The Forrester Wave™: Document Mining And Analytics Platforms, Q2 2024
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
No vendors were added in this report.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
No vendors were dropped in this report.
This evaluation assessed 14 document mining and analytics platforms providers using 25 criteria. The market is experiencing acceleration in innovation driven by generative AI, particularly in areas like conversational UI, though end-to-end document mining remains a challenging human-in-the-loop (HITL) process. The evaluation emphasized the importance of UX for accuracy verification, out-of-the-box industry accelerators, and controlled implementation of generative AI with proper guardrails.
A: Vendors may decline to participate in the full Forrester Wave evaluation process for various strategic reasons. Non-participating vendors (AWS, Microsoft, SS&C Blue Prism, and SAS) are scored in accordance with Forrester's vendor participation policy and their positioning is published along with participating vendors. The report notes that some vendors like EdgeVerve struggle with broader market penetration despite having advanced capabilities, while others like Automation Anywhere lag in customer adoption of document-centric process automation despite having excellent overall automation capabilities.