Analytics Services Boom in U.S. as Data Takes Center Stage
Many enterprises are developing their ability to use data for better customer engagement and business decision-making, ISG Provider Lens™ report says
STAMFORD, Conn.–(BUSINESS WIRE)–#ERP–More U.S. enterprises are investing in analytics services and solutions as they recognize the need to use data to achieve their business goals, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Analytics Services report for the U.S. finds that companies are starting to realize that data is central to business competitiveness. Enterprises and providers are now focused on enabling the use of decision science and evaluating data analytics tools within a business context.
“Data has never been more important to U.S. enterprises, and data wars are fast replacing cloud wars,” said Sush Apshankar, principal consultant, technology modernization and Americas analytics lead at ISG. “It is becoming essential for effective decision-making that will deliver strong business results.”
Most companies begin their data analytics initiatives by investing in solutions and processes to create more personalized customer experiences, ISG says. Collecting and analyzing customer data helps brands build customized, omnichannel experiences that attract and retain customers. A further step for many firms is introducing tools that enable human-machine collaboration for better overall decision-making.
Data analytics initiatives are ultimately leading organizations to adopt a new mindset that understands data as the prime enabler of business, the report says. This approach can increase employee engagement and improve operations and results. A few large U.S. enterprises, including Google, Apple, McDonald’s and Walt Disney, and some small niche firms are already using highly data-centric approaches, and at many companies this is a major goal for 2023, ISG says.
Undergirding a data-driven culture is data literacy, or an understanding of the value of an organization’s data and how well it is using that data. In data literacy, most U.S. enterprises have slightly lagged behind those in Europe, which began focusing closely on data analytics when laws such as the EU General Data Protection Regulation began to take shape over the past several years, ISG says.
Most large organizations first engage a transformation service provider to examine and reconfigure their IT environment for better data use, then hire specialized analytics providers for solutions to particular needs, ISG says.
“A company can’t become truly data-driven all in one go,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “There is a growing ecosystem of service providers to help clients through each stage of evolution.”
The report also explores other data analytics trends in the U.S., including the rising importance of cloud-native solutions and the effects of both vendor-provider collaboration and industry consolidation.
For more insights into the data analytics challenges U.S. companies face, along with advice on how best to become data-driven, see the ISG Provider Lens™ Focal Points briefing here.
The 2022 ISG Provider Lens™ Analytics Services report for the U.S. evaluates the capabilities of 44 providers across five quadrants: Data Science Services — Transformation Service Providers, Data Science Services — Specialist Analytics Providers, Data Engineering Services — Transformation Service Providers, Data Engineering Services — Specialist Analytics Providers, and Data Monetization Services.
The report names Accenture, Atos, Capgemini, Cognizant, Genpact, IBM, Infosys and TCS as Leaders in three quadrants each. It names Deloitte, Fractal, LatentView Analytics, Tech Mahindra, Tiger Analytics, Tredence, Virtusa, Wipro and ZS Associates as Leaders in two quadrants each.
In addition, LTIMindtree is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in three quadrants. Quantiphi is named as a Rising Star in two quadrants.
Customized versions of the report are available from Tredence and Indium Software.
The 2022 ISG Provider Lens™ Analytics Services report for the U.S. is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Will Thoretz, ISG
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Julianna Sheridan, Matter Communications for ISG