This document provides data from the 2013 Analyst Value Survey conducted by Kea Company. It includes responses from 352 participants on their views and usage of various analyst services. The data shows that both vendors and buyers highly value most major analyst firms' research, events, advisory services, and other offerings. There are some minor differences in how the two groups view the influence and value of certain firms. The document also provides charts analyzing responses on topics of interest and most valuable analysts.

1. Analyst Value Survey
#ARFORUM
August-September 2013
Note: These charts were shown at the Analyst Relations
Forum on October 2013. They are not a record of the
presentation and discussion. The comments have been
added subsequently to inform the reader.
Send queries to duncan.chapple@keacompany.com
Copyright Kea Company 2013

2. 352 responses (2012: 175)
Average participant answered 67% of questions
#ARFORUM
Copyright Kea Company 2013

3. Responses
• 2013 edition of survey launched in 2000
– Only longitudinal survey of analysts’ users
#ARFORUM
• The data show the opinions of the respondents
• No claim that the responses are representative of
non-respondents
• Slice of data for the AR Forum
– Excludes responses from analysts
– Data are open to different interpretations
Copyright Kea Company 2013
Note:
This
commentary
slide
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4. 0.0%
Research/data
Events
10.5%
Inquiry
calls
35.0%
37.6%
5.2%
10.5%
High
Very
High
Very
Low
Reprint
rights
Copyright Kea Company 2013
16.5%
5.1%
7.5%
Very
High
Very
Low
33.3%
35.2%
Advisory
/
strategy
days
Very
High
6.3%
28.6%
High
5.4%
Very
Low
34.8%
27.4%
Very
High
Medium
33.3%
High
25.0%
23.9%
Medium
7.6%
29.5%
31.4%
20.0%
11.4%
20.8%
34.0%
22.6%
10.3%
Low
Low
37.1%
21.9%
15.1%
29.6%
High
2.9%
35.7%
Medium
13.0%
18.1%
17.9%
Medium
29.2%
37.7%
53.3%
ICT
Solu5on
Provider/Vendor
Low
22.9%
6.0%
3.4%
7.6%
Very
Low
Low
5.2%
2.8%
31.0%
High
20.8%
40.0%
Very
High
42.2%
2.6%
9.4%
Very
Low
Medium
45.2%
Very
High
36.4%
50.0%
19.0%
40.0%
High
6.5%
60.0%
Low
12.2%
30.0%
Medium
2.6%
2.8%
20.0%
Low
10.0%
0.9%
0.0%
#ARFORUM
Very
Low
Services
Not
ICT
Solu5on
Provider/Vendor
100.0%
90.0%
80.0%
70.0%
Peer
communi5es

5. Users rate a wide range of
analysts’ services highly
#ARFORUM
• All six of analysts’ key services are valued
high/very high by most respondents
• Interesting to segment ICT vendors from
others (public, private and third sector)
– Even reprints are useful
• Not shown in this chart, but cross-tabs suggest
especially high take-up of free-access research
by the public sector
Copyright Kea Company 2013
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commentary
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6. Research
Most
Valuable
1.8
Gartner
1.6
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
1.4
HfS
Research
1.2
1
Everest
Group
Forrester
NelsonHall
0.8
IDC
0.6
0.4
Saugatuck
Aberdeen
Group
Ovum
CEB/TowerGroup
451
Group
/
Tier
1
Datamonitor
Other
0.2
Aite
Group
Celent
Frost
&
Sullivan
ABI
Research
ISG
0
Current
Analysis
EMA
0.2
0.4
0.6
0.8
1
RedMonk
0
Technology
Business
ICT
Solu1on
Provider/Vendor
Research
Ventana
Copyright Kea Company 2013
1.2
1.4
1.6
1.8

7. Vendors and buyers have
similar views
• Most of the firms most commented on in
the survey are used by both vendors and
buyers
#ARFORUM
– Interesting that firms focused on sourcing
are rated highly by readers
• Strong performance by Everest, HfS and
NelsonHall, but against a lower number of
commenters
– Few notable divergences in valuation
• Aberdeen, Saugatuck, 451, Frost
Copyright Kea Company 2013
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8. Report
Topics
2.00
Outsourcing
1.80
Strategy
CRM
&
Customer
Service
Soware
IT
Services
E-­‐Commerce
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
1.60
1.40
Other,
please
specify...
1.20
Telecoms
Equipment
Broadcas5ng
&
Cable
Channels
IT
Administra5on
1.00
0.80
0.60
Computer
Equipment
Law
&
Policy
BPM
Big
Data
Cloud
Applica5ons
Cloud
Pla[orms
Cloud
Infrastructure
Applica5on
Development
Security
&
Privacy
Telecoms
Services
Wireless
Data
Integra5on
Networks
PaaS
Soware
Database
Management
Internet
Applica5ons
0.40
0.20
Electronics
Languages
&
Opera5ng
Systems
I
don’t
read
or
ask
for
0.00
any
analyst
reports
0.00
0.20
0.40
Don’t
know
Publishing
0.60
0.80
1.00
1.20
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.40
1.60
1.80
2.00

