With the digital revolution taking on the world, database tasks have become more laborious. These require skills, expertise, and cross-functional knowledge. And if you run an e-commerce company, your reliance on data can be tremendous. A small organization can have only one or two databases to manage. However, the requirement drastically changes with medium and large companies, which have to deal with many databases and database assistants for support. At that time, they may have to decide between building an in-house database administrator team and outsourcing the database administration work to any credible third-party service provider.
The pandemic has pushed the market toward economic volatility. Everyone has become cost-sensitive and is looking for reasonable measures without compromising efficiency. In that scenario, outsourcing seems to be an appropriate option for them for various reasons. And what is most surprising is that smaller companies are also showing an interest in remote database administration to outdo the competition. That perhaps explains why experts believe that the outsourcing industry can evolve to be $405.6 billion by 2027.
If you own an online store and are wondering about its benefits for your business, you can go through some of the cutting-edge uses of this new system to gauge your opportunities.
The benefits of using third-party database administration services
Productivity
The spurt of online shopping behavior has changed the trajectory of e-commerce segments. The teams can feel overworked due to the sudden migration of people from offline to online mode. When you use remote services, you essentially reduce their stress. However, your databases and applications remain fully accessible all the time, allowing your people to work on their products.
Core competency
When you shift your pressure to a vendor, you create room and save time to focus on improving your customer experiences by adding more products, providing a seamless navigation experience, easy payments, etc. All these components can be critical for your company’s success.
Insights and support
The E-commerce space is exceptionally competitive. To stay ahead of others, you need to make crucial decisions, which require reliable data. When you let an agency manage this, you can get valuable insights and support to improve your strategies. You can think of sales profitability and demand measurement, for example.
As an online store, you would need analytics to track sales performance and optimization. It becomes possible because database administration services like RemoteDBA.com compile data into one place, doing away with silos. With the correct tool, you can explore all the data, figure out patterns, map them with sales data, and spot the outliers. As a result, you can get a total sense of sales analysis, including transaction, mode of payment, payment details, demographics, use of promotional offers, return queries, the status of the refund, etc. At the same time, out-of-stock items can dent your sales opportunity. It can be unpleasant for your buyers also. With an analytic system, you can estimate the demand for different things based on the old trends and reduce your opportunity expense.
Affordability and efficiency
Deloitte’s report suggests that the main reason behind DBA outsourcing is cost reduction. When you rope in an agency, you don’t have to spend money on hiring and training your DBAs. The agency professionals can address all your database needs for a fraction of a cost. Like others, you can also focus on bringing down your price while enhancing service quality. For example, you can consider another critical area in the e-commerce space – supply chain and inventory management. As mentioned, social distancing and lockdowns became an impetus for people to opt for online shopping. While it can be an optimistic scenario for online shopping stores, you cannot deny that it has also increased the risk of crisis or shortage.
An online store operator nowadays uses an omnichannel strategy to fuel demand. To keep pace with that, they depend on agile supply chains and reverse supply chains to ensure fast delivery of purchased items and flexible returns. For this, the supplier network has to be enormously potent. With the help of remote database administration, retailers can make a replicable framework for vendor evaluation based on different factors, such as lead time, hygiene, credit rating, cost-margin, and others. A solid and secure system can alert you when a supplier fails to satisfy any specific standard, or their return policies are not attractive for customers.
In this context, optimizing inventory can be another angle for forecasting solutions. You can rely on them to understand demands through a statistical representation of data across various outlets. From procurement analytics to supplier effectiveness, you can view everything to make critical sourcing decisions.
What to expect when you tie up with an agency?
Maintaining and monitoring a database is a lot of work that cannot happen without expertise. The tasks can be multifaceted, from indexing to re-indexing, tuning to troubleshooting, and securing to updating. To ensure a smooth handling of these and other database-related tasks, you need to seek the help of an experienced and advanced DBA. They should be able to outdo competition for you with their skill and promptness. From SQL Server to on-premise or cloud-based database administration services, they should be an expert in everything. Plus, their technologies have to be so advanced that they can customize different solutions for your needs. Also, if you have to migrate your system to a new platform, the agency needs to ensure safe and secure transitioning without losing any data in between.
Everyone knows the amount of data an e-commerce business deals with in their entire journey to measure customers’ expectations and demands and establish the right processes to help them have a fulfilling experience. All these decisions require dynamism as online shopping and the competition have grown manifold. Amidst that scenario, it makes sense to improve your database capabilities. Since building an in-house team involves ongoing and higher costs, you can take the path of outsourcing. It wouldn’t cost much. Then, fortunately, this field has no shortage of remote service providers. You can get in touch with one of them, specify your challenges and expectations, and get adequate solutions to grow your business seamlessly.