Business analytics and data management investments are expected to remain a high priority in 2010, according to IDC findings. Spending intentions for 2010 investments in business analytics solutions are highest in the life sciences and securities and investment industries. The financial services sector as well as the manufacturing and resources sector also indicate above average budgets for business analytics in 2010.
IDC found that a third of organizations are unsure how to measure the benefits of business analytics projects and solutions, more so in education, process manufacturing, and utilities industries. Industries such as communications and media, securities and investments, and insurance are more confident of their analytics projects.
"Fifty-three percent said they do get positive results, but the large uncertainty may stunt adoption," says Dan Vesset, vice president of business analytics at IDC. "You're less likely to secure funding for improvements and are not going to get the buy-in of business users if they're not seeing quantifiable results."
Vesset suggests that consultants provide more case studies and tools that enable users to do project-based ROI evaluations. IDC recommends that vendors and consultants focus on applying business intelligence and analytics on the business analytics projects to ensure that BI groups are able to clearly articulate the benefits to their constituents and ensure ongoing funding of projects.
The full report is available at www.idc.com.
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Valerie Valentine is senior editor for Information Management. You can follow her on Twitter at @va1va1entine or via email at valerie.valentine@sourcemedia.com.
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