How to Use Data as a Service (DaaS) Tools in Your Marketing Analysis

Data as a service (DaaS) is becoming increasingly popular. New advancements in cloud computing technology have made remote, cloud-based data storage and management easier to use and more accessible.

Businesses using DaaS platforms can see improvements in data collection, usage, and management. Additionally, offloading data management to DaaS companies means more internal capacity for business development.

Interested in getting started with a DaaS platform? Below, we’ll outline the benefits, solutions, and tools you can use to improve your data management strategies.

What Is Data as a Service (DaaS)?

Data as a service uses a cloud computing strategy to make business data readily available to stakeholders and third parties.

DaaS functions similarly to software as a service (SaaS), which removes the need for managing and downloading software locally. Unlike SaaS, which has been popular for the last decade, DaaS has only recently seen widespread adoption, primarily due to advancements in cloud computing technology.

Now, with low-cost cloud storage and bandwidth and cloud-based platforms explicitly designed for DaaS available, more businesses are moving their data storage out of local servers and into the cloud.

With DaaS services, businesses are no longer tied to local servers and storage systems, allowing them to securely store and access data remotely, collaborate with global partners, and find important business insights to drive new growth.

To put it simply, by using DaaS, you can access critical business data from anywhere at any time.

On the Gartner Hype Cycle, data and analytics services have already reached the Plateau of Productivity, showing their staying power in the market.

data as a service gartner hype cycle graph

What Are the Benefits of Using Data as a Service Tools?

Businesses of all shapes and sizes can benefit from using data as a service tools.

Here are a few ways data as a service tools can improve your current data management processes:

Remote collaboration: DaaS allows partners in different locations to collaborate because employees can easily access the data from their devices regardless of location.
Seamless data access: Cloud storage also means team members don’t need to go into the office to download a file or check their analytics, saving individual employees valuable time and energy.
Simple setup: Businesses that adopt these platforms can begin storing and processing their data immediately, with very little setup time.
Crash protection: Cloud infrastructure is less likely to crash than traditional storage methods. This makes working on a DaaS server more secure and less prone to complications.
Improved financial reporting: Data as a service also improves financial reporting as businesses can convert IT costs from capital expenditures into operational expenditures.
Cost-effective: DaaS solutions are more cost-effective, allowing businesses to direct money where it’s most needed. Automated maintenance further alleviates internal management needs.
Insights and improvements: With features like data marketplaces, businesses can buy, sell, and trade data to drive new business growth. Each platform offers different insight and optimization methods to improve overall data management.

Who Benefits Most from DaaS Tools?

Data as a service is beneficial to any business model informed by data.

Whether you’re a marketing company focused on improving consumer insights or a product-based company with a global distribution process, there are many ways to leverage these exciting cloud-based services.

For example, if a company regularly tracks, mines, stores, and implements data insights, they can benefit from DaaS.

Or, if the business’s success is dependent on being aligned with customer needs and product offerings, data services can give important insights into improving this alignment.

Companies with remote teams can benefit from DaaS tools because they allow easy access to data from anywhere in the world.

DaaS also minimizes the need for in-house data management, which is a good strategy for companies looking to divert resources to other departments.

Additionally, companies that want access to data-backed analytics to improve internal processes or enhance customer relations can also benefit from this service.

Data collected by RocketSource has shown one of the greatest benefits of DaaS is improved customer experiences. This is due to the ability of these platforms to simplify data management both internally and externally.

For businesses, DaaS tools make it easy to understand and optimize decisions and campaigns. For customers, it can result in more tailored experiences overall.

Using DaaS Tools in Your Marketing Analysis

Data as a service tools give businesses the ability to segment unique data sets generated from Big Data. This information can be collected from six specific categories:

web mining: data compiled by mining the open internet
search information: data compiled from browser activity and intent behavior
social media: data compiled from shares, comments, check-ins, and other actions taken on social media
crowdsourcing: data collected from the public through surveys, polls, forums, and so on
transactional: data created from financial, logistical, and other such business practices, including withdrawals, deposits, insurance claims, flight reservations, and more
mobile: data compiled from apps and services working in the background of mobile phones

The ability to collect, analyze, and store all of this user-specific data is a huge advantage to marketers, allowing for more cohesive and clear market research.

Here are a few ways you can use this data to improve your marketing tactics:

Benchmarking Reports

DaaS makes comparing your performance against competitors easy. With simple, global access to organizational data, marketers can create benchmarking reports to gather data on financials, turnover, and leadership efforts and back everything up with percentile breakdowns. Workday is one data as a service provider offering exceptional benchmarking tools.

Business Intelligence Sharing

Data as a Service tools make data standardization easy by bringing together data sources and analytics with unique data visualizations. Companies can then offer this data to internal users to help facilitate business intelligence processes.

Access to Data Marketplaces

DaaS tools can give businesses access to data marketplaces where users can buy and sell different data sets from multiple sources. This data can then be repurposed and monetized for future business growth.

Consumer Research

Many data as a service platforms offer consumer insights and research options. These insights can alleviate internal research for marketing teams and give more refined solutions to improving consumer relationships.

How to Pick the Right DaaS Tool for You

Getting set up with data as a service is relatively simple, as most setup and preparation work is done through the service rather than on-site.

