London—There is a significant disconnect between marketing and IT departments when it comes to corporate innovation, according to a new study by The Economist.
The Economist's Intelligence Unit conducted an online survey of 226 global senior executives in April to explore the characteristics of companies that are adept at promoting innovation. Oracle Corp. sponsored the study, titled “Cultivating Business-led Innovation.”
Only 17% of the respondents mentioned IT when asked which business units help bring innovative ideas to market, while 47% cited marketing. More than 40% said Big Data was the most crucial component in improving customer experiences and developing new marketing channels.
More than half of the respondents (51%) said the predominant role of their IT department is to implement, rather than generate; 13% said the IT function is not involved in innovation at their company.
“Survey results confirm that the IT department is underutilized and could be more engaged in educating business leaders about new technology trends, enabling business units to adapt processes rapidly and identify pockets of innovation in the enterprise,” the study said.