Data as a Service
Data as a Service (“DaaS”) encompasses companies that aggregate, curate, analyze and add value to data sets and then sell that data to augment organizations’ internal data sets to improve business processes and decision making. Many data providers wrap software applications or services around their core datasets to provide an integrated solution. A plethora of new data providers are emerging to coexist with – and sometimes replace – more traditional first party data providers. Don’t be confused…this report is not about other DaaS segment acronyms such as using the cloud to deliver data storage, management or analytics services, or “Desktop as a Service” that delivers virtual apps from the cloud to any device.
The data evolution has led to unprecedented demand for data outside of traditionally data-hungry markets like finance/credit, sales and marketing and real estate. Adoption has exploded for third party data across many other industries including retail, recruiting, healthcare, geospatial, food, agriculture, and others. Publicly-traded DaaS companies have demonstrated impressive operating results – above that of many other tech sectors. Companies like ZoomInfo have demonstrated that DaaS can scale, and other more sector-oriented companies achieve significant scale by wrapping around a focused software application where their data sets can provide a competitive advantage.
Data is the foundation of any winning application platform. Software and analytics are only as good as the data that powers them!