Most DaaS providers offer technical support solutions that alleviate this management from the business side.

How to Pick a DaaS Tool

Consider your business needs. Depending on your size, growth goals, and team, you may need different features in a data as a service tool.

Points to consider when choosing a data as a service tool are:

price
scalability
reliability
flexibility
infrastructure integrations
team access requirements
existing workflows and needs

Once you have these points laid out, it’s time to choose a data as a service tool and get your business signed up.

7 Great Data as a Service Tools

1. Snowflake

Snowflake offers data engineering, data lakes, data applications, data warehouses, and data sharing. Some of their biggest value propositions include unlimited scale, seamless access across clouds, and near-zero maintenance. Snowflake is a good choice for large, international businesses needing scalability and high-security features.

2. SAP HANA Cloud

SAP HANA Cloud is the cloud-based data foundation for SAP Business Technology Platform. It integrates data from across its enterprise system, creating live data solutions. This DaaS platform offers a low total cost of ownership and high processing performance through hybrid multimodal transactions. Real-time analytic processing allows for quick, data-backed decisions. SAP HANA is best for businesses already working in the AP Business Technology Platform.

sap hana data as a service program on computer screen

3. Oracle

Oracle is the world’s leading converged, multi-model database management system. It offers NoSQL and MySQL databases, simplifies recreational database access, and reduces internal management workloads. Oracle boasts high-level performance, scalability, and availability for its clients. This DaaS tool is optimal for businesses looking for a hands-off approach to data management.

4. Kantar Marketplace

Kantar Marketplace is a data as a service platform designed to deliver market research insights to marketers and agencies. Their platform includes insights into ad testing and development, consumer and retail trends, product development, media planning and effectiveness, and provides custom survey options.

5. D&B M-DaaS

The dun & bradstreet M-DaaS: Master Data as a Service platform allows companies to integrate master data into native workflows seamlessly. Pre-mastered commercial content is delivered through a consistent and dependable platform, allowing brands to improve their master data management programs. This tool is a good choice for large or legacy companies with complex, large data sets to manage.

6. Refinitiv

Refinitiv is a data as a service platform providing risk intelligence data for financial institutions. They offer a centralized view of the legal entity of a company, supplier, or issuer so entity relationships and risks can be easily identified and managed. Regulatory compliance and requirements are the backbones of this service. Refinitiv is an excellent choice for businesses with high compliance requirements and diverse entity partnerships.

7. Dynata

Dynata is the world’s largest first-party data and insights platform, reaching over 62 million consumers and business professionals worldwide. Their service offers real-time feedback loops so marketers can understand what’s working and what’s not. Dynata is driven to maximize ROI at every stage of a campaign for continuous optimization.

How to Use DaaS Tools in Your Marketing Analysis

In Your Competitor Benchmarking Reports:
You can use DaaS tools to gather benchmarking data based on competitors.
In Your Business Intelligence Sharing:
You can use DaaS tools to get images of your brand’s performance across data points.
In Data Marketplaces:
DaaS tools buy and sell audience data from multiple marketplaces.
In Consumer Research:
DaaS tools can offer consumer insights.

Conclusion

Data as a service platforms allow for cohesive and accurate data management that can be accessed anywhere, anytime.

DaaS can also alleviate some internal management and IT needs, allowing businesses to move budgets towards more profitable markets and employees to focus on big picture issues.

Internal platform insights from DaaS platforms can be beneficial to marketers looking to improve consumer research and optimize existing data sets.

With improved data visualization, storage, access, and consumer data insights, data as a service offers growth and ease to partners and affiliates alike.

Once you have a DaaS system in place, you can start levering the data and investing in your marketing strategy. Let us know if we can help you reach your audience!

What excites you about data as a service?

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A/B Testing: Definition, How it Works, Examples & Tools

A/B testing is a fantastic method for figuring out the best online promotional and marketing strategies for your business. It can be used to test everything from website copy to sales emails to search ads. While it can be time-consuming, the advantages of A/B testing are enough to offset the additional time it takes. Well-planned …

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Berkshire Chooses Greg Abel as Warren Buffett's Successor in CEO Role

The choice of Mr. Abel to eventually lead Berkshire Hathaway answers a question that had hovered over the firm for decades.

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A/B Testing: Definition, How it Works, Examples & Tools

Well-planned tests can make a huge difference in the effectiveness of your marketing efforts. Narrowing down the most effective elements of a promotion and then combining them, can create a far more effective marketing plan.

What is A/B Testing and Why Does it Matter?

A/B testing is a marketing strategy that pits two different versions of a website, ad, email, popup, or landing page against each other to see which is most effective.

For example, you might test two different popups to see which drives more webinar sign-ups or two different Google Ads to see which drives more purchases.

On my own site, I spent time A/B testing my popup to find out what encouraged users to engage with my brand.

Over time, we found offering a free website analysis (which provides tons of value) was the most effective way to establish expertise and show visitors the value we offer.

Why is A/B Testing Important?

Accurate A/B tests can make a huge difference to your bottom line. By using controlled tests and gathering empirical data, you can figure out exactly which marketing strategies work best for your company and your product.

When you figure that one variation might work two, three, or even four times better than another, the idea that you would run promotions without testing starts to seem a bit ludicrous.

