There are 2 Companies in Panama
that provide Data Analysis Services!

Panama is known more for shipping, banking, low taxes, and beautiful sights. But the IT industry is not so far behind since the country is in the middle of digital transformation, and currently at the 4th stage of the “Smart Nation” project. Within this project, most of IT companies decided to settle there, and the existing ones have known successful progress. So after all, Panama is not only about taxes and beaches, but it has a developing IT sector. 

The main part of the tech sector relies on app development. Even back in 2014, Panama started to be an operational center for 250+ startups that were focused on developing apps for Google’s android, mainly. Later on, the country was a destination to set for multinational companies such as Dell, Ericsson, or ABB that continued to develop the IT industry inside the country. Panama doesn’t lack tech specialists, even if the country has ~4 million inhabitants. Since the tax policy is flexible and real estate is cheap, many skilled professionals from both Latin and North America consider Panama as a great place from where to work. 

Why working with a Panama-based IT company

Consider Panama as a non-national-based IT destination. Here, out of hundreds of IT startups and tech companies, only 30% are founded and lead by native inhabitants. The other 70% or so are international IT & software companies that relocated to a place comfortable for both workers and companies. 

In Panama, you can find the entire spectrum of IT services and companies that perform from midrange to top. Of course, these companies charge according to their service quality, but then again - try the US market and you will get extra prices for everything.  On top of everything, many Europeans found Panama as a great choice to start or continue their business. 

The local currency is equal to the USD which makes the country comfortable to work with. The average yearly salary of a web developer in Panama is ~39K USD, while the average hourly rate is ~18,8 USD. These are pretty competitive prices compared to the US or Bolivia, for example. 

What you should pay attention to when working with a Panama-based IT company

The huge company diversity in Panama can have both positive and negative impacts, especially for those interested in budget projects. Out of 560+ IT and software companies registered in Panama, many of them are still inexperienced in developing, design, marketing, or even simply B2B affairs. Yes, the risk of hitting an inexperienced company persists in every country, yet the chances here are bigger, due to the high number of startups that already call themselves “well-established web agencies”. 

How reliable are Panama-based IT companies

IT companies that lack experience, on their turn can create project difficulties, such as delays on project delivery, miscommunication, lower-than-average project management to name a few. This is why Tech Behemoths comes to help in analyzing and finding the right partner for your digital project. 

On the other hand, there are not few IT and software companies that gained a name on the international IT market and perform decent to world-class services for their clients and have a good portfolio. 

Generally, it all depends on the company, but certainly, Panama is a country not to miss when looking for a digital partner.

Data analysis services help businesses make sense of their data. They collect, clean, and analyze data to uncover valuable insights, patterns, and trends that can inform decision-making and strategy.

More than 644 verified and trusted IT companies specialize in providing data analysis services. These companies offer a range of expertise, from data scientists to data engineers. Notable IT companies in this field include IBM, Deloitte, and Accenture.

Data analysis service providers use various tools and technologies to work with data effectively. Commonly used tools include statistical software like R and Python, data visualization tools like Tableau and Power BI, and big data platforms such as Hadoop and Spark. Cloud computing platforms like AWS and Azure are also popular for data storage and analysis.

Data analysis services are often part of a broader range of data-related services, including:

• Data Visualization: Creating graphical representations of data for better understanding.

• Business Intelligence: Developing dashboards and reporting systems for data-driven decision-making.

• Predictive Analytics: Forecasting future trends and outcomes based on historical data.

• Data Engineering: Building data pipelines and infrastructure for data storage and retrieval.

• Machine Learning and AI: Leveraging advanced algorithms to automate data analysis and predictions.

Selecting the right IT company for data analysis services involves considering factors like the company's experience, domain expertise, client references, and the range of services they offer. Look for a company that aligns with your specific data analysis needs, whether it's for business intelligence, marketing, finance, or any other domain.

Data analysis service providers are essential for various projects, including:

• Market Research: Analyzing customer behavior and market trends.

• Financial Analysis: Assessing investment opportunities and managing risks.

• Healthcare Analytics: Extracting insights from patient data for better healthcare outcomes.

• Supply Chain Optimization: Improving logistics and inventory management.

• Customer Insights: Understanding customer preferences and enhancing user experiences.

• Fraud Detection: Identifying unusual patterns in financial transactions.

Most of the times, these services are valuable for companies across industries, including but not limited only to:

• Retail: Analyzing sales data to optimize inventory and promotions.

• Finance: Managing investments, risk assessment, and fraud detection.

• Healthcare: Improving patient care, disease prediction, and drug discovery.

• Marketing: Enhancing customer targeting and campaign effectiveness.

• Manufacturing: Optimizing production processes and quality control.

• Technology: Utilizing data for product development and user experience enhancement.

Data analysis services can provide valuable insights, but it's crucial to have clear objectives and questions you want to answer with the data. Communicate your goals clearly with the service provider to ensure that the analysis aligns with your needs. Data privacy and security should also be a top consideration when sharing sensitive data with a service provider.