TIBCO's 2018 CXO Survey Unveils the State of Innovation Strategies and Challenges

Research Examines Executive Strategy and Hurdles to Success on the Apex of Innovation

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Dec 13, 2018, 08:00 ET

PALO ALTO, Calif., Dec. 13, 2018 /PRNewswire/ -- TIBCO Software Inc., a global leader in integration, API management, and analytics, today released the initial results of the 2018 TIBCO CXO Innovation Survey examining the leading trends in innovation strategy within the enterprise. The Executive Summary is available at the Apex of Innovation website, a resource for C-level executives interested in business innovation, data sovereignty, the business of data, and data-driven experiences.

The research provides a deep dive into how and why companies are innovating, as well as the tactics and technologies needed to drive initiatives. The research results also examine the role of digital transformation in innovation across industries, which teams within an organization are driving innovation the most aggressively, and the obstacles they are facing.

The 2018 TIBCO CXO Innovation Survey polled more than 600 respondents around the world including CXOs, senior vice presidents, vice presidents, senior directors, and directors from business and IT functional areas. Respondents represented industries that include retail/wholesale, manufacturing, financial services, healthcare, transportation, aerospace, energy, oil and gas, professional services, technology and software, and more.

Key findings include:

Digital transformation is a work in progress. Approximately 65% of respondents identified that they have yet to reach "expert" status in their digital transformation maturity.
Obstacles to success for innovation-based projects are directly linked to technology, culture, and people. Approximately 24% of respondents listed that limited time, resources, and budget associated with company culture priorities are top obstacles.
Respondents are adopting cloud, BI/analytics, and integration solutions as an early part of their innovation strategy. AI/ML, open source, blockchain, and IoT align with more sophisticated strategies. For example, of the respondents that consider their organizations to be experts in their digital transformation maturity, 41% have adopted blockchain technologies.

"Unlocking innovation potential is key for organizations that want to be at the cutting edge of their markets," said Thomas Been, chief marketing officer, TIBCO. "People, data, and technology form the nucleus of innovation and executives across all industries need all three working together for success. This survey dives deep on these relationships and shows how more digitally mature companies are innovating faster and more often. We're excited to bring forward compelling insights on the factors critical to innovation. These elements are what every executive should consider when determining strategies to stay competitive."

More findings from the CXO Innovation Survey, including industry-specific insights, will be released through the Apex of Innovation website throughout 2019. See the Executive Summary here.

For more information about TIBCO, please visit www.tibco.com.

About TIBCO
TIBCO fuels digital business by enabling better decisions and faster, smarter actions through the TIBCO Connected Intelligence Cloud. From APIs and systems to devices and people, we interconnect everything, capture data in real time wherever it is, and augment the intelligence of your business through analytical insights. Thousands of customers around the globe rely on us to build compelling experiences, energize operations, and propel innovation. Learn how TIBCO makes digital smarter at www.tibco.com.

TIBCO and the TIBCO logo are trademarks or registered trademarks of TIBCO Software Inc. and/or its subsidiaries in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification.

Media Contact:
Lindsey Ashjian Torres
TIBCO Software Inc.
(650) 846-8862
[email protected]

SOURCE TIBCO Software Inc.