Top-Tier Data Strategy Firm NewVantage Partners Acquired by Wavestone

RADNOR, Pa., Jan. 25, 2022 /PRNewswire-PRWeb/ -- In December 2021, leading global IT consultancy Wavestone continued its growth model and expanded its offerings with the acquisition of top-tier data strategy firm NewVantage Partners (NVP) to deliver leading-edge expertise in data.

Founded in 2001, NVP brings with it over 20 years of experience of serving as trusted strategic advisors in data-driven business leadership to numerous blue-chip Fortune 1000 companies and industry leaders. With a shared dedication to delivering positive IT and digital outcomes that unlock business competitiveness and growth, this acquisition is the perfect fit and a beneficial development for Wavestone's existing and future customers.

"In this beautiful overlap of world-class data strategy capabilities provided by NVP and the comprehensive catalog of Digital Transformation and IT advisory services offered by Wavestone, customers get the expertise and support they need to understand the ripples of change, rapidly adapt to new challenges, and fully leverage their data to tap into game-changing opportunities as they emerge," says Reza Maghsoudnia, Strategic Development Director at Wavestone.

This strategic partnership also provides Wavestone clients unfettered access to key industry and business insights in data-driven transformation, emerging technologies, and more. One such example is NewVantage Partners' Data and AI Leadership Executive Survey, an annual survey recognized as an industry benchmark for tracking the adoption of big data and AI among Fortune 1000 businesses.

This year's edition is themed "The Quest to Achieve Data-Driven Leadership: A Progress Report on the State of Corporate Data Initiatives," which revealed a growing awareness of the Chief Data and Analytics Officer's role as the enabler and facilitator of business insights, strategies, and innovation.

Almost three-quarters of firms (73.7%) have appointed Chief Data or Analytics Officers or combined both into one role, and 40.2% of the firms participating in the survey consider the role "successful and established." This is a strong indicator that more and more organizations are seeing the economic value of AI and are striving to become more data-driven. NewVantage Partners, A Wavestone Company, is ready to help clients cut through complexities and provide them with what they need to make their digital, data, and AI transformations successful.

More highlights from the 2022 executive survey:

• Investment in data and AI initiatives continue to grow, with up to 92.1 % of respondents reporting that their efforts are starting to deliver measurable results.
• Achieving data-driven leadership remains an elusive aspiration for most organizations, with only 19.3% indicating that they have established a data culture.
• AI initiatives are accelerating, with 26% of the respondents reporting widespread use of AI—an improvement from 12.1% in 2021—but they remain a minority.
• Over 90% of executives point to culture as the greatest impediment to achieving this business outcome (for the fourth consecutive year).
• The CDO role has evolved to encompass analytics as an expanded CDAO function; 44.3% of CDAOs now come from a data analytics or data science background, contrasted with 29.1% from a data management or data governance background.
• Data ethics will be the next major frontier for leading organizations. 44.2% of the companies already have well-established policies and practices in place governing data and AI ethics, and the responsible use of data.

For more key data stories and actionable insights from NewVantage Partners, A Wavestone Company, head to https://www.newvantage.com/thoughtleadership.

ABOUT WAVESTONE
In a world where knowing how to drive transformation is the key to success, Wavestone's mission is to inform and guide large companies and organizations in their most critical transformations, with the ambition of a positive outcome for all stakeholders. That's what we call "The Positive Way."

Wavestone draws on some 3,500 employees across 12 countries. It is a leading independent player in the European consulting market. Wavestone is listed on Euronext Paris and recognized as a Great Place to Work®.

ABOUT NEWVANTAGE PARTNERS, A WAVESTONE COMPANY
Founded in 2001, NewVantage Partners (NVP) has served as strategic advisors in data-driven business leadership to a blue-chip roster of Fortune 1000 companies and industry leaders.

NewVantage Partners, A Wavestone Company delivers leading-edge expertise in data strategy, data governance, data management, and data security.

Their thought-leadership perspectives appear in leading publications, including Harvard Business Review, MIT Sloan Management Review, and Forbes.

Media Contact

David Palmer, Wavestone, 610-854-2700, [email protected]

SOURCE Wavestone