CIO Business Intelligence

JANUARY 21, 2025

But alongside its promise of significant rewards also comes significant costs and often unclear ROI. For CIOs tasked with managing IT budgets while driving technological innovation, balancing these costs against the benefits of GenAI is essential. See also: Gen AI in 2025: Playtime is over, time to get practical.

Cost-Benefit 98

Cost-Benefit ROI Measurement Strategy 98

CIO Business Intelligence

DECEMBER 19, 2024

It also has the benefit that as underlying AI costs drop over time service providers can extract more margin for this work. A third way that AI agents could be priced is by calculating the underlying costs and charging a small markup, he says. Potentially good for customers, but maybe not for shareholder returns.

Cost-Benefit 128

Cost-Benefit Modeling ROI Marketing 128

CIO Business Intelligence

JANUARY 7, 2025

Regardless of the driver of transformation, your companys culture, leadership, and operating practices must continuously improve to meet the demands of a globally competitive, faster-paced, and technology-enabled world with increasing security and other operational risks.

Digital Transformation 143

Digital Transformation Experimentation Cost-Benefit Strategy 143

CIO Business Intelligence

MAY 22, 2024

“I have found very few companies who have found ROI with AI at all thus far,” he adds. The concern about calculating the ROI also rings true to Stuart King, CTO of cybersecurity consulting firm AnzenSage and developer of an AI-powered risk assessment tool for industrial facilities.

ROI 143

ROI IT Measurement Cost-Benefit 143

CIO Business Intelligence

APRIL 25, 2024

To mitigate these risks, CIOs must implement AI-specific security protocols and conduct regular security audits, which take time, he added. The ROI dilemma IT leaders also face the ongoing challenge of demonstrating and calculating the return on investment (ROI) of technology initiatives.

ROI 136

ROI Cost-Benefit Machine Learning Technology 136

CIO Business Intelligence

JANUARY 21, 2025

And if youre moving from versions older than Oracle Database 19c, get ready for a multi-step upgrade marathon at a substantial cost. New features in any software often come with risks, bugs and performance issues that take time to work out. Additionally, Oracle Database 23ai no longer supports the classic non-CDB architecture.

Cost-Benefit 97

Cost-Benefit ROI Data-driven Risk 97

CIO Business Intelligence

DECEMBER 11, 2024

Travel and expense management company Emburse saw multiple opportunities where it could benefit from gen AI. Both types of gen AI have their benefits, says Ken Ringdahl, the companys CTO. Another benefit is that with open source, Emburse can do additional model training. You get more control over your costs.

Cost-Benefit 115

Cost-Benefit Modeling Marketing Sales 115

CIO Business Intelligence

NOVEMBER 13, 2024

So for all its vaunted benefits to efficiency, gen AI doesn’t always reduce workloads. And we’re at risk of being burned out.” If there are tools that are vetted, safe, and don’t pose security risks, and I can play around with them at my discretion, and if it helps me do my job better — great,” Woolley says.

IT 141

IT Consulting ROI Cost-Benefit 141

Smart Data Collective

DECEMBER 15, 2021

But driving sales through the maximization of profit and minimization of cost is impossible without data analytics. Whether marketers intend to reach new customers or persuade the existing ones, here are ways analytics is boosting returns on investment (ROI): 1. Reduced Risks. Increased Customer Growth.

ROI 134

ROI Marketing Data Analytics Analytics 134

CIO Business Intelligence

DECEMBER 10, 2024

Proving the ROI of AI can be elusive , but rushing to achieve it can prove costly. Bogdan Raduta, head of AI at FlowX.AI, says, Gen AI holds big potential for efficiency, insight, and innovation, but its also absolutely important to pinpoint and measure its true benefits.

Sales 143

Sales Metrics Data-driven Measurement 143

CIO Business Intelligence

DECEMBER 30, 2024

Generative AI has seen faster and more widespread adoption than any other technology today, with many companies already seeing ROI and scaling up use cases into wide adoption. Anshu Bhardwaj, SVP and COO at Walmart Global Technology says that consumers arent the only ones who stand to benefit from mobile AI.

ROI 141

ROI Software Modeling Interactive 141

CIO Business Intelligence

AUGUST 20, 2024

Many AI projects have huge upfront costs — up to $200,000 for coding assistants, $1 million to embed generative AI in custom apps, $6.5 Those costs don’t include recurring costs, which can run into the thousands of dollars per user each year. SMBs are particularly vulnerable to these cost increases.”