When done consistentyly, testing can improve your bottom line substantially. If you know what works and what doesn’t (and have evidence to back it up) it’s easier to make decisions and craft more effective marketing strategies.

Here are a few other benefits to running regular tests on your website and marketing materials:

Helps You Better Understand Your Target Audience: When you see what types of emails, headlines, and other features your audience responds to, you can better understand who your audience is and what they want.
Higher Conversion Rates: A/B testing is the single most effective way to increase conversion rates. Knowing what works and what doesn’t gives you actionable data that can help you streamline the conversion process.
Stay On Top of Changing Trends: It’s hard to predict what type of content, images, or other features people will respond to. Testing regularly helps you stay ahead of changing consumer behavior.
Reduce Bounce Rates: When site visitors see content they like, they stay on your site longer. Testing to find the type of content and marketing materials your users like will help you create a better site — and one that users want to stay on.

How Do You Plan an A/B Test?

The first thing to do when planning an A/B test is to figure out what you want to test. Are you running an on-site test, or an off-site test? If you’re running an on-site test, you’ll want to think of all the sales-related pieces of your website, and then figure out which elements to test.

For example, you might test:

headlines
calls to action text
calls to action location
pop up
featured images
copy
the number of fields in a form

With off-site tests, you’re probably testing either an ad or a sales email. Testing ad copy to see which ad drives more conversions can help you focus your advertising efforts. Once you know your ad is converting as well as possible, it’s easier to justify spending more money on it.

The same goes for emails. If you send out two versions to your list (randomly selecting which half gets which email), and then track which one converts better, you can send only that version the next time.

Once you know what you’ll test, make a list of all the variables you’ll test. For example, if you’ve decided to test your call to action, you might test:

the location
the exact text used
the button color or surrounding space

It’s a process, and it’s common for multiple A/B tests to be carried out prior to making a final decision or final change.

Before you start testing, make sure you have a clear idea of the results you’re looking for. You should already know your baseline result, which is the results you’re currently getting. You want to test option A and B against each other, but you also want to know that whichever one does better in the test is also doing better than your current results.

Alternatively, you can use A as your control (leaving whatever you’re currently using) and then use something new for B.

Tests need to be run simultaneously to account for any variations in timing. You can’t test one variation today and the other one tomorrow, because you can’t factor in any variables that might have changed between today and tomorrow. Instead, you need to split the traffic seeing your variations at the same time.

Here’s an A/B testing checklist to review before running your first test:

Decide what you want to test.
Create two versions of the same ad, landing page, etc.
Decide how long your test will run (I suggest at least two weeks, but it may be longer or slightly shorter depending on your traffic and industry)
Chose a testing tool to help you run your test. (More on that later.)
Launch!
After two or so weeks, take a look at the results. Which version won?
Rinse, and repeat. A/B testing is most effective when done continually.

What to Use A/B Testing to Test

You can test virtually anything in your marketing materials or on your website: headlines, calls to action, body copy, images, etc. If you can change it, you can test it.

That doesn’t mean you should spend months testing every little thing. Instead, focus on changes most likely to have a big impact on traffic and conversions.

On your website, this likely includes:

the headline
your call to action
any graphic you use in direct correlation to your sales efforts
the sales copy or product descriptions
feature image

In an email, you might test the title, images, links, CTAs, or segmenting options. In a paid ad, especially a text ad (like a search ad), you have fewer things to change, and so you might test the main headline, the offer, or targeting.

Testing different offers is also important. Just make sure that each person is always offered the same promotion. For example, if a free gift is offered to group A, and a discount is offered to group B, then you want to make sure that group A always contains the same visitors, as does group B.

You can also test the full path of conversion. For example, you might test newsletter A with landing page A, and newsletter B with landing page B. Later, you may want to test newsletter A with landing page B, and vice versa.

This can give you a better idea of what is working, especially if you’re getting mixed results or if the results are very close. Here are a few other tests you can run.

How Much Time Does A/B Testing Take?

A/B testing is not an overnight project. Depending on the amount of traffic you get, you might want to run tests for anywhere from a few days to a couple of weeks. Remember, you only want to run one test at a time for the most accurate results.

Running a test for an insufficient amount of time can skew the results, as you don’t get a large enough group of visitors to be statistically accurate. Running a test for too long can also give skewed results, though, since there are more variables you can’t control over a longer period.

Make sure that you stay abreast of anything that might affect your test results, so that you can account for statistical anomalies in your results. When in doubt, run the test again.

Considering the impact A/B testing can have on your bottom line, it’s worth taking a few weeks to properly conduct tests. Test one variable at a time, and give each test sufficient time to run.

Can I Test More Than One Thing At a Time?

There are two approaches to this question. Say you just want to test your headline, but you have three possible variations. In that case, running a single test and splitting your visitors (or recipients in the case of an email) into three groups instead of two is reasonable, and would likely still be considered an A/B test.

This is more efficient than running three separate tests (A vs. B, B vs. C, and A vs. C). You may want to give your test an extra couple of days to run, so you have enough results to see what actually works.

Testing more than one thing at a time, such as headlines and calls to action, is called a multi-variate test, and is more complicated to run. There are plenty of resources out there for multi-variate testing, but we won’t be covering that when talking about A/B testing.

