How MSPs Can Cash In On the Big Data Gold Rush

How MSPs Can Cash In On the Big Data Gold Rush

July 2

A survey by IDG found that data-related initiatives will rule IT spending in 2015. Enterprise and SMB respondents expect to invest an average of $13.8 million and $1.6 million respectively this year as they look to enhance their ability to make sense of all the information in their back pockets. Taking advantage of big data often means integrating new systems and adopting new security policies using IT resources many smaller companies can’t afford to spare. By nature, MSPs are positioned to support SMBs looking to maximize their informational assets with a concept affectionately known as managed big data.

The bustling field of big data analytics offers yet another category of services MSPs can add to simplify IT for the overwhelmed client. By tackling infrastructure challenges and tending to any technical quirks that may arise, service providers free those clients up to focus on what matters most – running their business and providing the best customer service they can muster. The big bonus, of course, lies in the efficiency gains and revenue boosts generated from the data-driven decisions they’re privy to.

‘Analyze’ the Options For Managed Big Data

When it comes to managed big data, MSPs must be just as diligent in choosing their technology as the customers they aspire to support. Here is a quick look at three service offerings that make sense:

  1. Business analytics: One thing business analytics does is provide insights that allow companies to profile and better target their customers. This type of offering delivers big data tools that can help them identify the patterns necessary to understand who their customers really are.
  2. Data visualization: Since actually making sense of big data is easier said than done, companies are turning to data visualization for a more comprehensive view. Data visualization uses graphical representations (think infographics) to present mountains of structured and unstructured data in a format that is easy to read and put into action.
  3. Predictive analytics: MSPs can give themselves a competitive edge by offering clients the power to predict future outcomes. Predictive analytics is a type of big data technology that sizes up sets of current and historical data to help companies make crucial determinations about future events.

Identify A Target Market

MSPs will have a better chance of striking big data gold when picking and perfecting a specific niche. For most firms, the right niche market will be determined by the crowd they’re trying to appease. With both in mind, examples of the ideal target market include:

  • Financial services
  • Fraud detection and prevention
  • Marketing and sales
  • Retail
  • Supply chain
  • Telecommunications
  • Transportation

Whether it’s healthcare or government, there is an abundance of big data tools and technologies available to MSPs looking to make that investment.

Find the Perfect IT Partner

Partnerships are critical to success in the IT business, and the same applies when mixing in big data analytics. In order to effectively tap into this market, MSPs need to upgrade their IT infrastructure and enhance their service offerings in a way that minimizes exposure to disruptions and security risks. Established tech companies can offer solutions tailored with the resources and support they require – all while utilizing the cloud’s flexible pricing model. For MSPs, being able to help SMBs solve complex business problems will likely depend on the big data capabilities of their IT partner.

Stay A Step Ahead

Predictive analytics is about as safe as any bet in the current climate. However, MSPs are advised to look towards the future by monitoring new and emerging big data trends. You might not hear much about it now, but streaming analytics is what some experts are predicting to be the future of big data. Unlike traditional analytics, which processes data at rest, the streaming variety analyzes data in-motion, enabling companies to harness near real-time insights that fuel faster decision making. Hopping on such a hot bandwagon just as it’s catching steam can propel MSPs yet another step ahead of the competition.

IT leaders in small and medium sized companies are learning that implementing big data into their existing infrastructure is a lot harder than they ever imagined. From managing the installation to supplying the capacity and tools, MSPs can stand out from the crowd by delivering managed big data solutions that keep hassles at bay.