Role of analytics in BPO

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Information about Role of analytics in BPO
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Published on March 11, 2014

Author: everestgrp

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Market Report: November 2013 – Preview Deck: Market Report: November 2013 – Preview Deck Topic: Analytics Business Process Services (BPS) – Deciphering the Analytics Code Copyright © 2013, Everest Global, Inc. EGR-2013-10-PD-1002 Our research offerings for global services: Our research offerings for global services Subscription information The full report is included in the following subscription(s) FAO, PO, and HRO In addition to published research, a subscription may include analyst inquiry, data cuts, and other services If you want to learn whether your organization has a subscription agreement or request information on pricing and subscription options, please contact us: Corporate Headquarters Office: +1-214-451-3000 info@everestgrp.com European Headquarters Office: + 44-207-129-1318 unitedkingdom@everestgrp.com 1 Banking, financial services, and insurance Custom research capabilities Benchmarking | Pricing, delivery model, skill portfolio Peer analysis | Scope, sourcing models, locations Locations | Cost, skills, sustainability, portfolio – plus a tracking tool Tracking services | Service providers, locations, risk Other | Market intelligence, service provider capabilities , technologies, contract assessment Finance & accounting Procurement Human resources Recruitment process PricePoint TM Global sourcing Locations Insider TM Contact center Transaction Intelligence Healthcare information technology Information technology Cloud Vista TM BFSI 1 business process BFSI 1 information technology Market Vista TM Global services tracking across functions, sourcing models, locations, and service providers – industry tracking reports also available Table of contents (page 1 of 2): Table of contents (page 1 of 2) Background and methodology 5 Executive summary 7 Summary of key messages 8 Implications for key stakeholders 11 Section I: Understanding analytics 12 Summary 13 Definition and building blocks 14 Levels of analytics 15 Analytics process chain 16 Analytics solution components 17 Section II: Market overview 19 Summary 20 Market size and growth 21 Adoption trends by buyer geography and industry 22 Value proposition, drivers, and challenges 24 Section III: Solution characteristics 27 Summary 28 Solution types and objectives 29 Topic Page no. Table of contents (page 2 of 2): Table of contents (page 2 of 2) Section III: Solution characteristics (continued) Scope 31 Technology architecture and model 32 Global sourcing 34 Pricing 35 Section IV: Service provider landscape 36 Summary 37 Analytics BPS service provider landscape and focus areas 38 Service provider solution offerings 39 Factors affecting choice of analytics provider 45 Investments themes in analytics 46 Appendix 47 Analytics solutions in the market 48 Service provider investments in analytics 50 Glossary of terms 56 References 57 Topic Page no. Background and methodology of the research: Background and methodology of the research Background of the research Analytics has moved from hype to reality sooner than expected. Increasingly affordable data storage systems, and ever increasing use of Internet , mobile, and social media are driving synthesis and assimilation of colossal amounts of data. This is, in turn, pushing organizations to explore means to process this structured and unstructured data effectively and obtain meaningful insights that can enable better-quality decision making. Consequently, companies are leveraging analytics to assess the business environment accurately, understand customer needs, streamline and automate processes, identify underlying patterns, and predict future trends. In this research, we analyze the current trends, key applications, and broad service provider landscape for Analytics Business Process Services (BPS). We focus on: Understanding analytics: Key elements, processes, functions, and deployment areas Market size, value proposition, key drivers, and challenges Analytics solution characteristics Major service provider categories and capabilities The scope and methodology of this report includes: Analytics BPS offered by either BPO providers or analytics-focused specialists. It excludes pure IT services implementation of an analytics solution Coverage across all major industries and functional areas Overview and abbreviated summary of key messages (page 1 of 2): This report aims to increase the understanding of the analytics BPS market. The report covers market size and growth, value proposition, key applications, contract characteristics and service provider landscape for Analytics BPS. The report also highlights implications of analytics trends for buyers and service providers and factors affecting the choice of analytics provider. Understanding analytics Market overview Overview and abbreviated summary of key messages (page 1 of 2) Analytics BPS market is