A/B Testing FAQs

What is A/B Testing and Why Does It Matter?

A/B testing is a marketing strategy that pits two different versions of a website, ad, email, popup, or landing page against each other to see which is most effective. It’s one of the most effective ways to increase conversion rates.

How Do You Plan an A/B Test?

Decide what to test, create two versions, decide on how long to run the test, choose a tool, then see what works!

What to Use A/B Testing to Test

Any part of a paid ad, website, or marketing material including (but not limited to) pop-ups, emails, landing pages, and featured images.

How Much Time Does A/B Testing Take?

Most tests should be run for at least two weeks, but A/B testing should be continual.

Can I Test More Than One Thing At A Time?

Yes, in some cases. In general, it is best to stick to two versions of the same asset.

What A/B Testing Tools Should I Use?

Google’s Optimize is a free, powerful A/B testing tool. Your email platform, landing page tools, or website plugins may also offer this feature. For paid tools, consider Optimizely.

Conclusion

A/B testing is a marketer’s best friend. It allows you to see, for example, what ads drive the most conversions, what offers your audience responds to, or what blog headlines drive the most traffic.

There are a variety of tools you can use to get started, including Google Optimize (which is free!) and Optimizely.

If you’re looking to get started with A/B testing, you can start by learning how to a/b test in Google Analytics.

Are you considering trying A/B testing? What is holding you back?

5 Coding Bootcamps to Help You Snag a Job In Digital Marketing

When you think of coding, your next thought probably isn’t digital marketing. It’s more likely to be UX design or software development.

Coding skills can be instrumental in digital marketing, and coding bootcamps can help set you up for a successful career.

What Are Coding Bootcamps?

Coding bootcamps are designed to give students the programming skills employers look for. Generally, between 12 and 40 weeks long, these courses aim to get students into the tech field without spending years in undergraduate school.

With the internet and software playing such an essential part in our lives, more and more skilled programmers are needed to develop and maintain the tools we need to thrive.

For the past several years, many employers have said they’ve seen skills gaps in recent graduates—that is, students are often graduating with skills that are a bit out of date.

Coding bootcamps have moved to fill that gap, designing intensive courses designed to get people ready for the current workforce in a short amount of time. In true modern fashion, many of these courses are remote, but there are also options for in-person teaching.

How Much Do Coding Bootcamps Cost?

Coding bootcamps are significantly cheaper than most undergraduate educations.

When you commit to a four-year university degree, you can expect to pay about $10,000 per year at a public school in your state—approximately $40,000 total. If you attend a private or out-of-state college, the cost rises exponentially.

Meanwhile, the average tuition for a coding boot camp is just under $14,000 for the entire program.

Bootcamps may also allow you to pay your tuition over time, and some, like Flockjay, waive your tuition if you don’t land a well-paying job after completing the program.

How Can Coding Bootcamp Help You Get a Job in Digital Marketing?

When it comes to digital marketing, you don’t have to have incredible coding skills—but they can make a big difference. The more knowledge you have about how the technology your brand runs on works, the better.

Think of it like the “required” and “preferred” skills sections on job postings. Chances are, most applicants will have nearly all of the “required” skills, but having some of the more unique “preferred” skills could help you stand out.

If you have coding as one of your skills, a potential employer knows you should be able to speak the same language as the UX and development teams. This could make things smoother for everyone, as it means at least one member of the marketing team understands what’s possible given budgets, deadlines, and other restrictions and can create marketing campaigns accordingly.

Additionally, if you’re working at a small business or start-up, it may need someone to wear multiple hats.

Regardless of your company’s size, your coding skills could help you as a marketer in various ways.

Interacting with Websites

It’s become much easier to build and run websites in recent years. With platforms such as WordPress, Shopify, Wix, and SquareSpace, you don’t need coding skills to create a functional site.

But, if you’re reliant on the in-built tools of these platforms, you don’t have the same level of flexibility. When something doesn’t work, you need external support to fix it, and any downtime is money lost.

We talk a lot in marketing about owning the medium (one of the main reasons you should have a website). When you’ve got coding skills, it’s like you’ve got greater ownership of your assets.

Working With Data

Data is essential to digital marketing. We’re constantly learning about our audience and tweaking our strategies to improve performance, which isn’t possible without understanding how to use data.

Coding and data science go hand in hand, and bootcamps courses could teach you to detect patterns in large data sets using artificial intelligence and machine learning. This way of thinking is extremely useful in digital marketing, and we already see a shift towards these technologies in the industry.

Working with data is a vital part of digital marketing, and coding skills, particularly those offered in a data science course, can be valuable.

Decisions About the Future

Digital marketing advances closely align with advances in technology. If you’re not keeping up with the latest trends in marketing, you risk falling behind. This is why businesses need innovators in their marketing departments.

When you have high-level coding skills, it not only makes you more adaptable but also means you could help shape the future of digital marketing by designing your own application and bringing new ideas to life.

Looking at the impact marketing software has on the industry, it’s clear we need people who can understand these applications on a deep level and get the most out of them.

Managing Projects

If you find yourself managing an extensive digital marketing project, you need to bring lots of people together. Some of these folks will likely be developers.

