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Data as a service (DaaS) is a cloud strategy used to facilitate the accessibility of business-critical data in a well-timed, protected and affordable manner. DaaS depends on the principle that specified, useful data can be supplied to users on demand, irrespective of any organizational or geographical separation between consumers and providers.

DaaS eliminates redundancy and reduces associated expenditures by accommodating vital data in a single location, allowing data use and/or modification by multiple users via a single update point. Initially used in Web mashups, the DaaS strategy is often used by commercial organizations.

Source: Data as a Service (DaaS)