Economic uncertainty increases need to use
high-quality data for better insights, decision-making and
enterprise value, ISG Provider Lens™ report says
Many enterprises in the U.S. are launching initiatives to
realize the potential of generative AI (GenAI) for data-driven
decision-making to maintain growth amid economic uncertainty,
according to a new research report published today by Information
Services Group (ISG) (Nasdaq: III), a leading global technology
research and advisory firm.
The 2023 ISG Provider Lens™ Analytics Services report for the
U.S. finds that most companies believe it is important to invest in
GenAI over the next 24 months. Enterprises have begun the first two
stages of GenAI adoption — knowledge management and functional
process optimization — and will later move on to transforming
products and reinventing their operational models around AI, ISG
says.
“The surge of enterprise activity around GenAI suggests many of
the most successful implementations will be aimed at enhancing
existing analytics investments,” said Shriram Natarajan, ISG
Analytics lead for the Americas. “Companies believe the new tools
will help them generate value from data.”
Enterprises have focused for years on gaining access to more
data, and now their efforts have shifted to generating more
business value from the data they have, the report says. GenAI is a
key component of several emerging use cases for analytics,
including contextual searches, recommendation engines, predictive
analytics, virtual assistant solutions and synthetic data
generation.
With GenAI-powered analytics tools, U.S. companies are
recognizing that good data is more important than big data when it
comes to business relevance and impact, the report says. They
increasingly seek service providers with strong data governance
capabilities to ensure their data is trustworthy and cleared of
incomplete or irrelevant results.
More employees can now use data for insights and decision-making
because self-service features, especially natural-language
processing, are integrated into more analytics tools and services,
ISG says. Non-technical professionals can gain insights from
relevant data by asking questions in their own terms, bypassing IT
departments.
“Many advanced analytics capabilities no longer require
programming skills,” said Jan Erik Aase, partner and global leader,
ISG Provider Lens Research. “With proper access controls, data
democratization can unleash powerful innovations throughout an
organization.”
Though GenAI has so far gone largely unregulated in the U.S.,
several types of legislation being considered at both the federal
and state levels could impose more scrutiny on uses of the
technology, the report says. In particular, laws addressing data
privacy and accountability for AI algorithms and automated
decision-making may require impact assessments of companies’ GenAI
implementations.
The report also explores other trends in analytics services,
including the rising importance of establishing data lineage and
ongoing efforts to personalize customer experiences while keeping
consumer data anonymous.
For more insights into the analytics challenges U.S. companies
face, including the rising cost of analytics technology, and advice
on how to overcome them, see the ISG Provider Lens™ Focal Points
briefing here.
The 2023 ISG Provider Lens™ Analytics Services report for the
U.S. evaluates the capabilities of 62 providers across eight
quadrants: Data Science Services — Large Market, Data Science
Services — Midmarket, Data Science Services — Specialist, Data
Engineering Services — Large Market, Data Engineering Services —
Midmarket, Data Engineering Services — Specialist, Data Management
Services — Large Market and Data Management Services —
Midmarket.
The report names Accenture, Apexon, Capgemini, Cognizant,
Deloitte, Genpact, HARMAN Digital Transformation Solutions,
HCLTech, Hexaware, Infogain, Infosys, Mphasis, Persistent Systems,
TCS, Tech Mahindra, UST, Virtusa and Wipro as Leaders in three
quadrants each. It names Encora, Fractal, HTC Global Services,
MathCo, Quantiphi, Tiger Analytics and Tredence as Leaders in two
quadrants each. Brillio, Impetus Technologies and ZS are named as
Leaders in one quadrant each.
In addition, NTT DATA and Trianz are named as Rising Stars —
companies with a “promising portfolio” and “high future potential”
by ISG’s definition — in three quadrants each. Sigmoid is named as
a Rising Star in two quadrants.
Customized versions of the report are available from FactSpan,
Hexaware, Impetus Technologies and Persistent.
The 2023 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.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 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 1,600
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240122867359/en/
Press Contacts:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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