For enterprise organizations seeking success and longevity, the role of data and analytics in business transformation has never been more clear. According to the Forrester Insights-Driven Businesses Set the Pace for Global Growth Report, insights-driven businesses are growing at an average of more than 30% each year, and by 2021, are predicted to take $1.8 trillion annually from their less-informed peers.
With investments in BI and analytics talent and technology on the rise as organizations strive to level up, what are the top priorities driving BI and analytics software purchases? A recent Forrester survey of more than 1,000 respondents who indicated that they either had involvement in their company’s purchase of BI and analytics software in the past 12 months or will do so in the next 12 months provides an interesting look at what’s top of mind for most buyers:
According to Forrester’s 2019 Business Technographics® Priorities and Journey Survey, when it comes to business priorities, the top driver is growing revenue at 39%, closely followed by improving the customer experience at 36%. Rounding out the top five priorities are reducing costs (33%), improving products and services (32%), and using data to make more informed decisions (28%).
And who’s making the final call when it comes to buying BI and analytics software? According to Forrester’s survey, it’s the CIO who holds the purchasing power in almost half of the organizations surveyed (48%).
Want to learn more? Watch this webcast where guest speaker Boris Evelson, Forrester VP and Principal Analyst, shares his viewpoint on recent analytics vendor acquisitions and his insights around BI fabric and other important analytics capabilities for insights-driven organizations.