4 Reasons to Choose In-House Analytics over an Analytics ConsultantReading time: 3 minutes
In the modern business world, data analysis is no longer an advantage over competitors – it’s a requirement if your business wants to stay competitive at all. Data analytics offers objective insight into how your business functions and where it can improve in every aspect of its operations.
But when deciding how to bring data analytics to your business, you face a choice:
- Do you hire an analytics consultant to deliver the answers you need?
- Or do you bring analytics in-house?
While there are advantages to working with a consultant, bringing analytics in-house is a far better option, for the following reasons:
Read on to learn more about how in-house analytics wins out in each of these categories.
Analytics consultants can offer answers to the questions your business is asking now. They can analyze your business’s history and offer suggestions for moving your organization forward. They sometimes even offer a custom-fit solution designed to address your business’s immediate needs.
But as your business grows, you may find a need to change the outcomes you’re predicting, the data you’re incorporating, or the questions you’re asking of your data. A consultancy may or may not be able to accommodate those changes in an actionable timeframe, and changes may come at a price.
In-house analytics offers you the ability to fine-tune and adjust as business needs shift. Without delay, you can update data inputs, change the frequency and content of reports, and build new models to predict different or additional outcomes.
In other words, in-house analytics grows and changes alongside your business, offering you what you need when you need it.
Rapid Insight offers an in-house analytics platform that equips our clients to use our software to build bespoke in-house data marts, predictive models, and automated data cleansing workflows for less than a tenth of the cost of purchasing these services from a consultant.
Additionally, rather than paying a hefty price for a single data project or predictive model, Rapid Insight’s in-house analytics software allows you to generate as many workflows, models, and data dashboards as you need, all for a single price.
Visit our pricing page for additional information!
A true advantage of in-house analytics over working with a consultant is that bringing analytics in-house offers you the ability to directly examine every aspect of your data preparation or modeling process.
In contrast, consultants use proprietary “black box” tools and procedures that you’re never privy to as a client. So while you may like the results of a consultant’s work, it’s likely that you’ll never fully understand how they arrived at their conclusions.
The transparency of in-house analytics allows you to gain a full understanding of how and why each step was taken. You’ll have fully defensible results because you’ll understand the path you followed to arrive at your conclusions.
In-house analytics doesn’t mean you need to go it alone! Rapid Insight offers on-call, 1-to-1 support from our in-house data analyst support team.
In that sense, you get the best of both worlds. You get control, flexibility, and freedom at an affordable price. But you also have access to the expertise of a team of data analysts with experience in a wide range of industries, from higher education to healthcare and everything in between.
Training and support are free and unlimited with Rapid Insight’s software licenses. The analyst team is always here to help advise and guide you through all of your data prep and predictive modeling projects.
Marilyn Roth, a Rapid Insight user at Bunker Hill Community College, said: “I’ve reached out to the Rapid Insight analysts to brainstorm ideas and for general guidance, much like a team member, even when it’s unrelated to work I do with their product. I’ve literally started an email with ‘I know this isn’t really your job but I appreciate your input…’ only to get a researched and thorough response within an hour. This also speaks to the personal relationships they build with their customers that make it easy to ask for support.”
And this user is not alone. Rapid Insight’s users often speak of the support as the best customer service they’ve received from any company. It’s one of the key differentiating factors that keep our users working with us year after year.
In-house Analytics vs Consultants
There is certainly good reason to work with an analytics consultant: you get access to the wisdom they’ve accumulated by working with past clients.
But with Rapid Insight, you get the best of both worlds. You get the freedom, flexibility, and cost-efficiency of in-house analytics, and you also get on-call access to our in-house team of expert data analysts. In other words, you get all the advantages of a consultant without any of the sacrifices.
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