Organisations are failing to make the most out of business intelligence, with key IT ecosystem measurements and metrics not being appropriately captured and analysed.
This was one of the major findings of a new report from Kovarus, which discovered that only 38 per cent of IT professionals are making investment decisions "based on true alignment and value to the business".
As such, the bulk of important decisions are not being made through business intelligence, which basically means they are falling behind in innovation. Best in-class organisations consider this strategy for engaging with data as vital.
"Our research shows a clear need for a back-to-basics approach to transforming IT," explained Andy Lewis, chief information officer of Kovarus.
"It is critical to first understand where you are now and how you can adapt what you have before you can effectively adopt and integrate new technology innovations."
He added that if businesses start with these basics, they will be in a better position to make a real difference by increasing efficiency, reducing risk and preparing "for the transformation needed for future waves of change".
Another prominent finding in the survey was the ambiguity of things. For example, 40 per cent of IT professionals admitted that they simply were not aware of their assets. As a result of this, a significant part of their operating budget is, to all intents, missing.
"These expenses become a fuzzy 'allocated cost' to business units without the ability for IT to demonstrate accounting transparency and therefore inflating unit costs for some business units," Kovarus indicated.
"As IT starts to act like and compete with service providers, it is imperative that costs and assets are understood and managed differently."
The reasons for not utilising IT investments effectively were numerous. For the bulk of professionals (65 per cent), a lack of time and a shortfall of tools were cited as the main reason for not making the most out of business intelligence.