ISG Provider Lens Report Evaluates 50 US Providers That Help Organizations Make Sense of Their Data and Monetize It
US businesses are increasingly adopting new data analytics tools, including business intelligence-as-a-service and machine learning-as-a-service, to leverage and monetize their information, according to a new report published by Information Services Group (ISG), a leading global technology research and advisory firm.
The ISG Provider Lens Data Analytics Services & Solutions 2019 Report for the US finds many data analytics vendors are stepping up to provide innovative services to enterprises seeking “smart insights” – intelligence derived from their internal and external data using algorithms and cognitive technology – to enhance customer service and drive new growth models. Organizations are looking for products and services that cover the entire data lifecycle, including data storage, streaming, exploration and statistical analysis.
“By using smart insights, organizations are discovering new revenue streams,” said Esteban Herrera, partner and global leader of ISG Research. “Business models driven by data analytics are empowering organizations to experiment more with new product and service offerings, business lines and service channels.”
The insights and intelligence developed from historical and real-time data analytics are proving to be a valid, and increasingly significant, revenue stream for financial services firms, social media providers, entertainment firms and logistics and transportation services providers, the report said.
“Analytics is helping businesses determine what is working and what needs to change quickly to minimize negative impacts,” Herrera added.
Business intelligence platform solutions are allowing enterprises to extract data seamlessly from multiple sources and locations and create well-organized data warehouses. Machine learning as-a-service offerings, meanwhile, are still evolving, but their relatively low cost makes them attractive. Such services are mostly offered by automated and semi-automated public cloud platforms like Amazon, Microsoft and Google. With limited and expensive machine-learning talent available, these vendors will continue to dominate the market.
Other areas examined in the report include social analytics services, such as social listening, audience analytics, visual listening and sentiment analysis, that enable enterprises to gain a deeper understanding of their customers, and operational intelligence that allows organizations to process large amounts of data from IoT devices in real-time and conduct predictive analyses.
The ISG Provider Lens Data Analytics Services & Solutions 2019 Report for the U.S. evaluates the capabilities of 50 data analytics providers across five quadrants: Data-Driven Business Model Transformation; Machine Learning as-a-Service; Operational Intelligence, Self-Service Analytics and BI Platforms-as-a-Service, and Social Analytics. IBM was rated a Leader across all five quadrants, SAP in three and Microsoft in two. Other companies earning Leader ratings in individual quadrants include Accenture, AWS, Brandwatch, Capgemini, Cognizant, DXC Technology, Hootsuite, Infosys, Lithium, SAS, Software AG, Tableau, TCS, TIBCO and Wipro.