Nashville Tech Story (11/4/09)
The business of analytics is growing dramatically as we expand our informational needs for an organization. Analytics can be thought with regard to intelligence for the business, information, content management (structure and unstructured), and predictive (statistical). There are a plethora of products in each of these four quadrants of analytical tools.
A new global study of more than 2,500 Chief Information Officers (CIOs), released by IBM in September, reveals that leveraging analytics to gain a competitive advantage and improve business decision-making is now the top priority for CIOs. More than four out of five (83 percent) survey respondents identified business intelligence and analytics – the ability to see patterns in vast amounts of data and extract actionable insights – as the way they will enhance their organizations’ competitiveness.
These results and other insights are detailed in the just-released Global CIO Study 2009, which is the largest face-to-face survey of CIOs ever conducted. The study, titled “The New Voice of the CIO,” represents the insights and vision of CIOs from 78 countries, 19 industries, and organizations of every size. The study reinforces the increasingly strategic role that CIOs are playing as visionary leaders and as drivers of innovation and financial growth.
With an increased focus on data analytics, the survey also revealed that data reliability and security have emerged as increasingly urgent concerns, with 71 percent of CIOs planning to make additional investments in risk management and compliance.
As a result of analytics, the CIO’s role is changing to include the following:
- Making innovation real
- Raising the ROI on IT
- Expanding the business impact.
Sign up today to join us for lunch on November 12, 2009, for the launch of the Analytics Group.
