Analytics Tools Enable Data-Driven Strategies at U.S. Firms

Rhea-AI Summary

Enterprises in the U.S. are increasingly investing in analytics platforms, according to the 2022 ISG Provider Lens™ report. The shift is driven by the need for real-time data insights in a competitive landscape with disruptive startups. Companies are focusing on embedded analytics and data governance tools to ensure data quality and reliability amidst rising cybersecurity risks. In 2023, the demand for analytics platforms is expected to grow as firms empower more employees to utilize data for informed decision-making. The report also highlights significant players in the sector, including IBM and Qlik, recognized as leaders in embedded analytics and data governance.

Positive

• Increased investments in analytics platforms due to the need for real-time insights.
• Rising demand for data governance tools to tackle cybersecurity risks.
• Support for data self-service tools for non-technical users.

Negative

• None.

More enterprises are deploying analytics platforms as trusted data becomes central to decision-making at all levels, ISG Provider Lens™ report says

STAMFORD, Conn.--(BUSINESS WIRE)-- Enterprises in the U.S. are making major investments in analytics platforms to enable data-driven approaches to decision-making at all levels, 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 Platforms report for the U.S. finds that many U.S. companies, facing tougher competition and a wave of startups with disruptive business models, have shifted their objectives from capturing and storing data to extracting real-time insights from it. Both large and small enterprises are investing in embedded analytics, business intelligence (BI) and data governance platforms to reach these objectives.

“Modern analytics tools help organizations turn data into stories that guide decisions,” said Sush Apshankar, ISG analytics lead for the Americas. “Most U.S. companies are in the early stages of data maturity, so demand for analytics platforms is soaring.”

In 2023, enterprises are likely to continue initiatives that empower more employees to use data for insights and decision-making, the report says. As the volume of data in most organizations quickly grows, companies will also seek platforms that enable more efficient data management. Adoption of data governance tools is also rising as organizations face a growing need for trust in critical data as the single source of truth.

Data governance has become more essential partly because of the growing number of internal and external cybersecurity risks, ISG says. Data breaches, especially ransomware attacks, can place the quality and reliability of data into question. Data governance platforms also help companies put data into context, a requirement for informed decision-making.

Enterprises with higher data maturity are also investing in tools for embedded analytics, which allow them to share real-time insights in reports and web portals rather than keeping them locked in the applications where the data resides, the report says. Data self-service tools, which allow non-technical users to leverage analytics capabilities using natural language, are also on the rise.

“U.S. companies no longer view data only through a technology lens. They are concentrating on its business impact,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Analytics platforms are helping them reach data literacy, with a much deeper understanding of what data can do for them.”

The report also explores other U.S. trends in the use of analytics platforms, including the increasing availability of industry-specific tools and the prospect of greater cognitive abilities and voice-based queries to come.

For more insights into the analytics challenges faced by U.S. firms, along with advice for how to use analytics platforms to overcome those hurdles, see the ISG Provider Lens™ Focal Points briefing here.

The 2022 ISG Provider Lens™ Analytics Platforms report for the U.S. evaluates the capabilities of 37 providers across two quadrants: Embedded Analytics and Business Intelligence Platforms and Data Governance Platforms.

The report names IBM, Qlik and TIBCO as Leaders in both quadrants. It names Alation, Collibra, Denodo, Informatica, Microsoft, MicroStrategy, SAP, SAS, Tableau and Talend as Leaders in one quadrant each.

In addition, Precisely and ThoughtSpot are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

The 2022 ISG Provider Lens™ Analytics Platforms 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005386/en/

Press:

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

Source: Information Services Group, Inc.

FAQ

What does the 2022 ISG Provider Lens report say about analytics platforms for U.S. companies?

The report indicates that U.S. companies are increasingly investing in analytics platforms to gain real-time insights and improve decision-making.

Which companies are identified as leaders in the ISG report for analytics platforms?

IBM, Qlik, and TIBCO are recognized as leaders in the analytics platforms sector.

How are U.S. enterprises addressing data governance according to the ISG report?

Enterprises are adopting data governance tools to ensure data quality and integrity, especially in light of growing cybersecurity risks.

What trends are anticipated for analytics platform adoption in 2023?

The report predicts continued growth in analytics platform adoption as companies empower employees to utilize data for insights and decision-making.

What is the significance of embedded analytics in the 2022 ISG report?

Embedded analytics is highlighted as essential for sharing real-time insights across organizations, enhancing data literacy and informed decision-making.