From big data to big value: a number game
The value of big data lies in the insights which you extract from it. Big data is not only about large and growing volumes of data, but it is also about the greater speed, variety and complexity. Organizations should look at big data as an opportunity, rather than only a challenge, by searching combinations in data and creating innovative insights to have a better competitive edge. New to organizations is the use of information coming from outside the company, through e.g. social media. This information category is already taking up the largest chunk of all existing information and is constantly growing. Few organizations know how to deal with this.And what role should the CIO play in this information process?
In any case, the CIO has to be good at numbers. During the very successful CIO Day 2011, on November 14th and 15th, a lot of numbers came up. Rob Beijleveld, publisher of CIO Magazine set the numbers of leadership thing in motion titling the session, "Me, Myself and I5." The Five "I's" which form the basis of CIO leadership excellence are: Information, Intelligence, Inspiration, Innovation, Interaction.
The focus of the CIO is no longer on the 'T' of technology. Wouter Bos, former finance minister and now Partner at KPMG, in his opening plenary keynote suggested that we even might want to add another "I" – intuition. That makes six...
FIVE Level Framework of the IT Leadership Triangle
Aloys Kregting, CIO at DSM and CIO of the Year in 2011 opened the "Mastering the 5 I's: Big Data and Beyond" Master Class by sharing his five level framework for creating value with IT in complex organizations. The five levels are: Governance, People and Organization, Master Data, Business Processes, IT Systems.
TWO Kinds of Curves
During my remarks, I shared with CIOs the fact that they seem to be always balancing between being operationally excellent regarding the current learning curve [i.e., the curve they are on] and being innovative/courageous in anticipating the curve that comes next. Thornton shared data that indicated that we have ridden the current curve just about as far as it will go.
In the plenary, I shared the story of Captain Sully Sullenberger who safely landed US Airways Flight 1549 on the Hudson river. The flight recorder tapes indicated that in the very short time span of 75 seconds Sullenberger was able to mentally "jump curves" and migrate from focusing on saving the $60 million dollar aircraft to allocating all his energy to saving the 155 passengers. The lesson here is that when the environment changes, you have to change too. The environment has changed for CIOs. The environment mandates "getting busy" with big data. The ability to extract value from data, produce insights and inform decisions and action is no longer a nice to have capability. It is a must have core competence.
FOUR Technology Disruptions
Then there are four fundamental technology changes that will "disrupt" business models. They are: Big Data, Mobility, Social Media, Cloud
And finally, FOUR Types of CIOS
Dr. Martin Mocker, Research Scientist, Center for Information Systems Research (CISR) at the MIT Sloan School of Management shared with attendees his research regarding four distinct types of CIOs:
Services CIO [provides IT services firm-wide and manages the IT unit and vendors]
Embedded CIO [works with non-IT colleagues, focused on strategy, business process execution and innovation, new product development and compliance]
Enterprise Process CIO [manages tasks such as sourcing, facilities, operations, shared services]
Customer CIO [works with external customers/partners to sell and provide IT-enabled products and services]
What all these numbers mean is that the role of the CIO is changing. One of the most important opportunities facing CIOs today is to embrace Big Data/Big Analytics and take the enterprise to the next level of performance.
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