Limitations of organic growth are forcing companies to look at innovative ways to improve market share and profitability. Business transformation strategies are evolving more rapidly than any time in the past. For any of these transformation plans, be it: M&A, new product introduction, geographical expansion and others to succeed, the CIO office needs to play a key role. Let us analyze some perspectives with which CIO could look at these strategies and proactively work with the business.
A recent study by the Nucleus Research says that Analytics pays back $10.66 for every dollar spent. The study is based on data from 60 case studies and relates to investments in Business Intelligence, Performance Management and Predictive Analytics. Not surprising are the areas where they saw ROI increase - revenue, gross margin and expenses.
Best-in-Class Analytics Innovation Case Study…Interesting article about P&G and Business Analytics from InformationWeek, Feb 6, 2012. Illustrates the way Business Analytics is becoming more central as decision making speeds up.
Current BI landscape is cluttered with too many tools and technologies. The plain vanilla BI deployments rarely produce desired results. This leaves IT teams to a mere data steward role rather being a potential business partner. Primary inhibiting factors are: exponential data growth, lack of best practices and leveraging prior experience.