The KPIs to measure the growth of an analytics marketplace

A data analytics marketplace has been growing tremendously. Every organization, from an IT producer to a business consumer, finds it an asset to automate complex processes, drive strategic insights, and personalize customer experiences. There have been frequent headlines about data; Be it data-as-a-service, data breaches, data leveraging, data management, and more. Businesses strive to implement self-service data access to quickly find, understand, and leverage it for specific requirements. They need analyst vendors to curate an agile and on-demand approach to bring the trusted reports of business analytics. 

The data analytics marketplace caters to several business requirements, so it has to evolve its functioning for up-gradation. 

analytics marketplace

4 key performance indicators (KPIs) that can measure the growth of the analytics marketplace include 

1. The early adopters of the marketplace have to allot much time for analysis. As time and proficiency grow, upgraded skills reduce analysis time from months to days.

2. Data preparation is the crucial aspect of business analytics. It usually takes much effort and cost. As per the growth data, preparation costs get cut in half within time. 

3. Another KPI is to measure the hard cost savings done through the retirement of legacy systems.

4. Improvement in security and governance of businesses' essential data and access policies is one more useful KPI. 

Moreover, there have been many data-driven solutions with new technologies and platforms focused on buyers' interests. Overall, the data marketplace is leading the thread of determining the winner and loser in the market.


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