around US$1.5 to 2 billion in size and growing at a rate of over 30% The United States leads analytics BPS adoption with over 70% market share. Consumer Packaged Goods (CPG) & retail and Banking Financial Services & Insurance (BFSI) are the most mature adopters of analytics BPS Some of the findings in this report, among others, are: Analytics solutions have an IT aspect and a BPS aspect. This study focuses on the BPS aspect of the analytics solution There are four different levels of analytics based on solution sophistication and business impact. These are reporting, descriptive analytics, predictive analytics, and prescriptive analytics The analytics value chain consists of five distinct phases – data collection & cleaning, interpretation & analysis, reporting & visualization, adjustment & enhancement, and implementation Overview and abbreviated summary of key messages (page 2 of 2): Solution characteristics Service provider landscape Analytics BPS solutions can be either industry-agnostic horizontal solutions or vertical-specific, with the latter having greater adoption than the former Current adoption is primarily focused around reporting and descriptive analytics The technology architecture of an analytics solution is complex and comprises data storage and integration systems, core statistical/analytical tools, and user interface & visualization tools India is the most mature location from delivery perspective The analytics BPS provider landscape is evolving rapidly. It can be divided into BPO providers and analytics-focused specialists Various service providers are investing in analytics along four major dimensions – developing Big Data-handling capabilities, developing sophisticated prediction and prescription capabilities, growing industry-specific scale and expertise, and focusing on risk management solutions-based work Overview and abbreviated summary of key messages (page 2 of 2) This study offers four distinct chapters providing a deep dive into key aspects of the FAO market; below are four charts to illustrate the depth of the report: This study offers four distinct chapters providing a deep dive into key aspects of the FAO market; below are four charts to illustrate the depth of the report Understanding analytics Market overview Solution characteristics Service provider landscape Source : Everest Group (2013) Analytics value chain Define business objective 1. Collect and clean data 2. Analyze and interpret 3. Report and visualize 4. Adjust and enhance 5. Implement and operationalize Global analytics BPS industry size and growth Annual revenue (US$ billion) Analytics solutions landscape Horizontal solutions Finance and accounting Procurement HR S upply chain management CPG & retail BFSI Health- care Pharma-ceuticals Media & techno-logy Vertical solutions Service provider 10 Service provider 6 Service provider 5 Under 1,000 FTEs 1,000-2,000 FTEs Over 2,000 FTEs Increasing analytics BPS scale Increasing level of solution sophistication (Percentage FTEs engaged in predictive and prescriptive analytics) Less than 40% Greater than 40% Service provider 1 Service provider 3 Service provider 8 Service provider 2 Service provider 7 Service provider 4 Service provider 14 Service provider 9 Service provider 13 Service provider 16 Service provider 17 Service provider 11 Service provider 12 Service provider 15 Low sophistication High sophistication Analytics BPS scale by level of solution sophistication Analytics process chain Analytics solution landscape Additional analytics-focused research references: Additional analytics-focused research references The following documents are recommended for additional insight on the topic covered in this report . The recommended documents either provide additional details on the topic or complementary content that may be of interest Analytics in Banking – War is Ninety Percent Information ( EGR-2013-11-R-0888 ) . This report provides a comprehensive understanding of the analytics services industry with focus on banking domain. Analytics adoption in the banking industry is covered in depth, exploring various aspects such as market size, key drivers, recent analytics initiatives, and challenges. The report also analyses the trends in analytics deals for various banking subverticals (cards, retail, commercial, and lending) and evaluates analytics capabilities of 20+ service providers in the banking space. Creating Value through Analytics in HR ( EGR-2013-3-R-0930 ). This report examines the role of analytics in HR and identifies the ways to capture its value within an outsourcing construct. For more information on this and other research published by Everest Group, please contact us: Rajesh Ranjan, Vice President: Abhishek Menon , Practice Director: Vishnu Khandelwal, Senior Analyst: BPO Team: Phone: +1-214-451-3110 Email: info@everestgrp.com Everest Group Two Galleria Tower 13455 Noel Road, Suite 2100 Dallas, TX 75240 rajesh.ranjan@everestgrp.com abhishek.menon@everestgrp.com vishnu.khandelwal@everestgrp.com BPOresearch@everestgrp.com

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