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CIOs Report Increased Confidence in IT Business ClimateEach quarter, Forrester Research conducts a poll measuring the confidence level of North American chief information officers (CIOs). As part of their analysis, the research group asks over 100 company technology leaders to give their opinions on current and prospective business conditions as well as future IT spending. The third quarter 2005 study shows that CIOs feel optimistic about IT spending and the overall health of the economy. Over 85 percent of CIOs claimed that the third quarter business environment was strong or very strong, which is up from 70 percent in the second quarter. Additionally, the report shows that 78 percent of CIOs experienced an increase in technology spending this year. Also reported were higher IT spending predictions for the remainder of the year. A mere six percent of survey participants expect that they will not spend the sum of their budget, while a whopping 25 percent predict they will overspend their funds. The report also reveals that participants are optimistic about the future business environment. A hopeful 86 percent of CIOs said they predict the technology business climate will continue to improve into next year. Unfortunately, Forrester Research expects to see a drop in these tech officers' confidence levels in the fourth quarter study. The research group predicts that the recent business disturbance caused by Hurricane Katrina will result in a significant decline of CIOs' expectations and optimism. However, this report confirms that technology leaders currently remain hopeful and believe that the business climate and overall economy will continue to improve in 2006. Source: CIOs feeling happier about IT prospects. CNET News.com. October 4, 2005. |
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