Business intelligence (BI) has long been a top CIO priority driving technology investment for organizations. Unlike many of the items that made the list in 2012 that have since dropped down on—or disappeared from—it, a recent Gartner survey indicated that BI remains an important area of investment for technology organizations; 45 percent of respondents indicated they will increase their investment in BI. Also interesting from this survey is how many other top investment areas are extremely data intensive, including cybersecurity, customer experience, digital business initiatives, and artificial intelligence (AI).
Although it is good to see the continued focus on the data and analytics domains, it is also quite disturbing that this seems to imply many of our past investments may not be hitting the mark in terms of success. As a point of illustration, Gartner suggested in January 2019 that “[t]hrough 2022, only 20 percent of analytic[s] insights will deliver business outcomes.” Clearly, these initiatives are not as straightforward as we would like.
To help you map out your strategy, we present 10 fatal mistakes you should avoid at all costs based on our experience.
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