In an era where people can get nearly anything they want with the click of a button, the nature of business – and how companies are acquiring the talent they need – is bound to change.
What was once an employee-based model, where companies were expected to engage employees on a long-term basis, has instead given way to an ever-expanding, on-demand economy that allows companies to acquire highly specialized skills when needed without increasing their headcount.
“Employees” now consist of a pool of talented professionals that companies can draw from on numerous platforms, where workers create a profile highlighting their experience and submit bids on relevant projects. Encompassing a wide variety of professions – from consultants and designers to handymen and carpenters – the on-demand economy shows no sign of slowing down.
Indeed, 162 million people in the U.S. and EU – around 20 to 30 percent of the workforce – are working in the on-demand economy, according to research from the McKinsey Global Institute. Intuit and Emergent Research forecast that the number of people working on-demand jobs will grow from 3.9 million Americans to 7.7 million in 2020, and 9.2 million by 2021.
While the on-demand economy has proven to be beneficial for both workers and companies across industries, it is particularly advantageous for businesses looking to capitalize on their data – an asset that is utterly essential for staying relevant and competitive in today’s data-driven marketplace.
Traditionally, companies would have to hire a team of data analysts, data engineers, and data scientists and allocate resources to a whole department in order make meaningful progress on their data infrastructure. In the on-demand economy, however, companies can now turn to on-demand services for their data needs, saving them both time and money without having to compromise on quality.
In fact, by the very nature of the on-demand economy, the most successful “freelance” workers are continually updating their skillsets to meet the changing demands of the business world – all on their own time and dollar, thus saving companies from in-house business costs.
At Treehouse Technology Group (TTG), we become our clients on-demand data technology team (Data TAAS). We provide our clients with rapid, value-added results that they can only achieve by leveraging our specialized experience. From automating excel reports, to creating fully interactive dashboards, to machine learning, we save our clients money and quickly advance their data infrastructure, without the headache of trying to do it on their own.
Companies that aren’t utilizing their data effectively or are relying on outdated systems of data collection and management (like excel) are at a significant disadvantage from their competitors. Consider this: a strong organization can generate up to 70% more revenue than an average organization based purely on the quality of its data, according to a report from SiriusDecisions. Furthermore, a company with $35 million in revenue can have a yearly savings of $1.8 million from investing in data quality.
While the data revolution has been underway for many years, the value of a company’s data is only beginning to be realized. Treehouse Technology Group’s on-demand TAAS data services allow businesses both large and small to get the most from their data in a quality-ensured, cost-effective and time sensitive way.