Business Intelligence Strategies for the CIOOperational efficiency continues its reign as the top driver of spending on BI technology, according to a survey. But improving customer service and getting competitive advantage are gaining ground.
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Operational efficiency reigns as top BI spending driver
Operational efficiency continues its reign as the biggest spending driver for investments in business intelligence (BI) technology and analytics software, according to the survey. It was cited by 61% of the respondents, making this the fourth straight year that operational efficiency has topped the list. However, it was chosen by fewer respondents this year than last year, when 71% selected improved efficiency as one of their top three spending drivers.
Meanwhile, some other spending drivers made big leaps in this year’s survey. Improving customer service was cited by 43% of the respondents this year, compared with 30% in 2010), and gaining competitive advantage was tapped by 38% this year, up from 29% a year ago. That isn’t surprising given the still-sluggish economy, which puts a premium on effective customer service. In addition, the growth of social networks is prompting more businesses to get involved with social media analytics in order to track what clients and potential customers are saying about them online.