CIO Survey 2014 - hot topic: analytics
Who owns this critical area and how businesses are benefiting
A need for investment in this space highlighted.
Mixed levels of adoption and maturity in the use of analytics highlight a need for investment in this space. With less that 40% of CIOs piloting, implementing or adopting analytics in their organisation there is certainly room for improvement, although on a positive note, this is a higher uptake than the international benchmark. For those implementing analytics, the benefits are clear, with 45% of CIOs seeing analytics as giving them a competitive advantage.
A lack of clarity on ownership for analytics provides both a challenge and an opportunity for Irish CIOs, with the potential for them to move towards a more holistic insight and information driven role, beyond the traditional focus on delivering the technology capability for analytics.
The well-publicised analytics ‘talent crunch’ is also a key challenge for those wishing to commence or grow their analytics capability. Both the lack of a clear executive sponsor and the issues in obtaining the right talent, rank higher than budget and technological limitations as hindering adoption of analytics.
Other key highlights include:
- Less than 40% of Irish CIOs are piloting, implementing or adopting analytics in their organisation
- Of those using analytics 45% see it as giving them a competitive advantage
- More than one third don’t use analytics or do so in a way that has no clear alignment to business strategy
- More than fifth of Irish respondents either have limited responsibility for delivering analytics or say their role in delivering analytics is unclear
- Almost half of Irish CIOs don’t know who their executive sponsor for analytics is , or claim that no single sponsor is defined. This is compared to just one third of CIOs globally lacking this clarity
Download our full report to see how Irish CIOs compare internationally, and get the Deloitte perspective and specialist advice.
- Grab the opportunity: There is an opportunity for CIOs to grab control and build a more streamlined information network
- Align interests of stakeholders: CIOs are uniquely positioned to act as central hubs in aligning analytics strategy with the business, bringing together a diverse set of actors to generate optimal solutions
- Find a sponsor: Executive level sponsorship and an achievable roadmap will provide short-term, targeted insight and support long-term transformation
- Invest in “purple people”: The success of analytics requires a dual understanding of technology and business strategy. Organisations must identify and invest in those individuals who possess both, to succeed in analytics
IT budgets and priorities: renewed focus on growth but innovation still lacks funding
CIO portfolio: balancing business as usual and IT innovation
CIO relationships: internal and external stakeholders critical for CIO success
CIO pulse: CIO's role in creating a culture of innovation and examining personal style