A new global study of more than 2,500 Chief Information Officers (CIOs), released by IBM on September 10, 2009, reveals that leveraging analytics to gain a competitive advantage and improve business decision-making is now the top priority for CIOs.
Does it come as a surprise that the vast majority (83%) see business intelligence and analytics as their top priority for the next 12 months? Not really if you consider how important timely and accurate information is in this type of economy to not only gain a competitive advantage, but sometimes simply to survive as a business.
This result is really informative, as the survey is the largest face-to-face survey ever conducted with CIOs around the world. With new (smaller) BI players in the market, prices for excellent business intelligence tools came down substantially and are now affordable for any company, small or large, even if you have to work within a tight budget. It is not a matter whether you can afford a business intelligence and analytics system, it is simply essential for the success of your company to either buy or build one, or improve what you already have.
The study it titled The New Voice of the CIO and reveals that CIOs are playing now an increasingly strategic role and are acting as visionary leaders and drivers of innovation and overall company success. CIOs are currently re-defining their role.
CIOs are investing in business analytics capabilities to help them improve decision-making at all levels, said Pat Toole, CIO of IBM. In addition, in this challenging economy, CIOs understand that analytics can be key to new growth markets,whether it's new ways to manage a utility grid or smarter health care systems.
71% of the attending CIOs of the survey plan to make additional investments in areas like risk management and corporate compliance. However, their top priority for the next 12 months is data analytics.
CIOs are increasingly recognized as full members of the senior executive team. They are more actively engaged in helping to set strategies and solving business problems, not only IT related problems.
So, using IT to produce greater business value is vital, bundled with an ongoing focus on lower cost and higher efficiency. This is why an improved business intelligence solution combined with a great analytics tool with excellent visualization is so important.
Does it come as a surprise that the vast majority (83%) see business intelligence and analytics as their top priority for the next 12 months? Not really if you consider how important timely and accurate information is in this type of economy to not only gain a competitive advantage, but sometimes simply to survive as a business.
This result is really informative, as the survey is the largest face-to-face survey ever conducted with CIOs around the world. With new (smaller) BI players in the market, prices for excellent business intelligence tools came down substantially and are now affordable for any company, small or large, even if you have to work within a tight budget. It is not a matter whether you can afford a business intelligence and analytics system, it is simply essential for the success of your company to either buy or build one, or improve what you already have.
The study it titled The New Voice of the CIO and reveals that CIOs are playing now an increasingly strategic role and are acting as visionary leaders and drivers of innovation and overall company success. CIOs are currently re-defining their role.
CIOs are investing in business analytics capabilities to help them improve decision-making at all levels, said Pat Toole, CIO of IBM. In addition, in this challenging economy, CIOs understand that analytics can be key to new growth markets,whether it's new ways to manage a utility grid or smarter health care systems.
71% of the attending CIOs of the survey plan to make additional investments in areas like risk management and corporate compliance. However, their top priority for the next 12 months is data analytics.
CIOs are increasingly recognized as full members of the senior executive team. They are more actively engaged in helping to set strategies and solving business problems, not only IT related problems.
So, using IT to produce greater business value is vital, bundled with an ongoing focus on lower cost and higher efficiency. This is why an improved business intelligence solution combined with a great analytics tool with excellent visualization is so important.
About the Author:
Herbert Schoenek has been a top manager in the Business Intelligence industry for 28 years. He was involved in several hundreds of BI implementations in 12 different countries. His newest Business Intelligence offering is called BDA and this is exactly the right solution for the current economy as it is inexpensive, fast to implement and extremely easy to use. Register for a Product-Demo today.