9. Topics of interest also
well-aligned
• Vendors and buyers have broadly similar
interest in topics
#ARFORUM
– Outsourcing, big data, strategy, cloud, CRM
and customer services
• Few outliers
– Platform as a Service more important to
vendors (emerging technology?)
– Broadcasting and cable more important to
buyers (regulatory changes?)
Copyright Kea Company 2013
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10. Influence
on
Buyers
2.50
Gartner
2.00
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
Forrester
IDC
1.50
Other,
please
specify...
1.00
IDC
Manufacturing
Frost
&
Sullivan
Everest
Group
HfS
Research
Ovum
NelsonHall
ISG
Insights
IDC
Financial
Insights
Pierre
Audoin
Consultants
Yankee
Group
Current
Analysis
Datamonitor
0.50
Celent
GigaOM
CEB/TowerGroup
TABB
Group
Aberdeen
Group
Experton
Group
451
Group
Tier
1
Kable
Aite
Group
Kennedy
Saugatuck
RedMonk
Al5meter
DisplaySearch
0.00
0.00
0.20
0.40
0.60
0.80
1.00
1.20
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.40
1.60
1.80
2.00

11. Vendors may misestimate
a few firms’ influence
• Vendors likely to rate fewer firms as
influential
#ARFORUM
– Lower rating for IDC, and its Manufacturing
and Financial Insights business
• Vendors more likely to rate Aberdeen
Group, Datamonitor and Display Search
Copyright Kea Company 2013
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12. Influence
on
Investors
2.00
Gartner
1.80
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
1.60
IDC
Forrester
1.40
Other,
please
specify...
1.20
Everest
Group
1.00
0.80
Yankee
Group
GigaOM
0.60
Ovum
HfS
Research
ISG
Frost
&
Sullivan
NelsonHall
Technology
Business
451
Group
Tier
1
Research
IDC
Financial
Insights
TABB
Group
0.40
Aberdeen
Group
Celent
Datamonitor
IDC
Manufacturing
CEB/TowerGroup
Insights
Current
Analysis
Aite
Group
Saugatuck
Canalys
Analysys
Mason
0.00
Kennedy
0.20
0.00
DisplaySearch
0.20
0.40
0.60
Constella5on
Research
0.80
1.00
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.20
1.40
1.60
1.80

13. Influence on investors takes
different forms
• This was the most discussed chart at the
event. Different research may influence
different investors
#ARFORUM
– Gartner is felt to be, by far, the biggest
influence on public firms
– A wider range of firms are reflected in equity
research, including IDC, Forrester and
boutique firms
– Investors in vendors may use different
research from investors in enterprises
Copyright Kea Company 2013
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14. Influence
on
Journalists
2.00
Gartner
1.80
IDC
Forrester
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
1.60
1.40
Ovum
HfS
Research
1.20
NelsonHall
Other,
please
specify...
1.00
Everest
Group
Aberdeen
Group
Pierre
Audoin
451
Group
Tier
1
Consultants
0.80
Datamonitor
Experton
Group
GigaOM
Informa
RedMonk
IDC
Financial
Insights
Constella5on
Research
CEB/TowerGroup
Enderle
0.60
Celent
Technology
Business
Strategy
Analy5cs
Yankee
Group
ISG
Research
Frost
&
Sullivan
IDC
Manufacturing
0.40
Insights
iSuppli
Corpora5on
Kable
EMA
DisplaySearch
Kennedy
0.20
Quocirca
ESG
Saugatuck
Canalys
Bloor
Research
Group
TABB
Group
Aite
0.00
Al5meter
0.00
0.20
0.40
Current
Analysis
0.60
0.80
1.00
1.20
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.40
1.60
1.80
2.00

