Some CIOs and IT departments are missing the mark with innovation and executive engagement, which threatens new sources of revenue and competitive advantage, according to new survey results from McKinsey & Co.

The aspects of digital business intelligence in McKinsey’s survey surround big data, analytics, digital marketing and social media tools, and the use of mobile and cloud platforms. When asked their top corporate priority, executives picked big data (9 percent), digital marketing and social tools (8 percent) and mobile and cloud platforms (6 percent), and all three areas were in the top 10 of priorities for a majority of organizations in the survey. Sixty-six percent of executives expect these tech initiatives to make a positive uptick in their operating expenses within three years, McKinsey reported.

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