They say “data.” You hear “permissions, implementation, server up-time, latency, system maintenance, spreadsheets, and reports.”
Despite all the work that already goes into giving business leaders the information they need, the need for more insights is growing at an exponential rate. In fact, Gartner reports that CIOs’ top investment priority for 2014 – 2017 is BI and analytics. In a recent Domo survey of 1,064 business leaders, 98% reported that they rely on business information to do their job well, but only 6% strongly agreed that they can access their business information quickly.
So in order to “bridge the gap,” IT leaders are focused on getting the right information to the right people at the right time. Easier said than done, right? The good news is, it’s getting easier.
Evolution of self-service BI
Disparate systems, complicated UIs and a need for specialized tech skills have made business intelligence anything but self-service since the first computer was turned on. And for IT pros, allowing broader access to data could be a form of corporate suicide from a security perspective. And that’s before you even consider implementation timeframes.
Today, those concerns are still valid, but they are becoming much less scary.
The truth is, business leaders can’t afford not to have real-time access to critical metrics, and BI and analytics systems are pivoting to simultaneously cater to the CEO as well as the CIO. Cloud-based systems are becoming increasingly secure with an implementation that takes minutes—not months. CIOs are now able to offload tedious responsibilities as business leaders rely on real-time updates to occur automatically, thanks to APIs that plug data into a single dashboard.
CIOs are becoming rainmakers
In IBM’s recent study “Under cloud cover: How leaders are accelerating competitive differentiation,” the tech giant discovered that organizations with broad cloud deployment saw 140% greater compound annual growth rate (CAGR) in gross profits over a three-year period than those with minimal to no cloud solutions.
According to the study, organizations that consistently use cloud-based systems demonstrate more flexibility and greater speed as they respond to market trends and capitalize on new opportunities. Organizations are leaning on the CIO to make that happen.
How’s that for bridging the gap?
Solid footing while walking on a cloud
IT leaders are trying to navigate the labyrinth of solutions that can provide business leaders with the information they need, without compromising the company’s assets.
It’s a tough job—but it is possible. IT leaders are helping their organizations move faster and become more efficient while also relieving IT of the tedious tasks involved with reporting.
You know Domo is based in the cloud—and yes, it’s ridiculously secure (SOC2 compliant and everything). Give us a call if you have any questions. We’d love to answer your questions.