Tag: analytics

Analytics and Artificial Intelligence (AI) Services Specialists PEAK Matrix® Assessment 2024

Analytics and Artificial Intelligence (AI) Services Specialists

Amid the macroeconomic headlines, many enterprises seek a proven RoI track record before committing to investments in Analytics and AI. Additionally, a stringent regulatory environment is prompting enterprises to cautiously approach the adoption of generative AI. These enterprises are seeking assistance from analytics and AI services specialists to run pilot projects and scale up implementations. This demand is driving providers to invest in deepening their data, analytics and AI capabilities and expanding their industry knowledge.

Analytics and Artificial Intelligence (AI) Services Specialists

What is in this PEAK Matrix® Report

 In this report, we assess 26 analytics and AI services specialists featured on the Analytics and AI Services Specialists PEAK Matrix® 2024.
 

Contents: 

This report features detailed profiles of 26 analytics and AI services specialists and includes:

  • Everest Group’s PEAK Matrix® evaluation of analytics and AI service providers, categorizing them into Leaders, Major Contenders, and Aspirants
  • Providers’ key strengths and limitations

Scope:

  • Industry: data and analytics
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process for the calendar years 2022 and 2023 H1 (January-June), interactions with leading analytics and AI services specialists, client reference checks, and an ongoing analysis of the analytics and AI services market

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Data and Analytics (D&A) Services PEAK Matrix® Assessment 2023

Data and Analytics (D&A) Services 

Enterprises are struggling to strike the right balance between value realization and experimentation through their Data and Analytics (D&A) investments amid the macroeconomic conditions. They are prioritizing RoI and direct business outcomes from D&A initiatives. At the same time, the emergence of technologies such as generative AI is pushing enterprises to experiment and build a solid data foundation to enable these technologies.

D&A service providers, which include IT/BPO firms and consulting companies with a broad set of D&A capabilities, domain expertise, and off-the-shelf accelerators, can help enterprises reduce the time-to-value and improve business outcomes through consistent and data-driven decision-making. Their recent investments in next-generation technologies and their transition toward driving direct business value for their clients can help enterprises navigate the market’s dichotomy.

data and analytics

What is in this PEAK Matrix® Report

In this report, we analyze 27 D&A service providers featured on Everest Group’s D&A Services PEAK Matrix® 2023 and highlight the strengths and limitations of each provider. The study will enable buyers to choose the best-fit provider based on their sourcing considerations, while providers will be able to benchmark their performance against each other. 

In this report, we provide:

  • The D&A service provider landscape
  • D&A Services PEAK Matrix® characteristics
  • Enterprise sourcing considerations

Scope:

  • All industries and geographies
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading D&A service providers, client reference checks, and an ongoing analysis of the D&A services market

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Clear the Confusion of Advanced vs. Predictive Analytics | In the News

Advanced and predictive analytics are sometimes used as interchangeable terms. Users need to understand the differences among advanced analytics techniques to maximize insights.

One of the types of advanced analytics is prescriptive analytics. Prescriptive analytics takes the predictions about future outcomes and provides options for actions that could influence those outcomes. “The system tells us what might happen going forward and suggests certain steps to take,” said Vishal Gupta, Vice President at Everest Group.

Read more in Tech Target.

Healthcare Data and Analytics Services PEAK Matrix® Assessment 2023

Healthcare Data and Analytics Services PEAK Matrix® Assessment

Healthcare enterprises are recognizing the growing importance of Data and Analytics (D&A) in their growth strategies, as data-driven decision-making gains significance. Traditionally, D&A services focused on cost-cutting and operational optimization; however, there has been a shift toward prioritizing customer satisfaction and improving health outcomes. This shift has led healthcare enterprises to invest in data integration and advanced analytics, with a specific focus on areas such as data privacy, value-based care, and population health. Although payers have been leading in the adoption of D&A, providers are rapidly catching up, with the pandemic serving as a catalyst for this trend. Providers are assisting healthcare enterprises in defining their D&A strategy and roadmap, upgrading their infrastructure, and providing relevant recommendations for enterprise-level decision-making, resulting in tangible business benefits.

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What is in this PEAK Matrix® Report

In this report, we assess 35 healthcare D&A service providers featured on Everest Group’s Healthcare Data and Analytics Services PEAK Matrix® Assessment 2023 Each provider profile offers a comprehensive overview of its service focus and key strengths and limitations. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition.

In this report, we:

  • Study healthcare D&A services market trends
  • Examine 35 healthcare D&A service providers’ capabilities and offerings
  • List providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • Geography: North America
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading CCaaS technology providers, client reference checks, and an ongoing analysis of the CCaaS market

The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading D&A service providers, client reference checks, and an ongoing analysis of the healthcare D&A services market

DOWNLOAD THE HEALTHCARE DATA AND ANALYTICS SERVICES PEAK MATRIX® ASSESSMENT 2023

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

How Will Data and Analytics Shape the Future of Financial Services? | In the News

Data and analytics (D&A) in banking and financial services (BFS) is an area that has seen a huge amount of growth, innovation, and development in recent years. The D&A services market is expected to reach a valuation of US$150 billion by 2024, which would represent a 150% increase from where it stood just five years ago.

