Outsourcing in business analysis.

The IT outsourcing market.

The IT outsourcing market implies the conclusion of external contracts for the performance of IT functions, services or projects instead of relying on the company's own resources.

By outsourcing IT tasks (for example, to IT service providers or software developers), enterprises can focus on their core functions and save internal resources and costs (for example, office space, maintenance and utilities).

In this way, outsourcing teams are becoming a viable cost reduction strategy in an environment where companies are looking to save money more than ever.

IT outsourcing in the world.

In recent years, the IT outsourcing market has been growing rapidly worldwide. According to forecasts www.statista.com. In 2024, revenue in the IT outsourcing market will reach 541.10 billion US dollars. It is expected that by 2029 the market volume will amount to 812.70 billion US dollars.

Many companies prefer to outsource their IT services to countries with lower cost of living and labor costs. This allows them to save money, but at the same time receive high-quality services.

However, recently there has been a tendency to increase the share of outsourcing within countries, as companies seek to reduce the risks associated with outsourcing services abroad.

In addition, companies are increasingly turning to IT outsourcing providers that offer specialized services such as cybersecurity or cloud computing.

How is this related to BI analytics in Moldova?

In Moldova, as in many other countries, there is an increase in interest in business analytics (BI), which is confirmed by Statista's forecasts of revenue in the business intelligence software market, which will reach US$ 2.91 million by 2024. By 2028, the market is expected to grow at an annual rate (CAGR 2024-2028) of 8.48%, reaching a volume of 4.03 million US dollars.

Moldovan companies prefer cloud-based software solutions for business intelligence due to their ease of use, scalability and cost-effectiveness. Cloud solutions are especially beneficial for small and medium-sized enterprises (SMEs), which may not have enough resources to invest in on-premises solutions.

In addition, companies are looking for solutions that can integrate with their existing systems and provide real-time data analysis.

In the structure of expenses for the implementation of business intelligence solutions, labor costs (Wages, taxes, equipment, workplace organization) can reach 90% of all expenses for the implementation, support and development of business intelligence in the company.

IT outsourcing helps to save up to 50% of labor costs, while receiving high-quality services.

IT outsourcing and Power BI.

In 2024, the outsourcing of Power BI development will undergo significant changes due to the need for more sophisticated data analysis and visualization tools. As organizations continue to face the challenges of digital transformation, the demand for Power BI professionals has increased dramatically, leading to a marked trend towards outsourcing these services.

### Outsourcing efficiency

Organizations use outsourcing to attract global human resources, striving for efficiency, innovation and sustainable development.

This approach allows companies to use the expertise of specialized Power BI developers without having to expand their own teams.

### Integration and automation

One of the most notable trends in outsourcing Power BI development is the emphasis on integration and automation.

Companies are looking for solutions that can easily connect to various data sources, both on-premises and cloud. This facilitates efficient data extraction, transformation and loading (ETL) processes.

Automation is also a key focus, as advances in Power BI enable more complex data preparation and analysis tasks, thereby reducing manual effort and increasing accuracy.

### Artificial intelligence and machine learning

The integration of artificial intelligence and machine learning (ML) into Power BI is another trend that is gaining momentum.

These technologies extend the Power BI predictive analytics capabilities by offering deeper insights and intuitive features.

Automated trend analysis, anomaly detection, and natural language processing are becoming standard features, making data analytics more accessible to business users.

### Advanced data protection

With the increasing volume and sensitivity of data, the outsourcing of Power BI development is increasingly focusing on advanced data protection measures.

Encryption, secure access control and compliance with global data protection rules are becoming more common, ensuring the safety of data throughout the analysis process.

Conclusion

In conclusion, I would like to note that the trends in outsourcing Power BI development in 2024 reflect the desire to use technology to improve data analysis and business intelligence.

As these technologies continue to evolve, they will shape organizations' future approaches to data visualization and decision-making.

For those who strive to stay ahead of the curve, understanding and implementing these trends will be crucial to success in an ever-evolving marketplace.