PwC’s 5th Annual Digital IQ Survey: Energy and mining companies work to catch up with the IT revolution

PwC’s Digital IQ report on energy and mining (E&M) companies assesses their progress at integrating the most dynamic forms of information technology—mobile computing, social media, cloud computing, and Big Data analytics—both internally and with their customer interactions. Drawing from the results of a PwC survey of 1,107 companies with revenues of $500 million and above, we gauged not only how E&M companies' use of these technologies has increased, but also their progress at making IT a larger component of their strategic planning and execution. Our findings included:

  • E&M companies rank IT-related issues among their major organizational challenges, particularly rapidity of technological change and inability to quickly understand and adopt IT tools needed to be competitive.
  • E&M companies need to invest more in making their mobile computing platforms useful for both customers and employees. They also need to place more emphasis on social media as a tool for communicating with external stakeholders.
  • E&M lags other industries in its investment in both public-cloud infrastructure and private cloud.
  • While E&M companies understand the opportunity in better use of analytics, less than one-third are currently investing in data mining and analysis.
  • The majority of E&M companies have a single, multi-year roadmap for their overall business strategy, and are making progress at developing one for their digital initiatives.
  • Few E&M companies have yet mastered the execution phase of improving digital IT, only about one-third saying they consistently bring projects in on time, on budget, and to 100% of scope.