According to Everest Group research, approximately 15-20% of BFS enterprises will increase their investment by more than 30%. With fears of an impending recession continuing to grow and many areas of IT services that previously looked strong showing less resilience, D&A appears particularly worthwhile.

Read more in Finextra.

Insurers Can Unlock $874 Billion in Untapped Potential by Investing in Data and Analytics—Everest Group | Press Release

Everest Group estimates the massive economic value insurance enterprises can generate by tapping their vast data pools to achieve operational efficiency and drive premium growth.

By investing in becoming data-centric organizations, insurance companies can unlock a collective economic value of US$874 billion, according to Everest Group. This potential lies in the impact data and analytics can have in helping organizations increase operational efficiency (US$306 billion), reduce claims leakage and fraud (US$117 billion), and achieve premium growth in the Property & Casualty (US$285 billion) and Life & Annuity (US$166 billion) sectors.

“Insurers today are challenged by an environment of high uncertainty that includes natural disasters, geopolitical and macroeconomic risks, the repercussions of a global pandemic, inflation and the looming threat of a recession,” said Ronak Doshi, partner at Everest Group. “Nevertheless, they can unlock immense value and come out on top by investing in data and analytics. Everest Group has documented how insurers can use data and analytics to achieve cost savings from increased operational efficiency, reduce claims leakage and fraud expenses, and drive premium growth by unlocking higher sales efficiencies and rapid product innovation. We estimate that collectively the industry could tap up to $874 billion in value by investing in a data-driven approach.”

Currently, insurers’ data and analytics spend is growing at an accelerated rate of over 25% annually. The spend is being directed toward digital transformation of business operations. Key priorities include:

  • Modernizing the data estate (especially, eliminating data silos and storing customer data in a governed data lake), enabling a single view of customers across ecosystems.
  • Redesigning operations to infuse data across workflows to enable enterprise-level, data-driven decision-making capabilities
  • Leveraging cloud-based analytics and AI/ML (artificial intelligence/machine learning) tools to process large data volumes for more effective risk assessment, building hyper-personalized products, and improving agility to respond to customer demands.
  • Building focused solutions to extract value from existing data, especially to build value-added products and services and minimize loss ratios.

These improvements will lead to value creation across five key areas:

  1. Product and experience innovation
  2. Minimization of claims payout
  3. Enhancement of operational efficiency
  4. Reduction in fraud abuse and claims leakage
  5. Revenue growth

These findings and more are detailed in Everest Group’s recently published report, “Insurance IT Services – State of the Market 2022: Unveiling the Economic Value of Data and the Road to Actualization.” In this report, Everest Group showcases the need for a platform-based operating model with a collapsed data supply chain that can enable insurers to transition into data-driven organizations. In addition, the report examines the global insurance IT services outsourcing market and lists various services and technology providers across the data and analytics ecosystem that can help insurers maximize the value from their data and analytics initiatives.

***Download a complimentary abstract of “Insurance IT Services – State of the Market 2022: Unveiling the Economic Value of Data and the Road to Actualization”***

About Everest Group
Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.

Analytics and AI Services Specialists PEAK Matrix® Assessment 2022

Top Analytics and AI Services Specialists

Enterprises looking to adopt Artificial Intelligence (AI) initiatives are finding it difficult to implement them at scale due to data-related challenges, inability to acquire skilled talent, advanced IP, and lack of AI and cloud capabilities. Hence, they are turning to analytics and AI services specialists to serve their needs. In turn, these providers are improving their capabilities through investments in talent, products and platforms, partnerships, industry expertise, and AI-based solutions designed to serve specific client needs.

In this report, we present an assessment and detailed profiles of 22 analytics and AI services specialists featured on the analytics and AI services specialists PEAK Matrix®. Each provider profile presents a comprehensive picture of its service focus, key Intellectual Property (IP) / solutions, domain investments, and case studies. The assessment is based on Everest Group’s annual RFI process for the 2021 and 2022 calendar year H1 (January-June), interactions with leading analytics and AI services specialists, client reference checks, and an ongoing analysis of the analytics and AI services market.

DOWNLOAD THE FULL REPORT Analytics and AI Services Specialists PEAK Matrix® Assessment 2022

What is in this PEAK Matrix® Report

This report provides a detailed analysis of 22 analytics and AI services specialists and includes:

  • Everest Group’s PEAK Matrix® evaluation of analytics and AI service providers and their categorization into Leaders, Major Contenders, and Aspirants
  • An overview of enterprise analytics and AI priorities and key challenges in scaling AI
  • Key analytics and AI services trends
  • A detailed assessment of the strengths and limitations of the providers in terms of their market impact and vision and capability

Scope:

  • Industry: data and analytics
  • Geography: global

LEARN MORE ABOUT Analytics and AI Services Specialists PEAK Matrix® Assessment 2022

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

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