Company Executives Emphasizing Importance of Mobile Solutions, Social Media
Many consumers rely heavily on social networking sites and their mobile devices for anything from shopping and comparing prices to customer service. As a result, companies are implementing social and mobile solutions at increasing rates.
"Data generated on the internet by customers and vendors can help offer new predictive opportunities to anticipate market changes," said Jeanne Johnson, leader of KPMG's data and analytics innovation initiative. "This survey demonstrates that data and analytics has become a central strategic approach, as most companies believe the key to predicting the needs of customers is directly correlated with analysis from all data sources."
A recent survey by KPMG of 370 executives found that more than 60 percent of organizations have data and analytics strategies in place, and 42 percent of respondents said data analysis could help their businesses in a variety of ways. However, less than 40 percent of executives said that management at their company has access to such information.
Social, mobile investment rising
Bring your own device (BYOD) was among the top corporate trends in 2012. With employees expecting instant access to every company app, BYOD is giving way to another initiative.
"Now it is about bring your own everything," said Chris Howard, Gartner's managing vice president, according to ZDNet.
Gartner recently hosted its annual Identity and Access Management conference. Howard suggested that social media, mobile devices, cloud computing and data are forming a "nexus of forces" that are taking over the enterprise.
A recent IDC study reinforced this notion, predicting that the cloud, social networking, mobile solutions and big data analytics will dominate IT sector investment in 2013. According to Frank Gens, senior vice president and chief analyst at IDC, these technologies will account for 90 percent of IT growth from 2013 to 2020.