{"id":558042,"date":"2022-12-06T05:25:25","date_gmt":"2022-12-06T13:25:25","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&#038;p=558042"},"modified":"2025-01-09T05:30:36","modified_gmt":"2025-01-09T13:30:36","slug":"tech-spending-rises","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/tech-spending-rises","title":{"rendered":"CXOs Increase Tech Budgets to Build a More Intelligent Enterprise"},"author":501,"featured_media":0,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","castos_file_data":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[],"tags":[1741,285382,157412,12172,295002],"department":[476792],"wherenext-category":[],"industry":[],"class_list":["post-558042","wherenext","type-wherenext","status-publish","format-standard","hentry","tag-ai","tag-corporate-security","tag-data","tag-developers","tag-it","department-cxo-priorities"],"acf":{"short_description":"Tech spending is on the rise\u2014even while some hiring budgets cool\u2014as companies aim to work smarter.","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"As some executives <a href=\"https:\/\/www.theverge.com\/2022\/11\/14\/23458204\/meta-twitter-amazon-apple-layoffs-hiring-freezes-latest-tech-industry\">tighten hiring budgets<\/a>, a majority of CXOs plan to increase spending on technology. Fifty-four percent of business leaders <a href=\"https:\/\/venturebeat.com\/data-infrastructure\/report-tech-spending-is-holding-strong-though-priorities-shifting\/\">expect to increase technology budgets<\/a> next year, according to a recent Battery Ventures survey, and 75 percent plan to do so in the next five years. Top priorities include security, data, development tools, and artificial intelligence (AI). In each area, a geographic approach can deliver additional benefits."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Left","content":"<strong>Article snapshot:<\/strong> While some companies temper hiring, C-suite execs plan to boost tech spending with a focus on data, security, developers\u2019 tools, and AI.","snippet":""},{"acf_fc_layout":"content","content":"<h3><strong>Tech Spending for Security <\/strong><\/h3>\r\nWhether it\u2019s the ever-present danger of a cyberattack or threats to people and assets, CXOs want to be aware of organizational risk\u2014and prepared to respond quickly. Well-known brands in tech, retail, manufacturing, and other sectors use a geographic information system (GIS) to locate and understand those risks.\r\n\r\nAn increasing number of Fortune 500 businesses have established corporate security centers to oversee their operations around the world. On GIS-based maps, <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/new-corporate-security-techniques\/\">executives monitor<\/a> factors such as inclement weather, crime incidents, and evacuations. These maps provide a centralized view, helping security teams see imminent threats and coordinate activities that keep employees, customers, and assets safe.\r\n<h3><strong>Doubling Down on Data<\/strong><\/h3>\r\nData ranked among CXOs\u2019 top tech spending priorities, according to Battery Ventures. Data analysis has been a driving force behind <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/gm-maps-supply-chain-risk\/\">better supply chain management<\/a>, <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/advice-from-a-retail-leader-seven-steps-to-post-covid-success\/\">enhanced customer service experiences<\/a>, and efficient business operations. But many organizations still find it daunting to gather, analyze, and manage massive amounts of data.\r\n\r\nGIS technology clarifies location data by revealing where, when, and why businesses and customers operate as they do. This type of <a href=\"https:\/\/www.esri.com\/en-us\/location-intelligence\/overview\">location intelligence<\/a> provides critical information for companies across the business world\u2014as well as organizations in <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/business-location-practices-bloom-in-the-public-sector\/\">the public sector<\/a>.\r\n\r\nJohn Deere uses location data to <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/john-deere-market-development-with-location-intelligence\/\">better understand its customers<\/a> and the markets where they live and work. Renewable Energy Systems (RES), the world\u2019s largest independent renewable energy company, <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/advanced-analytics-fuel-renewable-energy\/\">analyzes data with GIS technology<\/a> at almost every stage of a project\u2019s development and construction.\r\n<h3><strong>Investing in Development Tools<\/strong><\/h3>\r\nWhile Fortune 500 companies enlist GIS technology for data analysis and security operations, the developers in their ranks are <a href=\"https:\/\/developers.arcgis.com\/\">using location services<\/a> and other forms of location intelligence to power business and consumer apps."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Right","content":"<strong>Mapping Cybersecurity<\/strong>\r\n\r\nWhile GIS technology is a go-to resource for corporate security teams, cybersecurity professionals are finding value in \u201cIT maps\u201d that compile critical data and <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/mapping-it-vulnerabilities\/\">reveal vulnerabilities at a glance<\/a>.","snippet":""},{"acf_fc_layout":"content","content":"By integrating GIS-based location services and mapping tools, developers can create apps that incorporate elevation maps, satellite imagery of the earth\u2019s terrain, turn-by-turn directions, and other enhancements to the user experience.\r\n\r\nWhether it\u2019s a consumer app like <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/relive-incorporates-gis-functionality\/\">Relive<\/a> that captures travel journeys in vivid imagery and 3D maps, or a business app that optimizes logistics at the world\u2019s largest chemical plant, GIS-based services are an increasingly important capability in the developer\u2019s toolbox.\r\n<h3><strong>Driving Decisions with Artificial Intelligence \u00a0<\/strong><\/h3>\r\nArtificial intelligence continues to be a spending priority among CXOs, according to Battery Ventures, and companies are gaining confidence in investment decisions by integrating <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/artificial-intelligence-and-location-intelligence-for-business\/\">AI with location intelligence<\/a>. Banks can combine the technologies to track revenue at existing branches, analyze demographic data in potential expansion areas, and predict where to open new branches. Wireless network providers use location intelligence and AI to analyze dropped calls and dead zones, helping determine precisely where they should add cell towers to improve network reliability.\r\n\r\nAs CXOs ramp up spending on AI, security, data, and developer tools, they hope to build a more intelligent enterprise. Location intelligence complements these investments by adding critical geographic context. Whether the goal is to optimize security protocols or choose a business\u2019s next location, CXOs gain confidence in their investment decisions when they take location data into account.\r\n\r\n&nbsp;\r\n\r\n<em>Photo by Chris Liverani<\/em>"}],"references":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CXOs Increase Tech Budgets to Build a More Intelligent Enterprise<\/title>\n<meta name=\"description\" content=\"A survey of CXOs reveals ambitious tech spending plans and hints at the opportunity to create an intelligent enterprise through location savvy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/tech-spending-rises\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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