These companies collect, transform, and share data for other businesses to grow. It takes time and effort to build a DaaS company, with challenges related to data quality, data coverage, and data availability. But, many are maturing and expanding their offerings and footprints, with a recent trend of big capital injections through initial public offerings (IPOs).
From DaaS (Data-as-a-Service) to DIaaS (Data Insights-as-a-Service)
So, what is the next step for Data-as-a-Service companies? Insights. Yes, offering insights to their customers. A data product manager from a mobile device data company says the following:
“It takes at least three months for our customers to start extracting insights from our data.”
Take an average personnel cost of approximately 10k to 20k USD a month depending on your location, their customers burn 30k to 60k USD at least to just start extracting insights from that data, and this is for a one-person team.
It is clear that many customers see this as a hurdle and DaaS companies are leaving potential revenue on the table. So, how to solve this? One way is to start offering Data Insights-as-a-Service, or DIaaS. Instead of selling the raw data, the company starts selling insights extracted from that data.
Enabling DIaaS with xyzt.ai
xyzt.ai is a Software-as-a-Service company. It allows the extraction of insights from vast amounts of location data. Records are obtained from tracking vessels, vehicles, crowds, or any asset that moves. It runs through web services in the cloud and users can bring their own device and their own data (BYOD).
With xyzt.ai’s latest product release, we are catering to the DaaS companies who are embarking on the DIaaS journey and are hence extending their business models. Now, xyzt.ai allows you to share your analysis, visualizations, and dashboards outside the platform, with your customers. Allowing you to not only offer your data, but also insights, as-a-service.
You can create a shareable link for the following pages on the platform: Visual Analytics (which allows you to share for example a heatmap of your data), Trend Analytics, Origin Destination Analytics, and Distribution Analytics. You can also share your dashboard. In addition to creating a shareable link, you can copy an embed code, which allows you to include the platform pages in your website or your own platform. You can manage and revoke links and you can update the state (such as the applied filters and styling) behind a link. Below is an example of an embedded dashboard.
Turning data into insights is no longer an (expensive) art!
Embedded interactive dashboard for extracting insights from floating vehicle data.