Six Building Blocks for Effective Benchmarking
There are six essential building blocks that need to be applied to elicit meaningful and insightful recommendations.
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Key Parameters
Service Areas
Key Parameters
Industry Groups
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Learn MoreIn 2023, several high-profile data breaches and cyberattacks strengthened and drove the growth of the U.S. cybersecurity market. Data breaches in 2023 catapulted to 3,205 compared to 1,802 in 2022, affecting over 353 million individuals with compromises, including data breaches, leakage and exposure. The healthcare sector remained the primary target, witnessing more than double the number of data breach incidents compared to 2022, followed closely by the financial services industry, which experienced 744 incidents and marked a substantial increase.
ISG research indicates that U.S. public sector organizations, including state, local and educational (SLED) agencies, are using colocation, managed hosting and hybrid cloud managed services 20 to 30 percent more than they were in 2020. This means that SLED agencies need more help than ever with private/hybrid cloud and data center environments.
The clinical trials landscape is undergoing a significant transformation with the rise of decentralized trial methodologies. A growing recognition of the limitations of traditional trial approaches, such as centralized site-based monitoring and patient visits, drives this shift. Decentralized trials offer a promising alternative by leveraging digital technologies to conduct certain trial activities remotely, including patient recruitment, consent, data collection and monitoring. This approach enhances patient convenience and participation and enables real-time data collection and analysis, leading to more efficient and cost-effective trials.
Enterprises are gradually recognizing the limitations and challenges of relying solely on public cloud services. As a result, they are shifting toward adopting private and hybrid cloud infrastructure solutions. Various factors, including concerns about data security, compliance requirements, performance optimization and the need for greater control over IT resources drive this transition. By embracing private and hybrid cloud environments, enterprises can enjoy the benefits of cloud computing while addressing specific operational, regulatory and security concerns more effectively. Therefore, ISG has observed that they are increasingly relying on hybrid cloud infrastructure, as it offers the required flexibility, scalability and agility along with the needed control over data residency, security and costs.
Today’s insurance industry is facing a tumultuous environment, which requires a paradigm shift in rating, quote, underwriting and bind, claims processing and settlement and policy servicing methodologies and practices. In order to achieve this, it is necessary to move away from legacy models by upgrading core systems and deploying advanced technologies that drive better outcomes and transparency. This will require a fundamental rethinking of the industry’s traditional insurance practices and processes and a commitment to modernizing systems and processes that have been in place for decades. By adopting these new approaches, insurers can better navigate the changing landscape, improve their risk management, acquire potential customers easily and cater to the existing policyholders’ fast-evolving and rapidly changing needs.