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IT Wages to Rise 3.0% at the Median in 2024, Salary Study Finds
Despite lingering questions about the economy, unemployment remains at low levels and inflation is coming under control. We anticipate modest upward pressure on IT personnel wages in 2024. Overall, our IT Salary Report 2024 anticipates that average wages for IT workers will rise 3.0% in 2024. This is lower than the 4.0% we projected the past two years, but it still shows a strong IT job market, especially considering a fair number of high-profile layoffs in the tech industry earlier in 2023.
December, 2023
App Development Outsourcing Increasing But for How Long?
The outsourcing of the application development function has grown in the past five years, increasing from 56% in 2019 to 64% in 2023. However, this is an outsourcing category that should be monitored, because there are countervailing trends such as public cloud infrastructure, SaaS, low-code/no-code, and even AI, which may result in decreased demand for developers in the near future. This Research Byte summarizes our full report on Application Development Outsourcing Trends and Customer Experience.
February, 2024
Hybrid Enterprise Cloud Services: Gen AI and Industry-specific Cloud Solutions Drive Next Wave of Growth
As businesses delve into the possibilities that generative AI presents, cloud migration, data modernization, security, and privacy take center stage as crucial priorities. Service providers are directing investments toward integrating generative AI with traditional automation methodologies to enhance productivity within IT operations. This integration aims to reinforce hybrid cloud systems, ensuring they remain robust, secure, and sustainable. Both demand-side and supply-side trends are covered in Avasant’s Hybrid Enterprise Cloud Services 2023–2024 Market Insights™ and Hybrid Enterprise Cloud Services 2023–2024 RadarView™, respectively.
February, 2024
Retail Digital Services: Elevating Customer Experience Using Emerging Technologies
Retail enterprises worldwide leverage emerging technologies to provide a personalized and immersive customer experience. They also focus on enhancing profit margins by utilizing AI to improve operational efficiency and venturing into higher-margin businesses such as retail media networks. They are also realizing the significance of social media as a pivotal commerce channel and adopting measures to better connect with their audiences there. Increasing regulatory requirements also compel retailers to integrate sustainability into core business operations.
March, 2024
ESG Experts Call Out Lack of Meaningful Progress
According to some environmental, social, and governance (ESG) experts, the push toward ESG resembles what someone once said about the weather: Everyone talks about it, but no one does anything about it
May, 2024
Intelligent Automation Services: Intuitive Automation for Real-Time Decision-Making
Enterprises face challenges in extracting, organizing, and processing high volumes of unstructured data. However, the advancements in AI have significantly expanded the scope of automation by providing new capabilities such as deep learning and generative AI to automate complex, data-driven tasks with high accuracy. Cognitive bots can now process unstructured data, recognize patterns, and make more informed decisions regarding workflows previously considered too complex for automation. By leveraging automation technologies such as RPA, ML, process mining, and AI, organizations can unlock new levels of productivity, innovation, and growth for increasing customer satisfaction and revenue, and gaining a competitive advantage. These trends, and others, are covered in Avasant’s Intelligent Automation Services 2022–2023 RadarView™.
March, 2023
Boosting Banking Through Digitally Enabled Operations
The volatile macroeconomic environment and rising interest rates have put pressure on banks, impacting their liquidity and raising the cost of funding. Rising competition due to neobanks and fintechs that offer personalized products and add-on services have upended customer expectations. Stringent regulatory requirements are driving banks to revamp their processes and operations. Banks seek support from service providers to transform their operations, drive higher margins and process efficiency, and enhance customer experience. This has led to a 23% growth in banking process transformation revenue for service providers in the past 12 months. Both demand-side and supply-side trends are covered in our Banking Process Transformation 2023 Market Insights™ and Banking Process Transformation 2023 RadarView™, respectively.
May, 2023
Business Continuity Fears Favor Growth in Data Center Outsourcing
As IT organizations try to “get out of the data center business,” companies are turning to service providers to make up the difference. However, the amount of the data center workload that companies are outsourcing has been volatile, with rather large swings over the past few years. Why is this so? The COVID-19 pandemic led to an inflection in data center outsourcing. However, those swings should lessen over the next couple of years with the growth of infrastructure as a service (IaaS) and the cloud. In 2023, it is likely that areas where businesses increased their outsourcing in the last three years will return to pre-pandemic levels. This Research Byte discusses the changes in data center outsourcing over the last five years.
