ISG to Release Study on Growing Data Analytics Outsourcing Market
Upcoming ISG Provider Lens report will examine vendors that offer data insights into customer experience and product adoption
Information Services Group, a leading global technology research and advisory firm, has launched a research study examining a wide range of data analytics solutions and services offered by vendors to enterprises across the globe.
The study results will be published in a comprehensive ISG Provider Lens report, called Analytics – Solutions and Service Partners 2020, scheduled to be released in November. The report will cover data analytics vendors whose services give enterprises increased and early insights into customer experience and product and service adoption, which are key to building resilient and future-ready businesses.
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
The new report points to a growing demand for vendors that can offer their enterprises customers comprehensive data analytics services, said Jan Erik Aase, director and global leader, ISG Provider Lens Research.
“Organizations increasingly seek to gather, store and analyze data from varied sources, but they often lack the know-how to build effective statistical models leveraging strong scientific processes,” he said. “Recruiting an army of data scientists is not the answer because these resources are difficult to find. Instead, many organizations rely on specialized data engineering service providers with capabilities to implement the necessary infrastructure to achieve efficient data pipelines and scalable data lakes.”
ISG has distributed surveys to more than 135 providers of data analytics services. Working in collaboration with ISG’s global advisors, the research team will produce six quadrants representing the services and products the typical enterprise client is buying in the data analytics space, based on ISG’s experience working with its clients. The six quadrants that will be covered are:
- Data Science Services, including scientific methods, processes, algorithms and systems for the extraction of insights, patterns and conclusions from structured as well as unstructured data. Services include consultation for defining targeted analyses services, implementation of methodology as well as training of data scientists.
- Data Engineering Services, involving the collection and aggregation of data from structured, semi-structured and unstructured sources. Data is obtained from different systems, processed in context and is made available in a structured manner through access settings.
- Data Infrastructure and Cloud Integration Services, integrating technical infrastructure and services for cloud analytics. The integration includes services which need to be provided through public, private and hybrid cloud architectures.
- Data Lifecycle Management Services, referring to the capabilities of developing and implementing data governance systems, policies and procedures for the effective and efficient management of data. In an increasingly stringent regulatory environment, service providers are tasked with end-to-end management of storage, sharing, archival and retrieval of data, while adhering to relevant compliance practices.
- Self-Service Analytics and BI Platforms As-a-Service, including as-a-service software solutions for business intelligence and business analytics functions. These offerings contain modular solutions for reporting the results of complex analysis of large volumes of unstructured data.
- Analytics Reporting Solutions, which are solutions for processing data from varied sources and visualizing them on heterogeneous interfaces such as industrial monitoring systems, smartphones and car displays. The aim is to derive insights in such a way that decisions can be made and supported.
The report will cover the global analytics market and examine products and services available in the U.S., Germany, the U.K., Brazil and the Nordic countries, as well as the Baltics. ISG analysts Dr. Henning Dransfeld, Gowtham Kumar and Marcio Tabach will serve as lead authors of the report.