Enterprises in Brazil are seeking support from providers of analytics services and solutions to glean insights from skyrocketing volumes of data, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm
The 2020 ISG Provider Lens™ Analytics – Solutions and Service Partners Report for Brazil finds enterprises in the country looking to data analytics providers as they focus on digital transformation and embrace data science.
“New algorithms in artificial intelligence, such as machine learning and deep learning, can help enterprises make complex calculations that previously were not possible,” said Marcio Tabach, lead analyst and author of the report. “Data science allows businesses to make forecasts, classifications and regressions with a high level of accuracy, resulting in improved decision-making.”
Despite the huge potential benefits of using analytics in business applications, there are some barriers to mass adoption, particularly in emerging markets like Brazil, the report says. Some companies have struggled to determine how much value complex analytics structures will add to their business and whether these applications are worth the high cost of investment. Many companies also have legacy systems that present challenges such as getting a full picture of their data and providing real-time insights.
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The COVID-19 pandemic, however, may drive further adoption of analytics, business intelligence, data science and related services in Brazil, the report suggests. The pandemic has forced most companies to review their financial plans, and those with better analytics capabilities were able to test different scenarios and to adapt their plans more quickly.
The report, however, notes that revenues from analytics services in Brazil lags behind those in other developed markets. Large analytics providers have indicated their analytics revenue in Brazil accounts for less than two percent of their global analytics revenues. Some providers say their operations in the country have limited analytics capacity.
Many large international IT companies are not yet investing proactively in offering analytics services in the country, the report adds. Local companies and multinationals with longstanding relationships in Brazil are filling the gap, however. Local IT companies are offering their solutions and expertise to solve ad hoc demands and are developing powerful use cases. The insurance, healthcare and retail sectors have been early adopters of analytics services in Brazil.
The 2020 ISG Provider Lens™ Analytics – Solutions and Service Partners Report for Brazil evaluates the capabilities of 40 providers across six quadrants: Data Science Services, Data Engineering Services, Data Infrastructure and Cloud Integration Services, Data Lifecyle Management Services, Self-Service Analytics and BI Platforms as a Service, and Analytics Reporting Solutions.
The report names IBM as a leader in five quadrants and Accenture, Deloitte, Ernst & Young and Sonda as leaders in four. Keyrus, Qlik, SAP, Stefanini and Tableau are named as leaders in two quadrants, and Infosys, Microsoft, Oracle and SAS are named as leaders in one.
In addition, Deal was named a Rising Star—companies with “promising portfolios” and “high future potential” by ISG’s definition—in two quadrants. Google, Hitachi Vantara, Keyrus, Splunk and Wipro were named Rising Stars in one quadrant each.