U.S. Firms Seize Power of Data With Advanced Analytics
New, AI-enabled tools and approaches spark aggressive investments to improve insights and decision-making, ISG Provider Lens™ report says
Enterprises in the U.S. are making major investments in analytics and AI to fully realize their data's potential, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2024 ISG Provider Lens™ Advanced Analytics and AI Services report for the U.S. finds that AI is turning analytics into a more powerful tool for data science and an enabler of business transformation. U.S. enterprise investments in AI, along with cloud technologies and more flexible data architectures, are directly aligned with strategic business goals.
"Companies can unlock deeper insights and drive significant business value when their data is accessible and integrated into operations," said Kathy Rudy, chief data and analytics officer at ISG. "Service providers play a crucial role in making this possible."
Enterprises in the U.S. are at the forefront of adopting augmented analytics, which uses AI and ML to automatically identify insights, trends and patterns in data without manual intervention, ISG says. Such systems provide data discovery, predictive analytics and natural-language processing (NLP) to help companies more quickly acquire useful insights into their business. Generative AI, likewise, is expected to expand the ability to generate advanced insights at scale.
The U.S. is also a leading region in the democratization of data, a full-fledged trend toward making data accessible to a broad range of users in an organization, the report says. Using self-service analytics platforms, low-code/no-code tools and user-friendly dashboards, U.S. enterprises empower non-technical users without specialized skills to analyze and use data — often by making simple queries through NLP.
Many organizations in the U.S. are using embedded analytics, an increasingly popular approach that makes data analysis a part of everyday business processes rather than a separate task, ISG says. This allows employees to make informed decisions within their usual workflows instead of switching to other systems or tools.
Enterprises in the U.S., especially large ones, are adopting data mesh architectures to make data available across organizations without taking away departmental control, the report says. Rather than centralizing all information in one data warehouse or lake, these companies are creating smaller repositories that are widely accessible but controlled by local departments, complying with governance regulations.
"The drive for data modernization is coming from enterprises that recognize the need for a solid data strategy and foundation to fully utilize AI," said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. "Providers can meet their needs with solutions that integrate AI with data science and business intelligence."
The report also explores other data analytics trends in the U.S., including the growing popularity of data warehouse as a service (DWaaS) and of metadata-driven architectures that give companies a clearer picture of their data assets.
For more insights into the analytics challenges facing U.S. enterprises, including inadequate real-time analytics or comprehensive views of customer intelligence, plus ISG's advice for addressing those challenges, see the ISG Provider Lens™ Focal Points briefing here.
The 2024 ISG Provider Lens™ Advanced Analytics and AI Services report for the U.S. evaluates the capabilities of 77 providers across three quadrants: Data Science and AI Services, Data Modernization Services, and Advanced BI and Reporting Modernization Services. Within each quadrant, the evaluated providers are divided into three segments based on size: Large, Midsize and Specialist.
Among Large providers, the report names Accenture, Capgemini, Cognizant, Deloitte, Genpact, HCLTech, Infosys, TCS, Tech Mahindra and Wipro as Leaders in all three quadrants.
In addition, NTT DATA is named as a Rising Star — a company with a "promising portfolio" and "high future potential" by ISG's definition — in all three quadrants.
Among Midsize providers, Apexon, Encora, EXL, HARMAN, Hexaware, Innova Solutions, Mphasis, Persistent Systems, Stefanini, Unisys, UST and Virtusa are named as Leaders in all three quadrants. HTC Global Services is named as a Leader in two quadrants, and Brillio is named as a Leader in one quadrant.
In addition, ITC Infotech is named as a Rising Star in two quadrants and HTC Global Services is named as a Rising Star in one quadrant.
Among Specialist providers, Fractal Analytics, Lingaro, MathCo, Quantiphi, Tiger Analytics, Tredence and WNS Analytics are named as Leaders in all three quadrants. Evalueserve and Impetus Technologies are named Leaders in one quadrant.
In addition, Sigmoid is named as a Rising Star in all three quadrants.
In the area of customer experience, DXC Technology is named the global ISG CX Star Performer for 2024 among advanced analytics and AI providers. DXC Technology earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.
Customized versions of the report are available from 66 Degrees, Altimetrik, Apexon, Chetu, HARMAN, Impetus Technologies, HCLTech, Lingaro, Persistent Systems, Sigmoid, Unisys and WNS.
The 2024 ISG Provider Lens™ Advanced Analytics and AI Services reports for the U.S. are available to subscribers or for one-time purchase on these webpages: Large and Midsize Providers and Specialist Providers.
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, Mexico, 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.
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 AI, 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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