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Ride the Analytics Wave with BusinessWeek Embedding business intelligence and analytics in everyday business processes and systems—including finance, customer service, marketing and production—is moving into the mainstream in a hurry. Only a few years ago it was considered extremely difficult, risky and expensive to empower clerks, customer service reps and other front-line staff with sophisticated BI/analytics tools that were easy to use and understand. Not any more. A survey among senior executives who subscribe to BusinessWeek magazine and/or its Web site found that they are embracing embedded analytics in a big way. While roughly a third of the 359 respondents said they already have embedded analytics in their operational systems, or are in development now, a whopping 44% said they are planning to embed the technology within the next three years (see chart).
Source: BusinessWeek Research Services Since this survey included CEOs, CFOs, COOs, CIOs, presidents, EVPs, SVPs, VPs and general managers of large and medium sized companies, this is a dramatic indication of a broad-based wave of interest in analytics. Note that only a third of the respondents had IT-related job titles. As you think about how to take advantage of this clear buying signal, please consider who are making these implementation decisions. If you think that analytics and BI are strictly an IT decision, consider the responses of the senior executives surveyed in April. Most of the key decision makers are outside of the IT department. We asked several questions about the role of IT and the CIO in business intelligence and analytics, and the answers should trigger a rethinking of marketing spend by vendors in this space. Senior non-IT executives, including the CEO, the COO, the CFO and line of business managers are major players in a large scale BI/analytics implementation decision. In fact, roughly half the respondents said the CIO wasn't even involved in these projects. Hard to believe? I was stunned by this data, but the answer to another question provided the explanation. We asked these senior executives which one group within their organization typically stewards or "owns" BI/analytics across their organization. The IT department was selected by only one third of the respondents. The finance, marketing and other departments are more likely to "own" the BI/analytics system. Note that for larger companies—more than 5,000 employees—the IT department got 43% of the votes as the BI/analytics owner (see chart). That's why so many CIOs aren't involved—their departments aren't in control of most BI systems.
Source: BusinessWeek Research Services Here's the Pitch Based on senior executives' intense interest in business intelligence, BusinessWeek will publish our special advertising section, Ubiquitous Analytics, in the November 27 issue. This section will give you a great and unique opportunity to pitch your solutions to an audience where almost half are planning to buy analytics products over the next few years. The section will focus on the various vertical and process specific analytics tools now available, as well as the infrastructure to support the broad-based deployments now being considered by senior executives. Our sections on Business Intelligence have been among the most popular and successful in BusinessWeek, so the earlier you participate, the better your placement. Give me a call or send me an e-mail if you have any questions or would like to see the brochure about the section. Legal Stuff For prior issues of my newsletters with research data and analysis, visit this page of our Web site. If you want to be removed from my e-mail distribution list, please reply to this e-mail with the word Remove in the subject line. Thanks again for your interest and support.
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