15. Much agreement over who
influences journalists
• “Other, please specify” [the write-in
option for firms beyond the 50 options]
does especially well here
#ARFORUM
– Substantial niche leadership
– Constellation, Frost, Quocirca and TABB
more visible to vendors
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16. Which
firms
influence
you?
2.50
Gartner
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
2.00
IDC
Forrester
HfS
Research
NelsonHall
1.50
Ovum
Everest
Group
Other,
please
specify...
451
Group
Tier
1
Pierre
Audoin
Consultants
Frost
&
Sullivan
1.00
Technology
Business
RedMonk
ISG
Research
Constella5on
Research
Aberdeen
Group
Bloor
Research
CEB/TowerGroup
Yankee
Group
IDC
Manufacturing
GigaOM
ESG
Canalys
Current
Analysis
Insights
Informa
Celent
0.50
Experton
Group
EMA
IDC
Financial
Insights
Ventana
Aite
Group
Analysys
Mason
Infone5cs
Strategy
Analy5cs
Greyhound
Research
DisplaySearch
0.00
0.00
Kennedy
0.20
Hurwitz
&
Associates
Quocirca
0.40
TABB
Group
Saugatuck
0.60
Datamonitor
0.80
1.00
1.20
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.40
1.60
1.80
2.00

17. Users report a wide range of
sources
• Some very wide divergences
#ARFORUM
– Buyer rate PAC, Ovum, TBR and Redmonk
more highly
– Vendors rate Datamonitor, Aberdeen Group
and Saugatuck more highly
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18. Most
independent?
1.80
Gartner
1.60
IDC
#ARFORUM
Not
ICT
Solu1on
Provider/Vendor
1.40
Forrester
NelsonHall
HfS
Research
Ovum
451
Group
Tier
1
1.20
Other,
please
specify...
1.00
RedMonk
Pierre
Audoin
0.80
Consultants
Kable
Frost
&
Sullivan
ISG
Celent
CEB/TowerGroup
Everest
Group
Constella5on
Research
0.60
Current
Analysis
Ventana
Technology
Business
Infone5cs
Yankee
Group
Research
Bloor
0.40
Group
Research
Aite
Canalys
Al5meter
GigaOM
IDC
Financial
Insights
Informa
Datamonitor
0.20
Aberdeen
Group
ABI
Research
Saugatuck
0.00
BARC
0.00
0.20
0.40
0.60
0.80
1.00
ICT
Solu1on
Provider/Vendor
Copyright Kea Company 2013
1.20
1.40
1.60

19. Independence is aligned with
use by respondents
• Very high score for ‘Other’ is notable
• Vendors less likely to rate firms as
independent
#ARFORUM
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20. The
firms
most
reported
to
have
risen
in
influence
by
respondents
to
the
2013
analyst
value
survey
HfS
Research
Gartner
NelsonHall
Forrester
451
Group
Tier
1
IDC
#ARFORUM
Other,
please
specify...
Everest
Group
Ovum
Constella5on
Research
Pierre
Audoin
Consultants
Frost
&
Sullivan
GigaOM
RedMonk
Copyright Kea Company 2013

21. HfS, Gartner, NelsonHall and
Forrester said to rise
• Rather a small number of firms are
thought to have risen in influence this
year
#ARFORUM
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22. Influence
on
Journalists
&
Buyers
2.5
Gartner
Forrester
2
HfS
Research
NelsonHall
Everest
Group
Ovum
Other,
please
specify...
#ARFORUM
Influence
on
Buyers
1.5
ISG
Frost
&
Sullivan
Aberdeen
Group
IDC
Manufacturing
Yankee
Group
Insights
Celent
Datamonitor
IDC
Financial
Insights
Current
Analysis
TABB
Group
GigaOM
451
Group
Aite
Group
Pierre
Audoin
CEB/TowerGroup
Tier
1
Kennedy
Experton
Group
RedMonk
Consultants
Saugatuck
EMA
Constella5on
Research
Al5meter
DisplaySearch
Technology
Business
Kable
Quocirca
Research
ESG
Bloor
Research
iSuppli
Corpora5on
Enderle
Ventana
Canalys
1
0.5
0
0
-­‐0.5
IDC
0.5
Informa
Strategy
Analy5cs
1
1.5
Influence
on
Journalists
Copyright Kea Company 2013
2
2.5

23. Media and sales influence are
not so strongly aligned
#ARFORUM
• ISG, Everest and NelsonHall seem to
punch below their weight with the media
• Enderle, Constellation and iSuppli punch
above their weight with the media
Copyright Kea Company 2013
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