Are Standalone Data Analysis tools better or a Single Data Platform

As organizations observe the need and understand the importance of Data Analysis given the proliferation of business data by the minute, it is important for businesses to consider one or the other option. One being using standalone tools for Data Collection, Preparation, Structuring, Analysis, Visualization, Reporting etc. or Other being using 1 single platform which provides all the capabilities of Data Collection to Data Reporting - entire spectrum under one roof.

Again, the choice, if at all companies want to dig deep into what their business data is trying to inform them about, is the firm’s or the company’s per se.?

There are certain benefits and limitations of both, i.e., using separate tools for the entire journey of Data Analysis or one single tool offering all the capabilities. One of the major advantages of using standalone tools is specialization, i.e., each tool specializes in one single aspect of the Data Analysis value chain per se. This means focused efforts on either Visualization or reporting or anything else. But this also comes at a cost. This cost must be divided into 3 categories - cost of usage or subscription of the tool either as a team or per user monthly or annually and this can be a sizeable number; next is the cost of administration in handling the integration, billing, support, etc. on a monthly or annual basis; last but not the least the cost of time spent on only one of the activities involved in the Data Analysis value chain. So, using one tool for one area of Data Analysis means a higher degree of focused specialization but only one echelon of the Data Analysis value chain being served.

Alternatively, the major advantage of using one single tool which provides the entire spectrum of services involved in the Data analysis value chain means advantages on various fronts - lowest effort on cost of search of specific tool or tools, all services being provided as a one-stop-shop solution, low cost of administration, low cost of time spent, and some degree of customization to a certain extent. When a single service provider is providing a set of services, customers may get the benefit of some form of customization as the product may not be as standardized as is the case with standalone offerings. But, specialization may be affected a wee bit here but again not that much.

Also, while some standalone Data analysis products claim that they provide the entire spectrum of services, they do but they scratch the surface of everything so to speak. The need of the hour when adopting a one-stop-shop Data solution is that it must be wide and deep at the same time. This means that while it offers to serve all the activities involved along each of the echelons of the Data analysis value chain, at the same time, it must also go deep enough per echelon so that it ends up adding serious value to the customer per se.??

If you feel Data is something you really want to use to your advantage, it's about time you start acting and adopt either one or more of the standalone tools or a single one-stop-shop solution for your Data needs today!?

Our solution, Qualetics, gives you the advantage of a one-stop-shop solution for all your Data needs!

Sumanth V. Mike Fowler Qualetics Data Machines