July, 2023
Digital CX Services: Empowering Growth Through a Connected and Engaging Customer Experience
Enterprises are revamping their CX strategies by eliminating data silos between multiple customer touchpoints and different business functions to create a single view of customers and deliver unified CX. Companies across sectors are pivoting toward a business outcome-driven approach to CX transformation that measures and drives key business outcomes such as increasing customer conversion, sales, customer engagement, and cost and inventory optimization. The focus has shifted toward leading with an integrated CX. As a result, the providers focus on a broader spectrum of digital CX services. These trends, among others, are covered in Avasant’s Digital CX Services 2023 RadarView™ and Digital CX Services 2023 Market Insights™.
August, 2023
Quantum Computing in Action – Charting a New Course for Logistics Optimization
Addressing data challenges requires strategic investment in innovative tools, robust data management practices, and the use of pre-trained ML models effectively. However, the ever-accelerating pace of data generation and the need to run numerous scenarios for optimal decision-making continue to be daunting. The limitations of traditional computing capabilities often pose significant challenges in managing vast amounts of data in real time. This situation underscores the need to pivot to the next generation of computing power—high-performance computing, edge, and quantum computing modalities.
October, 2023
Data Center Managed Services: Revolutionizing Data Center Operations with Generative AI
Managing a data center involves a complex interplay of hardware, software, security, and scalability considerations, presenting challenges that organizations may struggle to address internally. Service providers harness AI and predictive algorithms to anticipate potential issues, enabling proactive maintenance and minimizing downtime. Generative AI takes this narrative forward and empowers organizations in resource optimization and allocation by predicting workloads and dynamically adjusting the resource provisioning on demand, enabling efficient data center management. Both demand-side and supply-side trends are covered in Avasant’s Data Center Managed Services 2023–2024 Market Insights™ and Data Center Managed Services 2023–2024 RadarView™, respectively.
November, 2023
Generative AI Shifting the Paradigm for Business and Data Analytics
With the rise of generative AI, enterprises are entering a new paradigm when it comes to business and data analytics, and it is poised to bring challenges. Business and data analytics continues to grow, but the satisfaction level is only moderate. As data analytics are only going to get more complicated with Gen AI, it is important to meet the challenges of data analytics head-on. This Research Byte discusses these challenges and summarizes our full report on business and data analytics technologies.
December, 2023
NetOps Outsourcing Continues Its Ascent
As applications, data, and infrastructure become more complex and more infrastructure shifts to the cloud, organizations will seek help with their network operations. Moreover, network service diversification and virtualization are driving the demand for more full-stack skill sets from engineers. This is likely to push the idea of outsourcing network operations. This Research Byte summarizes our full report on Network Operations Outsourcing Trends and Customer Experience.
February, 2024
Agile Now for Everyone
Organizations have been steadily increasing their investment in Agile software development. Agile helps businesses reduce development cycles and respond more quickly to changing markets and customer demands. Once considered useful only to software companies and big tech, Agile has been adopted by enterprises of all types. This Research Byte explores some reasons for the lukewarm growth of agile methodologies among corporate IT organizations.
February, 2024
Network Managed Services: Optimizing Network Operations Effectively
Enterprises encounter several challenges in managing their network infrastructure, such as scalability issues, security vulnerabilities, and resource limitations. In today’s dynamic digital environment, it is crucial for businesses to overcome these challenges to adapt to evolving demands and remain competitive and resilient. This requires comprehensive assessments, strategic planning, and tailored technology implementation. Furthermore, effective network monitoring, maintenance, and troubleshooting are vital to ensuring seamless operations and minimizing downtime. Additionally, service providers are helping enterprises with proactive security measures, compliance adherence, and efficient resource utilization, empowering enterprises to focus on core objectives while effectively managing network complexities.
April, 2024