According to the Society for Information Management’s IT Trends Study, which surveys thousands of IT leaders every year, analytics and business intelligence are among the largest investments IT departments are making this year.

In an interview about the SIM study’s findings, Russell R. Torres, one of its co-authors, stated that many companies have embraced applications that “give them the ability to extract value that’s been sitting dormant in the data they collected.” When leveraged effectively, this data can allow them to gain customer insights, increase efficiency, and reduce costs.

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