Become A More Effective CIO
The Big Pivot podcast, put together by IDG and Informatica, looks at how CIOs are leading data transformation. Covering everything from the essentials of data management and security to the less obvious value of controlling data as you would your money, this is a series guaranteed to improve every CIO’s effectiveness.
Developing the Role of the CIO
The CIO role is changing as IT begins to partner with functional POs and technology is used to transform businesses through new business models, additional revenue streams, and the disruption of both ourselves and our competitors. Though major changes are often constrained by legacy tech, legacy thinking, or a combination of both, a CIO who understands business culture and processes and is willing to build partnerships can provide value across the organization. Says Graeme Thompson, CIO of Informatica, “Sometimes the CIO can see opportunities to do things that the marketing team may not, because we’re working with sales and R&D and customer support.” Just as necessary as strong relationships, clear goals need to be defined to keep everyone motivated when challenges arise.
The Strategic Use of Data
Digital transformation also benefits customers because today’s organizations can easily see what is and isn’t working for their users, and adapt to better meet needs. By leveraging data to drive change, CIOs must use cloud, big data, and other technological resources to create more opportunities; managing the complexities of sprawl, however, can be challenging. It takes a lot of hard work to put proper governance processes in place and implement the right technology to promote data and insight accessibility but it’s well worth the effort. Thompson encourages managing your data as a business asset, the same way you would your money, and suggests the best way to assign value to data is not simply by looking at what the impact of losing it would be, but also exactly what the data can do for your business. Organizations that understand the strategic use of information achieve the competitive advantage and disrupt their industries.
Compliance as a Tool for Business Change
Not to lose sight of key fundamentals, The Big Pivot podcast highlights the need for a new vision of data protection which includes comprehensive knowledge of virtual infrastructures and databases. Threat and vulnerability management is critical and Thompson believes automation is a key part of intelligent data security. With the GDPR compliance deadline approaching, many organizations have a better handle on what they need to comply, and with fines of up to 4% of worldwide revenues, organizations are loath to breech these regulations. Steve Durbin, managing director of the UK’s Information Security Forum, offers a few tips for using GDPR as a tool for business change and suggests organizations not use it as a one-time checkbox process, but rather recognize the necessity and value of treating it as an ongoing process that is more than data management best practices.
Owning Your Data and Driving Outcomes
Digital transformation affects all businesses in every industry, and data is its foundation. Though fragmentation of systems makes it difficult to optimize processes, Thompson encourages organizations to employ end-to-end thinking, understanding how a complete process goes across business functions and applications. He asks, if you knew everything about your company and had all of the information, what would you do? The possibilities are near infinite. Though a shortage of analytics talent is a challenge, Informatica is working towards a structure that has business functions managing their own data since they know it best and can get the most from it. This means retraining high-performing employees, relying on partners, and looking outside for necessary talent, but when everyone in your organization knows the value of data, and can put it to best use, the end value increases exponentially.
According to the 2017 State of the CIO survey produced by IDG, 93% of CIOs say they’re involved in some aspect of martech purchase decisions, either as internal consultants or decision makers. But half of the line of business respondents described martech purchases as collaborative between marketing and IT. Thompson recognizes that although IT people think they’re involved, their involvement is sometimes minimal, and true collaboration is essential. CIOs who understand the roles and objectives of their colleagues act as partners rather than resources, and with joint ownership of processes we see outcomes and effectiveness soar. For more detailed insight into how CIOs can drive change, improve relationships, and advance business success, dive into The Big Pivot podcast now.
This post is brought to you by Informatica and IDG. The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of Informatica.
By Jennifer Klostermann