leisure.
