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Value Index examines how vendors' products will actually work across product and customer experience compared to other approaches that look at the vendors' efforts in market vision and execution.
BEND, OR, March 25, 2021 /24-7PressRelease/ -- Ventana Research today released its 2021 Value Index on Analytics and Data, a quantified, research-based index evaluating technology providers and products. This Value Index assesses 18 vendors' products using our Analytics and Data blueprint, evaluating software in seven key categories that are weighted based on our expertise and research to reflect buyers' needs. The structure of the Value Index reflects our understanding that proper evaluation involves far more than just examining product features, potential revenue or customers gained. We believe it is important to take this comprehensive research-based approach, since making the wrong choice of technology can raise the total cost of ownership, lower return on investment and hamper an organization's ability to reach its performance potential.
Using the Value Index, businesses can mitigate risk and reduce the time it takes to assess and select analytics and data software. Ventana Research's Value Indexes are the result of decades of experience and over 18 years of research and knowledge of the market for analytics and data software. It provides an in-depth analysis of technology suppliers' products, evaluating their strengths and gaps compared to competitors' products.
The Value Index for Analytics and Data is based on a comprehensive examination of 18 vendors' products in seven evaluation categories, five that evaluate the products' experience and the ability to support the breadth and depth of business and technology needs for analytics and data and two that address customer experience and the supporting vendor validation and total cost of ownership/return on investment.
The 2021 Value Index for Analytics and Data identifies the companies that deliver the highest value based on an overall weighted evaluation and the rating of the vendor for product and customer experience. The Overall Value Index Leaders in the 2021 Value Index are IBM, MicroStrategy and Information Builders. Companies that rank in the top three in any category earn the designation Value Index Leader. Qlik has done so in four of the seven evaluation categories and IBM and MicroStrategy have done so in three of the seven categories; Board, Information Builders, Oracle, SAP and Yellowfin are a Value Index Leader in two categories and Tableau is a leader in one category.
The Value Index, through the thorough analysis of product and customer experience, has categorized vendors into four classifications: Exemplary, Innovation, Assurance and Merit. We found six vendors rated as Exemplary: Board, Domo, IBM, Information Builders, Qlik and MicroStrategy; Innovative: Microsoft, Oracle and Yellowfin; Assurance: Infor, SAP, SAS and Tableau; Merit: Amazon, Looker, Sisense and ThoughtSpot. The Value Index leaders for overall product experience across five categories are MicroStrategy, IBM and Oracle. Leaders in customer experience across two categories are SAP, Qlik and IBM. Criteria for inclusion in the Value Index include minimum annual revenue, countries of operations and product areas of support for analytics and data software, which are outlined in more detail within the report.
The Value Index is not just a listing of vendors or a selection of "cool" products; rather than evaluating a vendor primarily on its vision or market execution, the Value Index provides specific numerical ratings, both overall and for each of the seven components of the Value Index, for technology buyers to consider. Organizations can also use the Value Index as a guide to assess existing technology providers and determine if their provider best meets their needs today and in the future.
"Our research finds that analytics and data software vendors continue to enhance and expand their capabilities either through organic developments or mergers and acquisitions creating more complete offerings to help meet organizations' needs," said Dave Menninger, SVP and Research Director at Ventana Research. "One of the key areas of development, which we expect to continue, is the use of artificial intelligence and machine learning to make it easier to perform data and analytics processes."
"The value of analytics and data technology is an essential priority and the evaluation criteria and methods used are less than effective in most organizations.", said Mark Smith, CEO and Chief Research Officer at Ventana Research. "Our Value Index examines how vendors' products will actually work and it also examines the product and customer experience compared to other approaches that look at the vendors' efforts in market vision and business execution which has no bearing on the relevance of the vendor for their organization."
The Analytics and Data Value Index is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research's mission to provide value to business and IT through advisory services, benchmark assessments and workshops. Ventana Research's goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. To learn more and read the market report of the 2021 Value Index for Analytics and Data, please visit https://www.ventanaresearch.com/value_index/analytics/analytics_and_d ... eport/2021.
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook and LinkedIn. To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
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