To gain competitive advantage in these new markets
Business intelligence and analytics is now the top priority for CIOs to gain competitive advantage and improve business decision-making, according to a study by IBM.
The study, ‘The New Voice of the CIO’ represents the insights and vision of 2,500 CIOs from 78 countries and 19 industries. It shows that more than four out of five (83%) respondents identified business intelligence and analytics, as the way they will enhance their organisations’ competitiveness.
The study also revealed that data reliability and security have emerged as increasingly urgent concerns, with 71% of CIOs planning to make additional investments in risk management and compliance.
CIOs are also continuing on the path to lower energy costs with 76% undergoing or planning virtualisation projects and 76% of CIOs anticipate building a centralised infrastructure in the next five years. Furthermore, more than half of the CIOs are planning to implement completely standardised, low-cost business processes.
According to the study, even as CIOs build these standardised low-cost infrastructures, they are able to focus 55% of their time on activities that drive innovation and growth, whereas traditional IT tasks like infrastructure and operations management now consume only 45% of their time.
Pat Toole, CIO of IBM, said: CIOs are investing in business analytics capabilities to help them improve decision-making at all levels. 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 healthcare systems. Managing and leveraging new intelligence through analytics is something that today’s CIO is pursuing to gain competitive advantage in these new markets.
In the study, CIOs also identified the top visionary projects that they are working on, ranging from process improvement to taking advantage of technologies that can provide financial impact, such as: business intelligence and analytics, virtualisation and green IT, service oriented architectures (SOA), service management, and cloud computing. CIOs are also focusing on mobility solutions and unified communications, collaboration and social networking tools, and Web 2.0 projects.