Indian firms want to invest in business intelligence to reduce timeframe from data to decisions: IDC

International Data Corporation says that by 2023, 40% of enterprise intelligence initiatives will be business-specific and enterprise-grade.

International Data Corporation says that by 2023, 40% of enterprise intelligence initiatives will be business-specific and enterprise-grade.

By 2023, 40% of enterprise intelligence initiatives will be business-specific, purpose-built for enterprises, reducing the timeframe from data to decisions by 25%, International Data Corporation (IDC) predicts.

According to IDC, enterprise intelligence includes four critical elements: the ability to synthesize information, the ability to learn from the information, the ability to apply those insights at scale, and a data-driven culture.

Businesses in India wanted to invest in enterprise intelligence initiatives and projects to integrate knowledge specialists with business decision makers to achieve benefits such as improved decision making, increased knowledge and efficiency with the goal of improved financial, strategic, operational and service level results, the analyst firm said in a report Thursday.

“The pandemic has highlighted the importance of being resilient. Organizations need to focus on moving from a “process-driven” mindset to a “data-driven” culture,” said Rishu Sharma, Associate Research Director, Cloud and AI, IDC India.

Sagnik Das, Senior Market Analyst, Cloud & AI, IDC India said data is at the heart of the DX journey for any vertical or industry.

“Indian organizations are now realizing the importance of leveraging enterprise intelligence across all aspects of business operations as well as enterprise ecosystems to improve strategic decision-making processes,” he added.

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