A frequent challenge in these situations is that the marketing manager doesn’t know what the developers do, making both communication and hiring challenging. How do you know you’ve got the right person for the job if you don’t know what coding or web development entail?

A coding bootcamp can mean having informed, direct input on the project management and hiring processes, giving you greater control over what’s happening.

5 Coding Bootcamps for Digital Marketers

Online education has taken off in recent years, and there are lots of great programs that could help you find a job in digital marketing. With more than six million Americans studying online, online learning of all stripes is becoming more accepted by employers than ever before.

Here are some examples of coding bootcamps that could help you land a job or expand your skills in digital marketing.

Springboard

Springboard offers a variety of online courses in analytics, design, coding, and cybersecurity. Its Software Engineering Bootcamp says you’ll be able to “become a software engineer, guaranteed.”

This is an 800-hour program, so with 20 hours of study a week, it should take you around nine months to complete. Springboard offers flexible ways of paying, starting at $8,500 if you pay upfront. There are also options to pay monthly, defer payments (paying monthly once you land a software engineering job; if you don’t get a job in six months, you don’t pay), or obtain a low-interest loan.

While Springboard focuses on software engineering, these skills are transferable to digital marketing. A big part of this program is the opportunity to work one on one with a mentor and a career coach to help guide you through your career path.

Springboard doesn’t offer success rates, but their similar Data Science Bootcamp resulted in 97% of their graduates finding jobs in their field within six months. They also gained an average salary increase of $25,800.

Key Info

courses in analytics, design, coding, and cybersecurity
$8,500 for software engineering course
option to pay when you land a job (nothing to pay if you don’t find a job within six months)
800-hour program (nine months studying 20 hours a week)
average salary increase for graduates of $25,800

Alchemy Code Lab

On average, graduates of the Alchemy Code Lab bootcamp found a related job in just 11 weeks, with a median salary of $80,000. Not bad for a 25-week program!

This full-time program is designed to get you ready for jobs in the real world. Teaching you skills in modern programming languages and development methods, Alchemy Code Lab takes six cohorts per year, with total program tuition costing $24,000.

Just as with Springboard, there are lots of different ways to pay. Choose from self-funding, Income Share Agreement (don’t pay until you get a job), and financing through partner lenders. There are also diversity-based tuition scholarships and GI Bill benefits available.

Alchemy Code Lab is based in Portland, but with a focus on the remote jobs of the future, it’s all accessible online. With solid results and 87 percent of graduates going on to work in tech, it’s been a good investment for many people.

Key Info

$24,000
flexible payment options including income share agreement
full-time study
25-week course

Flatiron School

In Career Karma’s 2020 awards, Flatiron School was named the best coding bootcamp and best online bootcamp. The school claims to launch your career, and the stats back this up: 82% of grads land a job with an average starting salary of $69,000 a year.

Flatiron offers both in-person classes in New York City and an online program. They offer programs specializing in software engineering, data science, cybersecurity analytics, and cybersecurity engineering, each of which teaches you skills that can help in digital marketing.

The online software engineering course offers three different ways to study: full-time, part-time, and self-paced, giving students great flexibility with how they learn. The program costs $16,900 with options to pay upfront, in installments, or through a loan.

Courses begin every month, meaning you can quickly get started.

Key Info

courses in software engineering, data science, cybersecurity analytics, cybersecurity engineering
$16,900 for software engineering course
flexible payment options
full-time study, part-time study, and self-paced learning options available
82% of grads land a job, the average starting salary of $69,000 per year

Thinkful

Thinkful is a platform that prides itself on allowing you to pay only when you land a job in your career. It offers a range of tech-related subjects, including a specialist digital marketing bootcamp.

Each option has a slightly different timeframe (the full-time digital marketing course allows you to graduate in just six weeks), with the software engineering course offered as both full-time and part-time programs. The full-time option will require 50-60 hours a week and allow you to graduate in five months, with the part-time version requiring 25-30 hours a week over six months.

The courses vary in price, with the digital marketing one costing $7,500 while the software engineering bootcamp is $16,000. You also have lots of different payment options, some of which guarantee you don’t pay anything until you land a job.

Graduates have noted how Thinkful is focused on your career, which seems to translate into real-life results. Eighty-seven percent of software engineering students were offered a job within 180-days of graduating, with 27% reporting an annual base salary between $70,000 and $90,000 and 50% reporting a yearly base salary between $50,000 and $70,000.

Key Info:

courses in software engineering, data science, data analytics, UX/UI design, digital marketing, product management, technical project management
$16,000 for software engineering course
flexible payment options
full-time and part-time options
87% of grads land jobs within 180-days

Flockjay

Flockjay isn’t strictly a coding bootcamp, but it teaches similar ideas as a tech sale program. It’s more focused on the sales aspect of technology, which could be a helpful combination in digital marketing.

This ten-week program costs $6,000 for most US residents ($7,650 for California) and aims to give you “future proof” skills that are in demand now. Again, you have the option to pay zero tuition until you get a job paying at least $40,000, potentially making it an attractive investment for your career.

Flockjay provides instruction in the sales essentials and, importantly, has a strong emphasis on technology. While it’s not quite coding, it could satisfy many students interested in tech and equip them with important skills in digital marketing.

