Business Wire IndiaWNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today released a survey report titled Time to Accelerate your Data & Analytics Journey is Now on the maturity of data and analytics capabilities and future outlook across enterprises. The study, based on a WNS-commissioned survey conducted by Forrester Consulting, was designed to explore the role that data, analytics, and AI play in helping organizations achieve their strategic goals, and to highlight the challenges they face in becoming a data-driven enterprise. The survey polled 450 CXOs and senior decision-makers in the US, Europe, and APAC representing key industries including banking and financial services, consumer packaged goods, insurance, life sciences, manufacturing, retail, and new age digital/ hi-tech businesses.
The study reveals that while 63 percent of decision-makers recognize data and analytics as a key strategic enabler, only 37 percent are prioritizing investment in better data and analytics capabilities. This highlights the enormous potential to act further on business intent. Importantly, 68 percent are planning to ramp up internal capabilities, grow their talent pool, and adopt cloud solutions and data commercialization. The study underscores the need for organizations to build agility and scalability through cloud-based analytics. Today, 31 percent of the respondents are in the process of moving towards a cloud-first approach, with the development of cloud-based analytics capabilities being a key priority in their strategy.
To drive higher data and analytics maturity, firms are prioritizing investment in data fabric / virtualization tools, data lake and data stream processing. Organizations with higher maturity levels are taking greater strides towards developing cloud-based analytics capabilities.
"According to the survey, 82 percent of organizations with an advanced maturity level have experienced positive year-on-year growth over the past three years," said Keshav R. Murugesh, Group CEO, WNS. “Clearly, data and analytics maturity, including robust AI and cloud-based solutions, is a key enabler of business performance and organizational resilience in the new normal. At WNS Triange (formerly WNS' Research and Analytics Unit), we are partnering with global businesses in their data-to-insights journey by leveraging the power of domain, AI / ML and intelligent cloud platforms to co-create future-ready solutions."
Significant opportunities lie ahead for data and analytics-driven businesses to flourish. This is due to the increasing diversity and sophistication of data and analytics processes that rely on emerging AI and ML technologies. Data and analytics are key to staying ahead of the competition, and third-party service providers are key enablers in this journey.
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