The turbulence in the global economy today has compelled organizations to operate under unparalleled competitive and regulatory pressures. Many markets are now mature, with shrinking decision cycles and a short time-to- market. Whether it is a bank, a retail chain or a manufacturing company, decisions need to be based on accurate and insightful data. It helps further if the data can provide some insights into future trends as well. Analytics, therefore, has become an integral part of the business plan of any organization. Analytics goes beyond just data and can help to analyze the business environment accurately and predict future trends. The banking and financial services industries were early adopters of outsourcing analytics services. However, given the competitive nature of many markets, there is a growing need for analytics from other industries such as insurance, telecom, media etc. This paper aims to analyze customer needs in terms of analytics services and the critical factors they should consider before outsourcing these services.

Contributors: Tata Consultancy Services
Categories: Whitepaper
SRC Type: Benchmarking and Analysis, Outsourcing, Procurement Operations