Global business analytics services spending should enjoy a 14,3% compound annual growth rate (CAGR), reaching an estimated $70,8-billion by 2016.
This forecast is according to a new business analytics services outlook published by International Data Corporation (IDC).
“IT services providers are leveraging their business analytics solutions and experience to assist their customers with their efforts to find key insights into their business performance. These include industry-specific and functional resources, infrastructure, and knowledge of best business practice industry performance metrics,” says Mukesh Dialani, research director: worldwide BPO and engineering services at IDC.
IDC research shows that the following factors will act as key enablers for increased third-party outsourcing of business analytics services:
* Lack of internal (end customer) analytics resources, such as mathematicians, business analyst, data modellers, statisticians and data scientists.
* The fast pace of new technologies including automation around analytics and their link to social and mobile will make it difficult for the end customer to build and deploy teams in view of investment required to build/buy infrastructure and talent.
* As business analytics providers successfully consult, deploy and manage business analytics solutions for their customers, they will be able to demonstrate an increased number of transformative use cases.
“Talent gap and lack of knowledge base in the analytics space will continue to force businesses to rely on service providers to fulfil their business analytics needs in the near future,” says Ali Zaidi, senior research analyst: IT consulting and systems integration services at IDC.