This report identifies key demand-side trends in the data management and advanced analytics services space to assist enterprises in their data management and advanced analytics journeys. It provides an overview of key trends and enterprise challenges that Avasant considers important to highlight in the data management and advanced analytics services space.

Why read this Market Insights?

While not a new field, data transformation projects have experienced significant growth over the past 12 to 18 months. This surge is in response to evolving business needs influenced by the proliferation of data and technological advancements, including streaming analytics and edge computing. These initiatives aim to achieve hyper-personalization, enhance internal data accessibility, increase customer engagement, and extract valuable insights from unstructured datasets. In turn, these efforts drive growth and innovation within organizations.

The Data Management and Advanced Analytics Services 2023 Market Insights™ aids enterprises in identifying important market trends and challenges for their data management and advanced analytics transformation projects.

Methodology

The industry insights and recommendations presented are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with service providers, subject matter experts, and Avasant Fellows, along with lessons learned from consulting engagements.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–7)

• • Defining data management and advanced analytics services
  • Key enterprise data management and advanced analytics services trends shaping the market
  • Avasant recognizes 19 top-tier providers supporting the enterprise adoption of data management and advanced analytics

Demand-side trends (Pages 8–14)

• • ESG data reporting, generative AI, data monetization, and event stream processing broaden the horizons of data and analytics initiatives.
  • Data modernization, migration, and transfer is a major focus area for enterprises.
  • Healthcare and life sciences, retail and CPG, and banking lead the way in data management and analytics adoption.
  • Big data analytics is among the top three investment priorities for enterprises, primarily in BFSI, retail, and healthcare.
  • Customer service, finance, accounting, and IT departments are the hotspots of enterprise data and analytics initiatives.
  • Generative AI usage is on the rise across the data management and advanced analytics value chain.

Key contacts (Page 15)

Read the Research Byte based on this report.

Please refer to Avasant’s Data Management and Advanced Analytics Services 2023 RadarView™ for detailed insights on the service providers and supply-side trends.