Data warehouse as a service refers to a managed service and a type of outsourcing model that eliminates the expense of an on-premises data warehouse where the outsourcing service provider configures the software and hardware that an on-premises data warehouse requires. This is a type of paid service in which the data is being provided by the customers to the outsourcing company.
The rise in need for enterprises to understand the available information regarding business processes, products, customers, and services, the real-life applications of the technology in finance, business, healthcare, and other industries, and rising concerns on data manageability are the major factors driving the data warehouse as a service market. The growing importance of business intelligence in enterprise management across the business ecosystem, the demand for data warehouse services, especially across the cloud-based deployment, and the high need for low latency and high-speed analytics accelerate the data warehouse as a service market growth. The large volume of structured and unstructured data generated across multiple end-user industries including e-commerce, government, manufacturing industries, BFSI, retail, and public sector, the rise in adoption of the data warehouse to perform advanced analytics, and the increase in regulatory compliance influence the data warehouse as a service market. Additionally, the increasing complexity of data, rapid growth in data volumes, expansion of multi-cloud architecture, and high usage of reports, dashboards, and analytics tools by enterprises positively affect the data warehouse as a service market.
Industry Verticals:
- Banking, Financial Services, and Insurance
- Retail and E-commerce
- Healthcare and Pharmaceuticals
- Telecommunications and IT
- Government and Public Sector
- Media and Entertainment
- Travel and Hospitality
Applications of Data Warehouse as a Service:
- Fraud Detection and Threat Management
- Supply Chain Management
- Risk and Compliance Management
- Others