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IT Spending: Despite Euro Woes IT Spending Picks Up
2010 hasn’t been a good year for the economies of Europe. The Euro is down by as much as 25 percent from year ago values. But despite those troubles, IT spending looks as if it will be on the upbound during the remainder of the year. A report by IDC called the 2010 European Software Survey, forecasts large increases in IT spending, especially in the area of Business Intelligence.
Carla Arend of IDC said that the “survey results show that European organizations are in a state of cautious recovery. Software investments to keep the company running — like security and storage software — continue to capture the highest priority, while business-driven spending on new business applications remains lower priority in 2010.”
Based on the survey, organizations in Europe are planning on increasing their BI spending in 2010 by 40 percent. That’s a heft increase. One leading industry segment where Business Intelligence is important is Finance, and among Finance companies, 40 percent plan to increase their BI budgets. IDC comments that the more familiar companies become with BI, the more they want to improve on and increase their existing BI capabilities. Finance is one area with some of the deepest experience in BI, and that’s partly why they’re coming back for more. Similarly, in the retail sector, about half of the companies surveyed planned to increase their spending on BI software.
IDC also notes that Business Intelligence is just one area that can improve utilization of data and processes to gain better efficiencies. Content Management is another area that companies should look into also.
