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Aside from moving thousands of employees from the office, call center, and factory floor to home overnight, they’re using these technologies to rejigger supply chains, stand up entirely new e-commerce channels, and leverage AI and predictive analytics to unearth smarter and more sustainable ways to operate.
As the chief information officer, the CIO should play a more central role in designing next-generation executive information systems that can help a company’s top managers extract value from the data that surrounds them. Three major factors often hinder success.
Just how do major organizations use data and analytics to inform strategic and operational decisions? Senior leaders provide insight into the challenges and opportunities.
The benefits are faster time to market, simplified innovation and scalability, and reduced risk. The cloud lets companies innovate quickly, providing customers with novel digital experiences. It also enables organizations to use bespoke, cutting-edge analytics not available on legacy platforms.
Their focus is never just tech—it’s also strategy, talent, operating model, data, and scale and adoption. Check out these insights to understand how your organization can rewire to capture value—or risk joining the pool of increasingly distant laggards.
Longer term, companies can nearly double that savings rate by redesigning and automating core processes, integrating advanced technologies, and embedding new ways of working. To get these benefits, here are the four things that leaders need to do.
Software sourced by companies from cloud-service platforms, open repositories, and software as a service (SaaS) is growing at a CAGR of 27.5 percent from 2021 to 2028. 18. Shift: IT becomes the enabler of product innovation by serving small, interoperable blocks of code.
Innovative companies use technology to help them base decisions on facts and data at levels far beyond their peers. This externally informed mindset reduces vulnerability to biases and internal politics—and enables the company to rapidly course-correct its strategies, R&D priorities, and portfolios of initiatives.
In a digital context, companies must get more creative in the channels they are using to enable the new, quicker ways of working and the speedier mind-set and behavior changes that a digital transformation requires.
Attacks on corporate information systems by hackers, viruses, worms, and the occasional disgruntled employee are increasing dramatically—and costing companies a fortune. Last year, US businesses reported 53,000 system break-ins—a 150 percent increase over 2000 (Exhibit 1).