Understanding the Data & Analytics Specific Purchase Process
- 1. Average that data & analytics focused decision-makers download to aid them throughout the purchase process UNDERSTANDINGTHE DATA&ANALYTICS-SPECIFIC PURCHASEPROCESS of organizations have big data/analytics tools in place or are actively researching these technologies DECISIONSWITHINTHEDATA&ANALYTICSPURCHASEPROCESS Who represents the data & analytics buying team? OFDATA&ANALYTICS PURCHASESHAVEITASTHE PRIMARYBUDGETHOLDER Data & analytics purchase types in the past 24 months of data & analytics purchases were made from new vendors How long is the average data & analytics buying cycle? Source: IDG Customer Engagement, 2019; IDG Role & Influence of the Technology Decision-Maker, 2019; Worldwide Big Data and Analytics Spending Guide, IDC; IDG Digital Business Study, 2019 To learn more about the data & analytics purchase process and how IDG can help you identify content gaps and needs to help you better engage this audience, contact your IDG sales representative. BILLION $274.389% are involved in data & analytics purchases CONTENTEDUCATINGDATA&ANALYTICSDECISION-MAKERS 13IT23 DETERMINETHE BUSINESSNEED1 1 Lineofbusiness mgmt 41% 2 Chiefdata officer 29% 3 Business relationshipmgr 28% RECOMMENDOR SELECTVENDORS4 1 Architect 40% CIO 2 ITmgmt 27% Engineer EVALUATEPRODUCTS &SERVICES3 1 Architect 42% 2 Engineer 41% 3 CIO 38% SELLINTERNALLY 5 1 Lineofbusiness mgmt 29% 2 CIO 28% 3 Business relationshipmgr 26% APPROVEOR AUTHORIZEPURCHASES6 1 CFO 39% 2 CIO 38% 3 CEO 44% POSTSALES ENGAGEMENT7 1 ITstaff 35% 2 ITmgmt 32% 3 Lineofbusiness mgmt 31% of ITDMs said this was because it was a new initiative request from line of business executives 51% 43% 4.9MONTHS 46% Additions 32% Upgrades 22% Replace existing technologies n White papers n Tech content sites n Analyst firms MOSTRELIED-UPONPIECESOFCONTENT Offer proof of concept But there’s still more work to be done... 7PIECESOFCONTENT HOWDOYOUADDVALUE? Respond quickly to questions or requests for information Offer free trials/ product demos when engaging with data & analytics ITDMs This means that 65% did not provide value! 35% n Product testing/reviews/opinions n Product demo/product literature n Analyst research TOPSOURCESOFINFORMATION 10LOB By 2022, worldwide big data and business analytics revenue is expected to reach 56% PEOPLE Only 35% of data & analytics-specific downloaded content has provided value to ITDMs in the past 12 months. DETERMINETECHNICAL REQUIREMENTS2 1 Architect 39% CIO Engineer 36%2 40% of ITDMs consider big data/analytics to be a disruptive technology – a tool that has the potential to significantly altar the way their business operates 52% 48% 48%