The Death of Business Intelligence

CMOs and CIOs failing to gel

Posted in Business by TheLondonEconomic on September 6, 2013

 

Chief marketing officers (CMOs) and chief information officers (CIOs) are failing to collaborate effectively, according to a new report. Only one-in-ten of the executives polled believed collaboration between the two roles is currently at the right level.

The report from Accenture highlights the key role that business intelligence can pay. It shows disagreement over the freedom and control of the use of technology and data prevents effective collaboration.

While 45 per cent of CMOs say they want to enable their teams to leverage and optimize data and content without IT intervention, 49 per cent of CIOs counter that the marketing department uses technologies without consideration for IT standards.

As Accenture points out, business intelligence holds the key to change. It recommends the skills mix in both organizations should be updated: the marketing department would become more tech savvy and the IT organization would become more agile and responsive to market demands. The report also suggests both teams agree on key business levers and embrace tools, processes and platforms to understand consumer intent and unlock consumer value.

CMOs and CIOs agree that technology is essential to marketing and that its primary purpose is to gain access to customer insight and intelligence. But while CMOs believe gaining customer insight is their number one motivator for collaborating with IT, CIOs rank this tenth on their list of reasons to work together. Accenture calls this the CMO-CIO ‘disconnect’.

“The CMO and CIO continue to work in silos, but now more than ever bridging the gap between those two organizations is critical for success,” says Brian Whipple, global managing director of Accenture Interactive.

“With today’s multichannel consumer seeking highly relevant experiences and with digital and analytics platforms emerging to help companies respond, marketing and IT executives must work more closely together.”

In spite of the issues highlighted, the report does suggest the situation is on the mend. Both CMOs and CIOs believe their relationship has improved over the past year: 45 per cent of marketing executives and 47 per cent of IT executives share this opinion. In addition, almost an equal number of CMOs (41 per cent) and CIOs (42 per cent) believe that significantly more collaboration with each other will be required to drive improved customer experiences.

As Mr Whipple points out, this trend needs to go even further if organizations are to fully realize the benefits of business intelligence tools and platforms.

“To succeed in the digital age, CMOs must place an immediate focus on technology to improve relevant customer experiences and advance marketing practices,” he explained. “The good news is that CMOs and CIOs agree technology is important. Now they must work together to agree on how technology can be most appropriately applied to drive their company’s specific marketing needs, and how it can ultimately result in increased brand affinity, loyalty and sales growth.”

Just to add another element to the mix, when it comes to processing data, the Journal of Accountancy argues the finance department should be taking the lead role. Certainly all three departments – IT, finance and marketing – must learn to engage and work together.

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