Business Intelligence and Analytics, The Top Priorities for CIOs

On September 10, 2009, IBM released a global study of approximately 2,500 CIOs about their top priorities for the next 12 months. Business Intelligence and Analytics were the clear winner.

83% of attending CIOs plan to improve their business intelligence and analytics solutions to enhance their business competitiveness. The main reason for this is the ability to better see patterns in their huge amount of data stored in ERP and other data bases.

This survey is based on the largest number of face-to-face interviews with CIOs ever conducted. The results are published in the just released Global CIO Study 2009. With the help of new BI players in the market, prices for excellent business intelligence tools came down substantially and now even small and mid size companies can afford to implement a business intelligence tool.

CIOs from 78 countries and 19 different industries have been interviewed. The study, titled “The New Voice of the CIO” is therefore extremely real as these CIOs represent not only large organizations, but also small and mid-size companies.

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.

Apart from their top priority for data analytics, the survey shows that data reliability and security are of raising concern for the CIOs. 71% of the interviewed CIOs. are planning to make additional investments in risk management and compliance.

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.

Herbert Schoenek has been a leader in the Business Intelligence industry for 28 years. He was involved in several hundreds of BI implementations in many different countries. His newest Business Intelligence product is called BDA and this is exactly the right solution for the current economy as it is inexpensive, fast to implement and very easy to use. Register for a Webdemo today.

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