Biggest Advantage of Using Outsourcing for Data Analytics Project - Assignment Example

Business Analytics Outsourcing1. What do you think is the biggest advantage of using outsourcing for data analytics project and why?The biggest advantage of outsourcing data analytics projects is the speed of delivery. In-house analytics projects usually take huge amounts of time before results can be delivered. Outsourcing results in a shorter project delivery period since with this approach, there is no need of designing tools from scratch, or training employees on skills required for execution of the project.

This approach is especially useful when an organization is working on time-sensitive activities. 2. What do you think is biggest risk around outsourcing resources for a business analytics projects and why?The biggest risk is the loss of control that is associated with outsourcing data analytics projects. When an organization outsources a high stakes data analytics projects to a third party entity, there exists doubt on whether the project will be properly executed with regard to quality standards and if it will be delivered on time.

This also includes security concerns; will the organization’s data be safe in the hands of third party firms? Can the analytics firm be trusted with confidential data? 3. From your past and current experience, what would you consider first before you make a decision to outsource resources for a business analytics project and why?My first consideration would be on the eligibility of the analytics project for outsourcing, with careful regard of the current circumstances, requirements, expectations, cost and nature of the project.

Some projects may not be worth outsourcing if they can be properly executed internally, these can be done by the organization’s employees. Others may have lower returns than the value of investment if outsourced; these can also be developed internally. Lastly, the nature of the project and its requirements may necessitate the use of skills and services that can only be obtained in an outsourced environment.