As CIOs look to 2013, their role continues to transform from cost-center to business amplifier and source of innovation. On the Future-State CIO Journey, the letter “I” in your title has never meant so much.
Today, the dramatic increase in volume, velocity and variety of information is dominating the focus of CIOs A Gartner Worldwide Survey of more than 2,300 CIOs highlighted the Top 10 CIO Business and Technology Priorities. The Top 3 Technology priorities were: 1) Analytics and business intelligence, 2) Mobile technologies, and 3) Cloud computing (SaaS, IaaS, and PaaS). CIOs increasingly see these priorities in combination rather than as individual initiatives because they are all connected by how they manage and extract value from their information.
CIOs’ key technology priorities revolve around driving better return from all their information assets. With the top-ranked priority, analytics and business intelligence, CIOs expect to enhance or create new capabilities: improving supply chain management; driving mobility for field sales and operations, and leveraging social media for customer engagement and acquisition. With the focus on information, we propose a new definition of ROI – Return on Information. By measuring the new ROI, organizations will drive better return from all their information assets, both by helping CIOs drive additional business impact and minimizing internal costs.
Information – or “Big Data” as it’s increasingly known in Enterprises today – presents more opportunities today than it ever has in the past. You have access to more information than ever before. You have more insight into your customers and constituents: their needs and buying habits, their friends and opinions, and their future needs. You have almost instantaneous raw information on the social, political and environmental events that impact markets and economies around the world. You have more information about how your own organization operates, the systems that drive employee productivity and the services that engage and retain customers. With both the internal and external information you have the potential to predict which products will fly off the shelves and how best to maximize revenue. Your organization can effectively respond to what people are saying about your brand. You can even capitalize on new trends and moving markets.
But with these opportunities, of course, come challenges. Information comes at a previously unimaginable speed, scale and complexity – from sensors that collect data to employees and customers that publish blogs to social media postings to video and audio. Legal and compliance is more prevalent and invasive than ever – more emails, instant messages, and documents that you need capture and archive. Protection becomes both more important and more challenging. Without the proper strategy, Big Data can absolutely crush the IT department.
In the next five years, Return on Information (ROI) will be the defining measure of success by calculating the value that you derive from your investments to capture, process, store, manage and analyze information. Leaders will efficiently and cost-effectively extract insight from 100 percent of their data (structured, semi-structured, and unstructured) to drive intelligent business decisions – faster. ROI will become a critical measure for success, not only for IT, but for the business. Leaders will maximizing the Big Data opportunity, laggards will be victims of the Big Data challenges.
It’s an exciting time to be a CIO. You’re being asked to drive business innovation, create new and engaging customer channels and achieve enterprise operational objectives. “Future-State CIOs” are moving from internal to external leader focus, from “systems” to “business” staff expertise, and from a “service provider” to “partner” to “peer” relationship with the rest of the C-Suite. And the biggest triumphs to be had for organizations, executives and customers all revolve around Information.
We look forward to hearing about the projects and innovations that you’re leading; the goals you’ve set for the coming year and the problems you’re determined to solve. And most importantly, we want to hear how you plan to address your Big Data challenges and capitalize on Big Data opportunities.
For information on HP’s Information Optimization solutions to your Big Data challenges and opportunities, visit www.hp.com/go/information