“In an increasingly dynamic and often volatile business environment, organisations increasingly seek ways to create greater value while minimizing risk. This study clearly shows that RPA is fast moving from a pioneering stage to a rapid growth phase of adoption,” said Rajesh Ranjan, Partner, Everest Group who coauthored the report. Read more.
The irresistible force paradox asks, “What happens when an unstoppable force meets an immovable object?” I think it’s the opposite when it comes to the Internet of Things (IoT) and the already booming as-a-service economy: “What happens when an unstoppable force befriends an unstoppable object?”
Most of the discussion to date around the as-a-service economy has been focused on cloud services, SaaS, and the likes of Uber. At the heart of this economy are the fundamental premises that customers – either business or consumer – can “rent” rather than own the product or service, and can do so, on demand, when they need it, paying as they go.
Although wishing for the utopian as-a-service model may be a futile exercise, the IoT can initiate meaningful models for heavy investment industries and quite a few consumer-focused businesses, and as technologists we should continue to push the envelope.
Let’s step back and think about how the IoT can push the sharing economy to its potential. Can product manufacturers leverage IoT principles, and create a viable technical and commercial model where idle assets are not priced, or are priced at a lower rate, thus saving customers millions of dollars? This would, of course, require collaboration between customers and product manufacturers to enable insight into how, when, and how much a customer consumes the product. But consider the possibilities!
One example is the car-for-hire market. Could a customer’s wearable device communicate with a reserved car, notifying it of approximate wait time until it’s required, enabling the vehicle to be productively deployed somewhere else, in turn enabling the business to offer lower prices to the customer and reduce the driver’s idle time? I think the technology is there, and although the task is humongous and with uncertain returns, I am sure someone, (ZipCar?) will experiment with this model at scale in the near future.
Another example is the thousands of small healthcare labs that cannot afford to own a blood analyzer. Innovative manufacturers of these machines could leverage IoT principles to analyze the blood test patterns of individual labs, and offer them a subscription model by which they are charged per blood test executed, or offered a bundled price of $X per 100 blood tests (much like HP’s Instant Ink offering.)
The IoT has the potential to really bring upon us the power of a sharing economy. In the near-term, businesses face challenges in developing a viable commercial and support model. However, they must overcome this in order for society at-large to truly benefit from this once-in-a-lifetime opportunity. They must remember that most industry disruption these days comes from outside the industry. If they don’t cannibalize themselves, someone else will. Thus, as the traditional competitive strategy levers are fast losing relevance, the IoT most definitely should be an integral part of their strategy.
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Accenture, Cognizant, Deloitte and IBM identified as Leaders in the report; Analytics enablement still an aspiration for most life sciences firms
DALLAS, September 23, 2015 — Big data and analytics in life sciences is moving beyond traditional data management and reporting to insights-driven decision making with tools for predictive and prescriptive analytics—but it is a slow evolution.
One in every four life sciences IT outsourcing (ITO) transactions in 2014 had an element of big data and analytics in scope, primarily as an add-on service with traditional IT services. The scope predominantly revolved around conventional analytics services such as data warehousing and basic reporting. Only one in five life sciences ITO deals comprised advanced analytics services such as predictive analytics, reflective of the fact that true analytics enablement is still an aspiration for most life sciences firms.
“Evolving consumer engagement models and rising business complexities have led the life sciences industry to make advances in data-driven business decision making,” said Abhishek Singh, practice director at Everest Group. “However, stakeholders are still a long way from realizing the true value of data, as the focus remains largely on sales and marketing analytics. In this situation, engaging ‘non-CIO’ buying centers, such as COO, CMO, CPO and CDO, will be key for service providers to demonstrate the enterprise-wide value of big data and analytics.”
Everest Group—a consulting and research firm focused on strategic IT, business services, and sourcing—reports that pharmaceuticals firms accounted for over half of the big data and analytics transactions in 2014, with increasing traction for services around data mining, warehousing and curative reporting. Medical device and biotechnology firms are catching up with analytics adoption, primarily exploring these tools for the optimization of manufacturing and supply chain processes.
These findings and more are discussed in Everest Group’s recently released report, Life Sciences Big Data and Analytics IT Services – Service Provider Landscape with PEAK Matrix™ Assessment 2015.
