Outsourced vs Inhouse Analytics Teams: What’s Smarter In Australia?

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Outsourced vs Inhouse Analytics Teams

• Data analytics is a quickly evolving technology
  that harnesses data, Artificial Intelligence
  (AI) and advanced market insights to identify
  meaningful patterns in large data-sets. Smartly
  deployed analytics provides premium insights into
  an organisations performance metrics, and the
  complex, often bewildering, changes happening
  around them.  In fact the most in-demand
  consultant skills in Australia according to
  Business Insider and research by Expert-360 are
  project management, process management, data
  science and data analytics for businesses with
  more than 500 million turnover.

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Designing Delivering Business Analytics With
Inhouse Teams

• Advantages
• Doing it yourself can offer greater control
  less compliance.
• As an internal resource servicing the analytics
  needs of the wider business.
• Projects and internal resources can be internally
  prioritised to meet the demands of an initiative

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Designing Delivering Business Analytics With
Inhouse Teams

• Disadvantages
• Many companies lack the in-house knowledge and
  experience needed to put together an analytics
  team
• There is a high cost associated with attracting
  and retaining high calibre BI professionals
  inhouse.
• More often than not internal analytics resources
  are time constrained
• Keeping it all inhouse also means you dont have
  access to literally decades worth of experience

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Partnering with a BI Consulting Firm

• Advantage
• The obvious biggest advantage is cost. 
• They have all the technology and people at their
  fingertips as well as the experience and can
  usually easily flex resources up or down to meet
  your needs.
• Outsourcing data analytics allows the management
  and executive team to focus on other core
  operations of their business.
• BI consultants are expected to deliver results.
• A large benefit of commissioning an external BI
  firm is specialisation.

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Partnering with a BI Consulting Firm

• Disadvantages
• There is always a risk of exposing sensitive
  company data and losing confidentiality.
• Is your business a priority for the consulting
  firm? Be certain that any agreement or scope of
  work has tight timelines and outputs.
• There can be communication breakdowns if the
  business sits back and relies on the outsourcer
  to handle it all. 

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• Reference
• Johnson, S. (2019). Outsourced vsInhouse
  Analytics Teams Whats Smarter In Australia?
  Inside Info. online Insideinfo.com.au.
  Available at https//insideinfo.com.au/business-i
  ntelligence-and-analytics/outsourced-vs-inhouse-an
  alytics-teams-whatE28099s-smarter-australia
  Accessed 19 Feb. 2019.