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However, the metrics used to evaluate CIOs are hindering progress. As digital transformation becomes a critical driver of business success, many organizations still measure CIO performance based on traditional IT values rather than transformative outcomes. The CIO is no longer the chief of “keeping the lights on.”
Instead, CIOs must partner with CMOs and other business leaders to help quantify where gen AI can drive other strategic impacts especially those directly connected to the bottom line. CIOs should return to basics, zero in on metrics that will improve through gen AI investments, and estimate targets and timeframes.
The 2024 Board of Directors Survey from Gartner , for example, found that 80% of non-executive directors believe their current board practices and structures are inadequate to effectively oversee AI. How does our AI strategy support our businessobjectives, and how do we measure its value?
We’re in publishing, but it’s the accompanying services that differentiate us on the market; the technology component is what gives value to our business.” BPS also adopts proactive thinking, a risk-based framework for strategic alignment and compliance with businessobjectives.
The challenge of ROI in innovation The same IDC survey reveals that 58% of IT executives anticipate higher IT spending in 2025 compared with 2024. CIOs, therefore, need a clear strategy for aligning GenAI investments with organizational capabilities and businessobjectives to justify both current spending and future growth.
Additionally, 97% of CDOs struggle to demonstrate business value from sustainability-focused AI initiatives. Similarly, Deloittes 2024 CxO Survey highlights that while CDOs prioritize AI and business efficiency, sustainability remains a secondary focus.
This was one area addressed in the HP-sponsored IDC whitepaper on the benefits of integrating managed device services, published in April 2024 [1]. Growing interest in meeting corporate sustainability goals has reframed how organizations think about IT asset usage, life-cycles, and end-of-life disposal practices.
Otherwise, companies will struggle to realize business value with AI/ML capabilities left to endure high cloud cost expenses, as it has been for many companies in 2024 for AI solutions. The assessment provides insights into the current state of architecture and workloads and maps technology needs to the businessobjectives.
Implementing deep automation: A CIO’s action plan IDC’s Worldwide CEO Survey 2024 , February 2024, shows that automation technologies climbed five positions since last year to emerge as the second biggest tech spending priority for CEOs in 2024. The role of the CIO is crucial in driving deep automation.
Evolving BI Tools in 2024 Significance of Business Intelligence In 2024, the role of business intelligence software tools is more crucial than ever, with businesses increasingly relying on data analysis for informed decision-making. Keen to explore the full potential of BI tools?
Clarify how they will obstruct your achieving the IT vision and any overarching businessobjectives. Effectively, this objective was the wrapper for a group of projects that would integrate recent bolt-on acquisitions, standardize technology across BUs, and reduce manual processes through automation.
By analyzing historical datasets through visual representations such as time-series graphs or predictive models, decision-makers gain valuable insights into potential trajectories for various metrics or indicators. By integrating such a tool, you unlock the growth and optimization potential inherent in data-driven insights.
Organizations face increased pressure to move to the cloud in a world of real-time metrics, microservices and APIs, all of which benefit from the flexibility and scalability of cloud computing. Everything runs seamlessly and efficiently and all stakeholders are aware of the cloud’s potential to drive businessobjectives.
S&P Global Market Intelligence has found that digitally driven organizations outperform digitally delayed ones across a host of key metrics, including customer satisfaction, average time to respond to customer inquiries, customer lifetime value, customer acquisition, and marketing ROI.
For example, metrics like the percentage of missing values help measure completeness, while deviations from authoritative sources gauge accuracy. Timeliness can be assessed by tracking the alignment of data updates with business timelines. The issue lies in the abstraction of these dimensions.
Most telling could be a 2024 report from IBM. The wrong measures of success Even when organizations set expectations for the IT department, they often set technical expectations that dont measure the impact technology has on the business. Similarly, they set metrics that dont have room for CIOs and their staff to exceed.
I am a key member of the council responsible for formulating the companys business strategy and setting goals, followed by developing 1-year, 3-year, and 5-year plans. This ensures that our technology roadmap is fully aligned with our overarching businessobjectives and fosters a continuous cycle of innovation and efficiency.
The 2024 State of Agile report from Digital.ai To avoid that speed bump, Tanowitz advises CIOs to own the AI governance framework, and to ensure the framework establishes ways to pick and prioritize AI initiatives based on business value and establishes metrics to measure ROIs. He says the approach is paying off.
This approach and our focus on inclusion are crucial to both our broader businessobjectives and to establishing the kind of workplace where our employees can be their best, authentic selves every day. For example, during Pride Month 2024, the ERG organized multiple events and meaningful opportunities for dialogue.
Focused on digitization and innovation and closely aligned with lines of business, some 40% of IT leaders surveyed in CIO.com’s State of the CIO Study 2024 characterize themselves as transformational, while a quarter (23%) consider themselves functional: still optimizing, modernizing, and securing existing technology infrastructure.
In CIOs 2024 Security Priorities study, 40% of tech leaders said one of their key priorities is strengthening the protection of confidential data. Use Master Data Management (MDM) to create a single source of truth for critical business entities. Additionally, standardize naming conventions and ensure consistency across databases.
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