***Download Complimentary 4-page Preview Here***
This inaugural report provides a comprehensive assessment of the service provider landscape for big data and analytics IT services in the life sciences industry. It maps 18 leading service providers on the Everest Group PEAK Matrix, which is a composite index of a range of distinct metrics related to a service provider’s capability and market success. The report also provides an overview of the extent of big data / analytics adoption across the life sciences value chain, drivers of adoption, deal trends, evolving definitions, and focus of investments. Moreover, based on its research findings, Everest Group includes in this report business strategy recommendations for buyers and service providers to consider.
In the market for big data and analytics IT services for life sciences, Everest Group identified four Leaders: Accenture, Cognizant, Deloitte and IBM. Leaders are at the leading edge of big data and analytics innovation. They combine consulting expertise with cutting-edge solutions to enable insights-driven decision making among life sciences stakeholders.
Major Contenders comprise Capgemini, CGI, CSC, Dell Services, HCL, HP ES, Infosys, NTT Data, TCS, Teradata and Wipro. Major Contenders have robust ongoing investments in ramping up capabilities along the life sciences value chain, with a distinct focus on “run the business.”
Aspirants include EPAM, IGATE and Tech Mahindra. Aspirants are attempting to evolve a life sciences-specific value proposition, choosing either to extend broad-based offerings or carve out a niche in particular opportunity areas.
About the PEAK Matrix™
The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers. Everest Group recently announced a recalibrated methodology, in which innovation, intellectual property and technology take center stage.
Monday, October 19, 2015 | 9 a.m. CDT, 10 a.m. EDT, 3 p.m. BST, 7:30 p.m. IST
You can count on HR analytics to incite great discussions and interest among HR professionals and C-level executives alike. But we often wonder, “Just how much of this is hype and how much is actual adoption?”
To answer our own question we undertook a project to assess the HR analytics scene in Europe – a region where HR is the most strategic and powerful. The findings reveal that quite a few organizations have made a strong and emphatic start on their HR analytics journey, but they are still a long way from fully leveraging its potential, illustrating a patchwork landscape with telltale signs of more activity to come.
Join our one-hour webinar during which we will present the findings of our research, including on-the-ground, successful examples of HR analytics from some of the largest corporations in Europe.
The presentation will be followed by a panel debate of HR analytics experts.
Presenter:
Panelists:
Moderator:
Everest Group’s Vice President Sarah Burnett is a member of the judging panel for the 2015 UK IT Industry Awards that focus on the contribution of individuals, projects, organisations and technologies that have excelled in the use, development and deployment of IT in the past 12 months. Learn more.
There’s an old joke that asks how many psychologists it takes to change a light bulb. The answer is it doesn’t matter; the light bulb has to want to change. I think this has a deep truth when applied to the services market.
Almost every service provider looking for growth sees that capturing a share of the transformational marketplace is key to their success. In their effort to pursue this, they come up with arguments and proof points that they can do a business function better, faster and more cost-effectively than shared services or the target organization. They then conduct significant analysis, looking at which customers would be the best fit for their strategy.
Unfortunately for these providers, their efforts often are frustrating and come to very little reward. The reason can be seen in the light bulb joke. The key to significant transformational change has less to do with the potential impact and more to do with the motivations of the client and its willingness to change. Few people can be squeezed to undertake the risk of a significant large-scale change and transformation.
Service providers seeking to capture transformational deals must first identify senior executives with a change agenda and then gain an understanding of how they wish to change. That is where the transformation journey must start. Although this sounds obvious, my experience has been that providers rarely approach the problem from this perspective.
When you couple this starting point with the changing objectives of customers focusing on business value and cycle time instead of costs that I’ve blogged about before, it’s easy to understand why so many providers’ strategies fail. Looking for transformation opportunities through the lens of cost savings is a mistake, and increasingly the provider’s efforts will go unrewarded.
Just like the light bulb joke, transformation opportunities won’t happen unless the customer wants to change and the provider understands what the customer wants to accomplish through the change.
Photo credit: Flickr
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Adoption of third-party BPaaS solutions in HR outsourcing has slowly risen in recent years, accompanied by some notable trends
Multi-process HRO goes global: Share of new deals by geographic scope
The top 5 providers hold 55% of the market, but Indian-heritage providers are coming on strong
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Implementation, change management support, relationship management, customization, solution breadth, SMAC capabilities, pricing flexibility
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