![Why companies are increasingly opting for a Data-as-a-Service [DaaS] approach to boost their bottom line](https://brightdata.com/wp-content/uploads/2022/02/Why-companies-are-increasingly-opting-for-a-Data-as-a-Service-DaaS-approach-to-boost-their-bottom-line.svg)
In this article we will discuss:
- What is Data as a Service?
- How companies are leveraging DaaS tools to boost Return on Investment (ROI)?
- DaaS use cases that will inspire your team
What is Data as a Service?
Similar to Software as a Service (SaaS), Data as a Service (DaaS) enables companies to outsource their data collection to a third party. This means that companies no longer need:
- In-house infrastructure
- Dedicated IT and DevOps teams, and engineers
- To spend massive amounts of time on their data collection operations
By building on previously existing data collection know-how, expertise, infrastructure and technology, DaaS empowers companies by:
- Reducing time from data collection to data-based insight (conducive to near zero latency)
- Enabling managers, and team members to focus on core business processes
- Saving on both money, and resources while enabling individuals to make more strategic decisions based on real-time industry happenings (both from a competitor, and consumer-based standpoint)
How companies are leveraging DaaS tools to boost Return on Investment (ROI)?
DaaS tool drives ROI in a few key ways:
- Agile scalability – This means that data collection operations can be turned on and off at the click of a button. This is great for companies that have needs that are constantly changing. So one month they may need to scan all social media profiles of relevant influencers in order to enrich their marketing software, for example, and the next month they may just need a short ‘refresh’ to ensure that the information is up-to-date. This allows companies to always be in control of their data collection budget while only spending money when it is necessary for a Proof of Concept, or for a new customer in a unique/new industry.
- Data extraction bypass – DaaS tools enable companies to take a no-code approach to data collection, meaning you no longer need a team of data acquisition experts that need to constantly write, and update code. Furthermore, target sites that companies want to extract data from typically change site architectures regularly in order to make the data collection process more complex. DaaS offers the opportunity to tap-into technology that is updated on a day-to-day basis with cutting edge retry logic so that data streams are never interrupted. [Clarification: This pertains strictly to open-source, non password protected data].
- Click-and-collect – DaaS gives you the ability to gain access to the data you need within a matter of a few simple clicks. First you choose your desired target sites, and data points within them (say pricing data on all March flights to Amsterdam for an Online Travel Agency (OTA) site that wants to compete on pricing in real-time). Next you select the frequency with which you would like data collected, and delivered (say, hourly, daily, weekly or monthly) as well as your preferred delivery format (JSON, CSV, HTML, or XSLS). Finally, you choose where you want the data to be sent to (webhook, email, Amazon S3, Google Cloud, Microsoft Azure, SFTP, or API).
That is it!
No cleaning
No synthesizing
No matching
No structuring
Your target data points are now ready to be analyzed, and /or integrated into your proprietary websites, systems, and applications.
DaaS use cases that will inspire your team
Here are 3 use cases to help stimulate your imagination, but keep in mind that this is a fully customizable tool. So if the data points you are after is open-source, DaaS systems will be able to obtain it on your behalf:
ONE: Digital retail copyright infringement prevention
This company uses Bright Data’s Web Scraper IDE (our patented DaaS solution) to scan marketplaces, search engines, websites, social media channels, web forums, and more in order to identify potential infringements, policy violations, as well as unauthorized content, product vendors, and brand squatters.
TWO: Real-time dynamic pricing in the travel sector
This business uses Web Scraper IDE to collect prices of many travel agencies, and airline companies in real-time in order to keep their pricing lowest-in-market. They integrate all industry pricing for products they offer (car rentals, hotel rooms, flights, and travel bundles) into their website’s dynamic generated pricing logic, helping them to significantly increase market share. Marketing campaigns will also benefit from this newfound capability to beat any competing price, enabling them to use slogans such as: ‘lowest in-market’. This in turn helps drive additional traffic, and conversions.
THREE: Company/people data for startup success prediction models
This is a platform for hedge funds, angel investors, and accelerators that uses Web Scraper IDE to get company information, and people data in order to provide insights vis-a-vis their platform. This data along with things like team, industry, and product info, power a prediction tool that helps understand the potential success of any given startup in its respective industry.
The bottom line
Data as a Service is revolutionizing the way in which companies source, and interact with data, it is now becoming a readily available commodity instead of a ‘hard-to-mine’ precious metal. Using a DaaS solution will save resources – reducing costs and data manpower while optimizing the time it takes to get from ideation to application. DaaS will provide decision-makers with consumer, and competitor-based insights that will ultimately help them turn their teams, products, and companies into market leaders.
