STAMFORD, Connecticut – (COMMERCIAL THREAD– U.S. companies are investing more in data analytics services and platforms as employees at all levels appreciate the value of data more, according to two new reports released today by Information Services Group (ISG) (Nasdaq: III), one of the world’s leading technology research and consulting companies.
2021 ISG Provider Lens ™ Analytics Services and Analytics Platforms and Solutions for the US Reports Reveal Companies Now Recognize the Need to Make Relevant Data and Analytics Available to All Departments and Industries . The pandemic has both accelerated the growth in demand for analytics and helped organizations prioritize investments and innovations.
“Getting the most out of data analytics requires a solid strategy and an understanding of how analytics projects can improve business results,” said Kathy Rudy, Partner and Head of Data and Business. analysis, ISG. “Companies are partnering with service and platform providers to develop solutions that can empower all employees and grow with the organization. ”
Despite the continued economic impact of the COVID-19 pandemic, companies are investing in scalable data analytics platforms that democratize data access and deliver business results, according to the Analytics Platforms and Solutions report. This highlights two categories of platforms, namely self-service Business Intelligence (BI) and data preparation and integration.
Self-service BI allows users and non-technical executives to gain deeper insights from available data, and ISG expects these tools to include voice queries and better cognitive capabilities soon. Data preparation and integration is essential to create unified analytics platforms capable of performing data research, collection, analysis, visualization, reporting, and other functions within organizations. complex and often siled enterprise data environments.
According to ISG, a new generation of vendors specializing in data preparation and integration, offering better support for multiple data sources, is gaining ground over traditional large enterprises which tend to rely on their own systems. . Platform providers with extensive cloud expertise, as well as providers offering cloud services for data collection and connectivity, are also growing as more businesses deploy multi-cloud and hybrid cloud environments.
The trend in data analytics is spreading into new verticals, including consumer goods, manufacturing, healthcare and life sciences, according to the Analytics Services report. Service providers are reporting an increasing number of projects in these areas, especially for data science and data engineering services, the report says. Most projects focus on common business issues like sales, supply chains, and predictive maintenance, driving both revenue and profit.
Several service providers have started to develop platforms and tools in the form of pre-built solutions, in some cases competing directly with platform providers, the report says. These have fewer functions than pure vendor platforms, but are designed as consumer solutions to help existing customers include more employees in their data-driven business initiatives.
As companies make more use of data science, concerns grow about trust and responsible use of AI, including the ability of an AI or ML model to factor in risk, prejudice and discrimination, according to ISG. Service providers are responding to this trend by creating reliable frameworks, which should become standard offerings that set them apart from the competition.
Meanwhile, service providers have renewed their focus on compliance, governance and regulatory practices, especially to meet AI data privacy and ethics requirements, the report says. ISG expects vendors to include automated compliance in their data management systems to address these concerns.
The 2021 ISG Provider Lens ™ Analytics Services report for the United States assesses the capabilities of 35 vendors in three quadrants: data science services, data engineering services, and data lifecycle management services.
The report names Accenture, Atos, Capgemini, Cognizant, Deloitte, DXC Technology, IBM, Infosys and Wipro as leaders in all three quadrants. He appoints Tech Mahindra as a leader in two quadrants and HCL and TCS as leaders in one quadrant each.
Additionally, Hexaware, LTI, and Tech Mahindra are named Rising Stars – companies with a “promising portfolio” and “high future potential” as defined by ISG – in one quadrant each.
The 2021 ISG Provider Lens ™ Analytics Platforms for the United States report assesses the capabilities of 39 vendors in two quadrants: self-service business intelligence platforms and data readiness and integration platforms.
The report names IBM, SAP, SAS and TIBCO as leaders in both quadrants. He names AWS, Hitachi Vantara, Informatica, Microsoft, Oracle, Qlik, Sisense, Tableau, Talend, and Teradata as leaders in one quadrant each.
Additionally, Qlik and Zoho are named as rising stars – companies with a “promising portfolio” and “high future potential” as ISG’s definition – in one quadrant each.
About ISG Provider Lens ™ Research
The ISG Provider Lens ™ Quadrant research series is the only service provider assessment of its kind to combine empirical and data-driven research and market analysis with the real-world experience and observations of the advisory team. world of ISG. Companies will find a wealth of in-depth data and market analysis to help them select suitable sourcing partners, while ISG advisors will use the reports to validate their own market knowledge and make recommendations to corporate clients. ISG. The research currently covers providers offering their services worldwide, in Europe, as well as in the United States, Germany, Switzerland, United Kingdom, France, the Nordic countries, Brazil and Australia / New Zealand, with additional markets to be added in the future. For more information on ISG Provider Lens research, please visit this page Web page.
A complementary research suite, the ISG Provider Lens Archetype reports, provides a unique assessment of suppliers from the perspective of specific types of buyers.
ISG (Information Services Group) (Nasdaq: III) is one of the world’s leading technology research and consulting companies. A trusted business partner to more than 700 customers, including more than 75 of the world’s 100 largest companies, ISG is committed to helping businesses, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The company specializes in digital transformation services including automation, cloud and data analytics; procurement advice; managed governance and risk management services; network operator services; design of strategy and operations; change management; market intelligence and technology research and analysis. Founded in 2006, and headquartered in Stamford, Connecticut, ISG employs more than 1,300 digitally ready professionals operating in more than 20 countries — a global team known for their innovative thinking, market influence, deep industrial and technological expertise. and its world-class expertise. Industry’s most comprehensive market data-driven research and analysis capabilities. For more information visit www.isg-one.com.