Risk 131

Risk Cost-Benefit Insurance ROI 131

datapine

SEPTEMBER 29, 2022

More generally, low-quality data can impact productivity, bottom line, and overall ROI. No, its ultimate goal is to increase return on investment (ROI) for those business segments that depend upon data. Industry-wide, the positive ROI on quality data is well understood. The 5 Pillars of Data Quality Management. 1 – The people.

Data Quality 241

Data Quality Metrics Data-driven Management 241

CIO Business Intelligence

JANUARY 24, 2024

In my view, companies that split up these functions are seeing second-order consequences around communication, costs, and conflict, and are bringing these roles back together. Our analytics capabilities identify potentially unsafe conditions so we can manage projects more safely and mitigate risks.”

Risk Management 118

Risk Management Risk Management Digital Transformation 118

CIO Business Intelligence

JULY 5, 2024

This is why many enterprises are seeing a lot of energy and excitement around use cases, yet are still struggling to realize ROI. So, to maximize the ROI of gen AI efforts and investments, it’s important to move from ad-hoc experimentation to a more purposeful strategy and systematic approach to implementation.

ROI 124

ROI Experimentation Risk Cost-Benefit 124

Corinium

JUNE 6, 2019

Regulations and compliance requirements, especially around pricing, risk selection, etc., For instance, for a variety of reasons, in the short term, CDAOS are challenged with quantifying the benefits of analytics’ investments. What do you recommend to organizations to harness this but also show a solid ROI? It is fast and slow.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

CIO Business Intelligence

MARCH 6, 2024

Multiple attacks on well-known manufacturers have ended with huge expenses, including Austrian aerospace parts maker, FACC AG, which lost $61 million thanks to a phishing scam , and Norsk-Hydro , which was hit by a ransomware attack that cost $75 million. Attacks against OT systems pose risks beyond financial losses.

Manufacturing 126

Manufacturing Cost-Benefit ROI IoT 126

datapine

FEBRUARY 22, 2022

2) BI Strategy Benefits. Without real-time insight into their data, businesses remain reactive, miss strategic growth opportunities, lose their competitive edge, fail to take advantage of cost savings options, don’t ensure customer satisfaction… the list goes on. Benefits Of Implementing a BI Strategy. Table of Contents.

Business Intelligence 218

Business Intelligence Strategy Cost-Benefit Dashboards 218

CIO Business Intelligence

MARCH 10, 2023

These, in turn, have brought with them an increase in new threats, risks, and cybercrime. As organizations emerge post-pandemic, many of the risks and uncertainties manifested during that period will persist, including the hybrid workforce, supply chain risk, and other cybersecurity challenges.

Digital Transformation 143

Digital Transformation Cost-Benefit ROI Risk 143

CIO Business Intelligence

JUNE 9, 2023

Without it, businesses incur steep costs, but the downside, or costs, are often unclear because calculating data management’s return on investment (ROI), or upside, is a murky exercise. For many organizations, the real challenge is quantifying the ROI benefits of data management in terms of dollars and cents.

Strategy 116

Strategy Management Key Performance Indicator Cost-Benefit 116

CIO Business Intelligence

AUGUST 15, 2024

Many of those gen AI projects will fail because of poor data quality, inadequate risk controls, unclear business value , or escalating costs , Gartner predicts. Gen AI projects can cost millions of dollars to implement and incur huge ongoing costs, Gartner notes.

ROI 143

ROI Cost-Benefit Experimentation Deep Learning 143

Smart Data Collective

SEPTEMBER 30, 2021

Big data and the artificial intelligence technologies used to leverage it can go beyond market predictions, and you can use data to improve working processes and optimize your return on investment (ROI). In this post, we’ll explore how organizations can leverage big data and AI instruments to improve their ROI.

Big Data 139

Big Data B2B ROI Cost-Benefit 139

datapine

JANUARY 6, 2022

Before any serious data analysis can begin, the scale of measurement must be decided for the data as this will have a long-term impact on data interpretation ROI. Now that we have seen how to interpret data, let’s move on and ask ourselves some questions: what are some data interpretation benefits? minimal growth).

Visualization 246

Visualization Dashboards Cost-Benefit Measurement 246

CIO Business Intelligence

MARCH 25, 2024

And they want to know exactly how much return on investment (ROI) can be expected when IT leaders make technology-related changes. CFOs have grown comfortable with the traditional project-based approach, through which they believe they get a better handle on spend certainty and a better sense of ROI.

Modeling 124

Modeling Cost-Benefit IT ROI 124

Smarten

FEBRUARY 26, 2025

It may be difficult to understand how such complex systems can benefit from the no code, low code approach, since the very concept of this approach seems at odds with the complexity of an analytical solution, but nothing could be further from the truth. Read our free article, The Benefits Of Low-Code No-Code in Augmented Analytics.

