FRAMINGHAM, Mass.–(BUSINESS WIRE)— Today at the International Data Corporation (IDC) Global Regional Advisory Council event, Meredith Whalen, IDC Senior Vice President, presented The Implication of Shifting Technology Buying Centers on Your Business, based on a new survey of 1,200 line of business executives. According to the survey, 61% of enterprise technology projects are now funded by the business rather than the IT department, and IT spending driven by the functional business areas will continue to outpace IT spending by the IT organization in the future. Marketing takes the top position with a 5-year compound annual growth rate (CAGR) of more than 9%.
“Technology has long been central to improving business processes, enabling greater speed, efficiency, and reliability,” said Meredith Whalen. “As businesses embrace the 3rd Platform, built on cloud services, big data analytics, mobile computing, and social networking technologies, they are taking the critical first steps toward business process transformation and, in some cases, business model transformation. With such high stakes, the business is increasingly taking a front seat in technology initiatives.”