Key Info:

tech sales course
$6,000
flexible payment options
10-week program
average full-time job offer of $75,000 a year

Conclusion

Coding bootcamps could be a great alternative to four-year college degrees for students interested in technology. With payment options that allow you to pay nothing until you secure a job and courses that can be completed in less than a year, they’re a great way to propel yourself into the tech workforce.

As digital marketing is closely aligned with technology, these courses can also be an excellent way to snag a job in digital marketing. These skills are in demand in so many industries, so the main point is that you’re opening all kinds of doors for yourself.

You may not go into a coding bootcamp to become a digital marketer, but you may find digital marketing is a career you’re perfectly suited for.

Have you tried a coding bootcamp?

The Muse (YC W12) Is Hiring a Product Designer

Article URL: https://www.themuse.com/jobs/themuse/product-designer-employer-squad

Comments URL: https://news.ycombinator.com/item?id=27023965

Points: 1

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Rainforest (YC S12) Is Hiring Senior Engineers, Globally and Remote

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How to Read a Dun and Bradstreet Report

What’s in a Dun and Bradstreet Report? And What Do All Those Numbers Mean, Anyway?

Do you have a copy of your Dun and Bradstreet report?

What is Dun and Bradstreet?

They are the oldest and largest credit reporting agency. You need a D-U-N-S number to start building business credit. No D-U-N-S number? Then get one; they’re free. This number gets a business into their system.

The main score is PAYDEX. But a business will not get a PAYDEX score, unless it has at least 3 trade lines reporting, and a D-U-N-S number. A business must have both to get a D&B score or report.

Dun and Bradstreet Reports

D&B offers database-generated reports. These help their clients decide if a business is a good credit risk. Companies use the reports to make informed business credit decisions and avoid bad debt. Several factors enter into creating such a report.

In general when D&B does not have all of the information that they need, they will say so in their reports. But missing data does not necessarily mean a company is a poor credit risk. Instead, the risk is unknown.

D&B’s database contains over 350 million companies around the world. It includes millions of active firms, and over 100 million companies which are out of business. But these are kept for historical purposes. This data goes into their reports.

D&B constantly gathers data. They list over a billion trade experiences. It works to improve its analyses to assure the greatest degree of accuracy possible. To ensure as accurate a report as possible, give D&B your company’s current financial statements.

Predictive Models and Scoring

D&B takes historical information to try to predict future outcomes. This is to identify the risks inherent in a future decision. They take objective and statistically derived data, rather than subjective and intuitive judgments.

You can find a sample report here: dnb.com/content/dam/english/dnb-solutions/risk-management/sample_comprehensive_report.pdf .

Dun and Bradstreet Report Sections

Here are the sections you could currently see in a typical Dun and Bradstreet business credit profile report.

Executive Summary

The report starts with basic company information, such as number of employees, year the business was started, net worth, and sales.

D&B Rating

This rating helps companies quickly assess a business’s size and composite credit appraisal. Dun & Bradstreet bases this rating on information in a company’s interim or fiscal balance sheet plus an overall evaluation of the firm’s creditworthiness. The scale goes from 5A to HH. Rating Classifications show company size based on worth or equity. D&B assigns such a rating only if a company has supplied a current financial statement.

The rating contains a Financial Strength Indicator. It is calculated using the Net Worth or Issued Capital of a company. Preference is to use Net Worth. D&B will show if a business is new or if they never got this information.

This section also adds a Composition Credit Appraisal. This number runs 1 through 4, and it reflects D&B’s overall rating of a business’s creditworthiness.

The scores mean:

1 – High
2 – Good
3 – Fair
4 – Limited

A D&B rating might look like 3A4.

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D&B PAYDEX

This part shows two gauges: an up to 24 month PAYDEX, and an up to 3 month PAYDEX. Hence you can see recent history and a firm’s performance over time.

Both gauges have the same scores. A 1 means greater than 120 days slow (in paying bills). A score of 50 means 30 days slow. One great score is 80, which means prompt. And 100 means anticipates. A 100 is the best PAYDEX score you can get.

PAYDEX Score

This is Dun & Bradstreet’s dollar-weighted numerical rating of how a company has paid the bills over the past year. D&B bases this score on trade experiences which various vendors report. The Score ranges from 1 to 100. Higher scores mean a better payment performance. PAYDEX scores reflect how well a company pays its bills.

Predictive Analytics

This next section shows likelihood of business failure. It also shows how frequently a business is late in paying its financial obligations. These are comparative analyses, the Financial Stress Class, and the Credit Score Class.

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Financial Stress Class

Overall numbers range from 1 to 5. A 1 is businesses least likely to fail, and 5 is firms most likely to fail. The Financial Stress Class measures likelihood of failure.

Financial Stress Class Score

These more granular scores range from 1,001 to 1,875. A score of 1,001 represents the highest probability of business failure. A figure of 1,875 shows the lowest probability of business failure.

Credit Score Class

The Credit Score Class measures how often a company is delinquent in paying its bills. Overall numbers range from 1 to 5. A 1 is businesses least likely to be late. 5 is firms most likely to be late making payments. More granular scores run from 101 to 670. 670 is the highest risk.

Credit Limit Recommendation

It shows a spectrum of risk. Your risk category can be low, moderate, or high. Risk is assessed using D&B’s scoring methodology. It is one factor used to create the recommended limits.

