We live in a digital world and today’s businesses operate in an Information Age Economy. Businesses have to process exponentially more information and data than companies in the past. Having a Data Analyst or Data Scientist on staff or under contract can help companies be more competitive and efficient. Large companies and the Fortune 1000 have been hiring Data Analysts at a rapid clip. Small businesses and midsized companies have been slower to bring this role on but can benefit just as much as large companies, if not more. Outsourced data analyst services and data analyst staff augmentation can make these roles affordable and get these skills into a business cost effectively.
In the remainder of this article, we will cover what is data analysis, data analyst staff augmentation, the role of a data analyst, how to outsource data analysts, and outsourced data analyst services.
What is Data Analysis and Why is it Important
Data Analysis and business analytics is the process of taking all the raw data that a business collects and making use of it. Two terms that come up frequently are data mining and data aggregation. Data mining is the process of analyzing large amounts of data and looking for trends. Data aggregation precedes data mining and is the process of gathering and organizing data prior to analysis. Once data is aggregated and mined, forecasting and predictive modeling can take place. Forecasting is exactly what it sounds like and uses past data to predict future results. Predictive modeling also looks at past data but is more focused on identifying patterns and trends. One final major aspect of data analysis is data visualization. Creating usable charts, tables, graphs, and dashboards is commonly a part of data visualization, data analysis and the role of a data analyst.
Role of a Data Analyst and Why They Help
A recent article in CIO Magazine described the role of a data analyst as follows.
Data analysts work with data to help their organizations make better business decisions. Using techniques from a range of disciplines, including computer programming, mathematics, and statistics, data analysts draw conclusions from data to describe, predict, and improve business performance. They form the core of any analytics team and tend to be generalists versed in the methods of mathematical and statistical analysis.
We agree with the above definition and like the focus on helping a business make better decisions. Being able to make more informed and intelligent decisions through the use of data is why companies hire data scientists and analysts or contract outsourced data analyst services.
How Do Outsourced Data Analyst Services Work?
Outsourced data analyst services can be an economical and flexible way for a small business and a midsized company to leverage data analytics. We provide services in this area in two main ways, a) as outsourced staff and b) as a managed service. Companies like Valenta can provide an outsourced data analyst who can be a virtual employee and manage all an organizations data aggregation, mining, forecasting, modeling, and dashboard needs. Staff we provide have training and experience with all the required technology and software tools used in this area including, Power BI, Zoho Analytics, Tableau, and more. We provide different flexible monthly rates for staff based on their experience levels. All our engagements run month to month and can be ramped up and scaled down easily. Valenta and companies like us also can provide data aggregation, mining and dashboards for forecasting, prediction, and reporting as a managed service. Many of our clients like this approach because they get a team working on their requirements. Companies these days may be challenged with a deluge of data, but at least they have flexible commercial options that can help them address it.
Valenta Data Analyst and Data Scientists
Whether it is dedicated virtual staff or managed data analytics as a service, our staff is an experienced and economical option. Our local partners are also part of our services. They have practices in industries and sectors they know well and have experience with. Our Managing Partners work with other Partners locally who have Data Analytics experience plus offshore staff to deliver the right services to our clients. Please feel free to reach out to one of our local Managing Partners at any time to discuss if our outsourced data analyst services or data analyst staff augmentation might be of benefit to your business.