Analytics 64

Analytics Cost-Benefit ROI Visualization 64

datapine

NOVEMBER 5, 2019

All areas of your modern-day business – from supply chain success to improved reporting processes and communications, interdepartmental collaboration, and general organization innovation – can benefit significantly from the use of analytics, structured into a live dashboard that can improve your data management efforts. Instant insights.

Dashboards 220

Dashboards Cost-Benefit Sales Metrics 220

CIO Business Intelligence

MARCH 19, 2025

Additionally, Deloittes ESG Trends Report highlights fragmented ESG data, inconsistent reporting frameworks and difficulties in measuring sustainability ROI as primary challenges preventing organizations from fully leveraging their data for ESG initiatives.

IT 59

IT Data Governance Data-driven Metrics 59

Smart Data Collective

JUNE 2, 2022

This arguably one of the most important benefits of cloud technology in the modern economy. ROI-Driven Concept. E-procurement technology gives you an opportunity to enhance your ROI. E-procurement technology gives you an opportunity to enhance your ROI. The cloud helps expedite the procurement process at your firm.

Technology 144

Technology ROI Cost-Benefit Data-driven 144

CIO Business Intelligence

OCTOBER 12, 2023

In the business world, service desks are commonly designated as cost centers, a label that can sometimes limit their access to essential resources and support. Additionally, employ the business case as a tool to tackle potential risks and develop strategies for their mitigation.

Strategy 111

Strategy ROI IT Cost-Benefit 111

Smart Data Collective

MARCH 23, 2023

Some companies are interested in taking advantage of the benefits of existing AI tools like ChatGPT. The ROI of creating their own AI applications can be massive, but they still need to use them cost-effectively. A study done by Deloitte in late 2022 showed that cost reduction is the top priority for CFOs.

Software 142

Software Strategy Cost-Benefit Testing 142

datapine

OCTOBER 11, 2023

Keep on reading to learn a definition, benefits, and a warehouse KPI list with the most prominent examples any manager should be tracking to achieve operational success. It allows for informed decision-making and efficient risk mitigation. With the power of data, you can boost your warehouse efficiency at the lowest possible cost.

Metrics 217

Metrics KPI Management Cost-Benefit 217

datapine

NOVEMBER 13, 2019

If your procurement process costs you valuable time and incurs unnecessary costs, you may end up falling behind your competitors. The price of light is less than the cost of darkness.” – Arthur C. There are a host of benefits to procurement reporting. f) Reduce and avoid unnecessary procurement costs to the business.

Reporting 158

Reporting KPI Cost-Benefit Metrics 158

datapine

JANUARY 24, 2021

An average business user and cross-departmental communication will increase its effectiveness, decreasing time to make actionable decisions and, consequently, provide a cost-effective solution. Or even better: “Which marketing campaign that I did this quarter got the best ROI, and how can I replicate its success?”. Giving the most ROI?

IT 317

IT Statistics KPI Data-driven 317

datapine

APRIL 21, 2022

When you have set KPIs and got the right digital marketing tools at your disposal, your business will benefit from the following: 3. Later, your team can find the right channels that offer better ROI. Additionally, to track the success and performance of all your social efforts you can benefit from an interactive social media report.

Digital Transformation 206

Digital Transformation Marketing Advertising Scorecard 206

Jet Global

JUNE 30, 2020

They get a leg up on the competition, launch new innovations, and benefit as the economy moves back in a positive direction. CFOs have an opportunity to play a key role in positioning their companies for a successful rebound by carefully assessing return on investment (ROI) and helping the C-suite make the right capital investments.

ROI 59

ROI Uncertainty Finance Cost-Benefit 59

CIO Business Intelligence

MAY 9, 2023

Like most CIOs you’ve no doubt leaned on ROI, TCO and KPIs to measure the business value of your IT investments. Of late, concerns about the public “cloud-first” approach have emerged to challenge business value and skewer ROI, TCO and KPIs. Others conducted apples-to-apples comparisons of public cloud versus on-premises costs.

ROI 126

ROI Cost-Benefit KPI Uncertainty 126

CIO Business Intelligence

SEPTEMBER 24, 2024

Organizationally, Wiedenbeck is a member of Ameritas’ AI steering committee, called the “mission team,” which includes the legal and risk officers, along with the CIO. See IDC PlanScape: Unit-Based Costing to Optimize IT Performance for an exploration of how unit cost can be applied to digital products and services.)

IT 130

IT Insurance Cost-Benefit Risk 130