D&B Viability Rating

This section contains:

Viability Score – to show risk
Portfolio Comparison – also a demonstration of risk
Data Depth Indicator – descriptive vs. predictive
Company Profile – this shows if financial data and other information was available

Credit Capacity Summary

This part repeats the D&B Rating above. It includes financial strength, the composite credit appraisal, and payment activity.

Business History and Business Registration

This section contains information on ownership. It also shows where a corporation is filed (i.e. which state). This includes the type of corporation, and the incorporation date.

Government Activity Summary and Operations Data

This section gives basic information on if a company works as a contractor for the government. It also shows the kind of business a company is in. It shows what the facilities are like, including general data on its location.

Industry Data and Family Tree

The section shows the business’s SIC and NAICS codes. It also shows where the branches and subsidiaries are. This list is just the first 25 branches, subsidiaries, divisions, and affiliates, both domestic and international. D&B offers a Global Family Linkage Link to view the full listing.

Financial Statements

This section is for the financial statements D&B has on a business. It shows assets and liabilities, with specifics such as equipment, and even common stock offerings.

Indicators and Full Filings

This part shows public records, like judgments, liens, lawsuits, and UCC filings.

This part also breaks down where filings are venued, like the court or the county recorder of deeds office. It shows if judgments were satisfied (paid). It also shows which equipment is subject to UCC filings.

Commercial Credit Score

This part shows the Credit Score Class again. It also shows a comparison of the incidence of delinquent payments. Also, it includes key factors to help anyone reading the report interpret these findings. It explains what the numbers mean.

Credit Score Percentile Norms Comparison

Here, D&B compares a company to others on the basis of region, industry, number of employees and time in business.

Financial Stress Score

This section shows a Financial Stress Class and a Financial Stress Score Percentile. The Financial Stress Class runs from 1-5, with 5 being the worst score.

Financial Stress Score Percentile

The Financial Stress Score Norms calculate an average score and percentile for similar firms. The norms benchmark where a business stands. This is in relation to its closest business peers.

It is a comparison to other businesses. The percentile contains a Financial Stress National Percentile. The Financial Stress National Percentile reflects the relative ranking of a company among all scorable companies in D&B’s file. It also contains a Financial Stress Score. The report indicates the probability of failure with a particular score.

Keep your business protected with our professional business credit monitoring.

Financial Stress Score Percentile Comparison

The idea behind this score is to predict how likely it is a business will fail over the next 12 months. The Financial Stress Class indicates that a firm shares some of the same business and financial characteristics of other companies with this classification. It does not mean the firm will necessarily experience financial stress. The probability of failure shows the percentage of firms in a given percentile that discontinue operations with loss to creditors.

The average probability of failure is based on businesses in D&B’s database. It is there for comparative purposes. The Financial Stress National Percentile reflects the relative ranking of a company among all scorable companies in D&B’s file. The Financial Stress Score offers a more precise measure of the level of risk than the Financial Stress Class and Percentile. It is meant for customers using a scorecard approach to determining overall business performance.

Advanced PAYDEX + CLR

This section repeats the 24 month and 3 month PAYDEX gauges. It also includes a repeat of the Credit Limit Recommendation. There is also a PAYDEX Yearly Trend. It shows the PAYDEX scores of a business compared to the Primary Industry from each of the last four quarters.

PAYDEX Yearly Trend

The PAYDEX Yearly Trend is a graph. It includes detailed payment history. with payment habits and a payment summary. This helps show if a business pays its bigger bills first or last.

Dun and Bradstreet: Takeaways

A Dun & Bradstreet business credit report has an impressive level of detail. The idea is to make it easier to decide if it’s a good idea to extend credit to another business. And your own company’s report can help show you where you can improve your payment history, and how your firm compares to similar businesses.

The post How to Read a Dun and Bradstreet Report appeared first on Credit Suite.

Can the Best Hard Money Lenders Make this Form of Business Funding Worthwhile?

What are the Best Hard Money Lenders, and is Hard Money Lending Worth It?

Even the best hard money lenders can be problematic. Read on to find out more.

Hard Money Lenders and Hard Money Funding

If you’re looking to flip houses, you may have heard these terms. But what is hard money funding, and can it work for you?

Hard Money Funding: What Is It?

Hard money loans are asset-based loans that can fund any real estate investment. These loans are based on the property value. There is no need for background checks or credit scores. Some lenders even offer hard money loans based on the after-repair value of a building. Hard money lenders make finance house flipping with their asset-based loans.

Hard Money Funding: Positives

Since it’s based on the real estate value (before or after repair), a borrower with poor credit can get these loans. Hard money loans are fast, sometimes even within 24 hours of application.

Hard Money Funding: Negatives

Interest rates can be very high, as in three times that of banks. Terms can be very short, as in 6 – 18 months, versus a standard 30-year mortgage.

Plus a hard money lender wants you to have some skin in the game, typically at least 10% of your own money. That way the lender knows their interests are protected, because you don’t want to lose your money. Hard money loans also tend to not be subject to consumer lending regulations. So, caveat emptor.

How is Hard Money Funding Used?

If you go ahead with hard money funding, its use is virtually always for real estate projects. These are either house flipping, or real estate investments.

