Improving the use of data and analytics is a top strategic priority for many companies. But organizations face major challenges ramping up their information management capabilities — in particular due to the combination of a brutal proliferation of new or enhanced technologies, emerging data sources, and difficulty in finding skilled people with the appropriate experience. As a result, companies are increasingly looking to service providers for help.
Please note that we use the term “data services” to refer to broader engagements (including data delivery, analysis, management, or governance-related services), while “data management services” form a smaller subset of services relating to finding, collecting, migrating, and integrating data.
Here are three of the key findings from our research:
- More than two-thirds of organizations expect their spending on data management services to increase; 41% stated they expect spending to increase 5% to 10% in the next 12 months.
- Demand for improved quality is the No. 1 reason organizations look to data management service providers.
- The most frequently stated area for the use of third parties was in the emerging technology services segment, particularly around big data and analytics — 69% of respondents stated they currently use or will use a service provider.
Clients can find more details and our best practices by reading these reports. Let us know what you think: Do these findings concur with your priorities for 2014? Are you looking to work with service providers for your data initiatives?