Vendors are in a race to enhance their products with augmented analytics capabilities, such as natural language processing and automated machine learning assistance.
BEND, OR, September 18, 2023 /24-7PressRelease/ — Today, Ventana Research released its 2023 Buyers Guide for Augmented Analytics, a comprehensive report that evaluates technology providers and their products using research-based quantitative metrics. The Buyers Guide uses a Value Index methodology to assess 22 vendors’ products in seven key categories, reflecting the needs of buyers in the field of augmented analytics.
Over the years, organizations have been using business intelligence (BI) software to improve their operations and analyze data. While BI products have become more advanced with interactive visualizations and the ability to handle large volumes of data, organizations are now looking for more. The adoption of artificial intelligence and machine learning (AI/ML) has gained popularity, and many organizations plan to incorporate these technologies into their operations.
However, integrating AI/ML into BI software has proven to be challenging. AI/ML requires specialized skills that many analysts and organizations lack. Consequently, AI/ML software products have developed independently from BI. For the foreseeable future, AI/ML approaches and BI approaches will remain separate, requiring organizations to maintain multiple skill sets.
To bridge this gap, BI software vendors have focused on making AI/ML more accessible through augmented analytics capabilities. These capabilities combine AI/ML with BI software to provide augmented analytics or augmented intelligence.
“Vendors are in a race to add augmented analytics capabilities, including natural language processing and automated machine learning assistance, to their products. However, there is confusion about which capabilities are ready to be utilized,” said David Menninger, SVP and Research Director at Ventana Research. “The Buyers Guide provides an objective and comprehensive assessment of vendors and products, helping organizations distinguish between offerings based on product and customer experiences.”
The Buyers Guide evaluates the following vendors in the field of augmented analytics: Amazon Web Services (AWS), Domo, GoodData, Google, IBM, Idera, Incorta, Infor, insightsoftware, Microsoft, MicroStrategy, Oracle, Pyramid Analytics, Qlik, SAP, SAS, Sigma Computing, Sisense, Tableau Software, ThoughtSpot, TIBCO, and Zoho.
According to the research, Oracle is ranked first, followed by SAP in second place and IBM in third. Vendors that rank in the top three of a category are designated as Leaders. Oracle leads in six out of seven categories, SAP leads in five, and IBM leads in four. Domo and Qlik each lead in two categories, while Sisense and Tableau each lead in one category.
The research classifies vendors into four overall categories: Exemplary, Innovative, Assurance, and Merit. These categories are determined based on overall performance in Product Experience and Customer Experience. The vendors were awarded the following categories:
Exemplary – Domo, IBM, Oracle, Qlik, SAP, Tableau, and Zoho.
Innovative – Microsoft, MicroStrategy, Pyramid Analytics, and SAS.
Assurance – GoodData, Incorta, insightsoftware, and Sisense.
Merit – AWS, Google, Idera, Infor, Sigma Computing, ThoughtSpot, and Cloud Software Group.
The Ventana Research Buyers Guide for Augmented Analytics is the result of over a year of market and product research efforts. It provides an assessment of how well vendors’ offerings meet the requirements for augmented analytics software. The guide is structured to support the evaluation, selection, utilization, and maintenance of technology vendors through a request for information (RFI) that can be used in the request for proposal (RFP) process. An effective product and customer experience with a technology vendor can ensure a successful long-term relationship and value from the investment.
The research approach takes into account more than just product features, potential revenue, or vendor marketing and sales efforts. It aims to provide holistic research-based insights to help organizations make informed decisions and avoid potential issues that could raise costs and hinder performance. Additionally, this approach helps streamline the development and deployment process, as well as ensure the best fit for organizations.
“For decades, the industry has been working to provide more human-like intelligence to analytics, especially in the field of business intelligence,” said Mark Smith, CEO, and Chief Research Officer at Ventana Research. “The Buyers Guide focuses on what matters to enterprises, including evaluation categories like capability, adaptability, and usability, to ensure the effective adoption of the technology. Unlike other analyst firms that prioritize vendor marketing and sales or the future of the company, our research emphasizes product and customer experience, which ultimately determines the technology’s success.”
The Buyers Guide for Augmented Analytics is an independent and unbiased assessment conducted by Ventana Research. It is part of their mission to provide value to businesses and IT through research, consulting, advisory, and education services. To access the full Buyers Guide, please click here.
About Ventana Research
Ventana Research is a renowned market research and advisory services firm that provides insights and expert guidance on mainstream and disruptive technologies. Their offerings include benchmark research, technology evaluation assessments, education workshops, and research and advisory services through Ventana On-Demand. With in-depth knowledge of technology providers and a comprehensive understanding of the role of technology in optimizing business processes, Ventana Research aims to help organizations achieve optimal efficiency in their use of technology investments.
Ventana Research has a global community of business and IT professionals who benefit from their insights, and they collaborate with respected media and association partners to share their views and analyses. Their research is distributed through blogs and social media channels, including Facebook, LinkedIn, and X (formerly Twitter). For more information about Ventana Research and their services, visit www.ventanaresearch.com.
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