Fix and Flip Loans

House flipping consists of buying a property, repairing it, and selling it for a profit. Fix and Flip loans are one of the most common types of hard money loans. For house flippers, having fast funds for their flips is a necessity. These hard money loans are made for house flippers looking to flip a property by making some upgrades and selling it for a profit.

Fix and flip loans are short term loans (6 – 12 months) covering almost all the house flipping costs. Hard money funding is not only used to cover the property value of the building. It also pays for a portion of the repairs needed to flip. For example, some hard money lenders even offer to base the loan on the after-repair value of the flip. This gives the house flipper more funds to flip with from fix and flip lenders.

Demolish your funding problems with 27 killer ways to get cash for your business.

Long Term Rentals

House flippers don’t always sell the buildings they repair. Many make passive income by renting their properties. For those looking to acquire and upgrade large rentals, hard money funding is essential. This type of flipper financing lends on the underlying asset of the property.

To make the most of long-term rentals, upgrading and repairing the property is necessary. Here, hard money loans are based on the after-repair value of the property. House flipper funding for large one-time repairs to a property helps improve the property for higher rents. It also helps to offset the cost of the repairs.

Vacation Rental Flips

With alternative rental sites like Airbnb becoming more and more popular, house flippers are looking into flipping vacation rentals with hard money loan lenders. Vacation rentals can turn over large profits but many will require large repairs to get more bookings. These repairs and modern upgrades are necessary to ensure solid bookings throughout the year. Using hard money funding to make upgrades is faster than using a traditional lender. Like all flipper financing, the loan is based on property value and not the applicant’s credit history.

Home Rehabs

Paying cash for a property is a great way to lower costs for a property. But it leaves gaps for funding repairs. Home rehabs are ideal for one-time large repairs. This can be for a flip that they bought in cash, a rental, or anything in between.

Often when looking to charge more in rent, house flippers will add amenities and upgrades to their properties. Home rehabs can also be for investors looking to sell off property and maximize their return by adding a few upgrades. With only using flipper financing for the repairs, the house flipper can save money on down payments. This means a larger profit margin via hard money lending. Hard money funding can be a way to make sure projects finish on time.

Hard Money and Bridge Loans

Sometimes house flippers need to refinance properties to prevent foreclosures, get better rates, or get more cash to finish their flip. Bridge loans, a special type of flipper funding, can help flippers complete their projects to save them from foreclosure. Bridge loans work to ‘bridge’ cash gaps for a property. This cash is used to finish the flip, sell the property, or prevent foreclosure.

Hard Money, Bridge Loans, and Foreclosures

Sometimes, house flippers will use hard money loans to buy foreclosed properties. This makes them a great option for someone looking to pounce on a great deal in the fast-moving real estate market. Sometimes bridge loans fund short sale loans, or even the acquisition of off-market properties. They can help you get a hard money loan for auction property.

Hard Money and Refinancing

Reasons for refinancing include to prevent foreclosure, fill in cash flow, or make sure a project is done on time. Hard money funding can help with all of these issues. This type of funding works for house flippers who need a one-time influx of capital.

Hard Money Funding: Beyond the Flip

Hard money funding can be used for more than flips. It can also be used for commercial real estate financing. This is for commercial properties such as retail stores. Note: hard money loan rates will vary.

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Options Beyond Hard Money Lenders and Funding

Flippers and commercial real estate investors have choices beyond hard money loans. They can try a home equity loan for flipping, or an investment property line of credit for real estate investments. Another option is a business line of credit.

Yet another option is a cash out refinance loan, or a permanent bank loan/online mortgage. Rates and terms will vary. But for great rates, have you checked out what Credit Suite has to offer?

Check Out Commercial Real Estate Financing from Credit Suite and Connect to Hard Money Lenders

Amounts range from $100,000 – $20,000,000. This financing can be used for refinancing a property, even if you are doing a cash-out refinance. Maximum LTV 70%.

Loan-to-values range from 55 – 65%, depending on the purpose of the loan. Plus your clients can also get SBA loans. Renovations get loan to value of up to 60%.

Credit Suite has funding programs available including conventional property financing, money for investment properties and hard money loans, bridge loans and loans for the purchase of commercial real estate.

Commercial Real Estate Financing for All Types of Buildings

Credit Suite offers financing for many different, even unique property types. Get funding for industrial offices (general or medical/dental), light manufacturing buildings, self-storage facilities, and more.

Demolish your funding problems with 27 killer ways to get cash for your business.

Details on Credit Suite’s Commercial Real Estate Financing Program

Approval amounts go up to $20,000,000. Bad credit is accepted. Use the real estate as collateral. You will need to provide bank statements. House reseller financing or a commercial real estate loan can be a big step, let’s take it together.

The Best Hard Money Lenders? The Jury is Still Out on Whether This Form of Funding is the Best Idea

Hard money funding can be a good choice for house flippers and commercial real estate investors who have bad credit or want/need to get money fast. But interest rates can be high, and terms can be short. Plus there is little regulation. Credit Suite can help you get funding for commercial real estate or house flipping, with better rates and terms than you would expect.

The post Can the Best Hard Money Lenders Make this Form of Business Funding Worthwhile? appeared first on Credit Suite.