Chief executives increasingly plan to increase their information technology spending in 2013 and 2014 as they ponder digital strategies, according to a Gartner survey.
Gartner's survey, based on 390 senior business leaders at companies with $250 million or more, found that CEOs by a four-to-one ratio plan to boost IT spending in 2013. Indeed, 78 percent of CEOs said they can plan their 2013 and 2014 IT investments and business growth.
What's driving the IT spending bullishness? Gartner argues that companies are forming digital strategies. Fifty two percent of business leaders said they have a digital strategy to fuel e-commerce, mobile, cloud and social plans.
The return for these digital strategies may rhyme with, which revolves around using its own brand to spend less on marketing.
Other key items from the Gartner survey:
- 19 percent of CEOs said they expected to employ a chief digital officer by 2014.
- 17 percent of CEOs expected to hire a chief data officer.
The upshot is that CEOs appear to understand that existing IT budgets won't fuel growth. What's unclear is where the technology spending budgets will head. Chief marketing officers and line of business executives are expected to increasingly have their own IT budgets.