There has been a lot discussion lately about the relative pros and cons of outsourcing analytics. The biggest perceived con are that an outsourced analyst might not have the necessary business knowledge to pose the right questions or to clearly identify threats and opportunities.
However, the reality is that with the global analytics talent gap expanding at a rapid pace, many business have no choice but to explore outsourcing options for some if not most of their analytics.
Having worked with several businesses who have successfully outsourced analytics projects and even whole teams to the Philippines, I can say that the pros far outweigh the cons. Here are a few of the pros that I can testify to:
1. Speed and Focus. Once optimized, detached team can often get more done and get it done faster as they are able to mono task.
2. Fresh Set of Eyes. Given enough time to get up to speed on things, an “outsider” to the business often can see the forest through the trees.
3. Scalability. The savings based on things like having a team that can be quickly grown or shrunk based on business need and access to labor pools with a lower cost ratio can often make a big difference when it comes to covering all the bases.
There are countless other reasons why business in the U.S. are increasing looking across the Pacific for analytics talent. The number of academic course and corporate training programs offering business analytics is growing rapidly here in the Philippines.
As key players in the BPO industry here in the Philippines look to meet many of the analytics needs of companies abroad, the pros will continue to outweigh the cons.
And that is exactly why I founded DMAI.