I’ve started writing articles for CIO Dive, an editorial website for CIOs (part of the Industry Dive group of targeted publications). So far, the editor likes my idea of profiling CIOs after they’ve been in a job for about 12 months. I figure that, after a year at a new company, CIOs may be comfortable enough to talk about early accomplishments and what’s on their agenda for the future.
First up: Michael Smith, the CIO at cosmetics company Estée Lauder Companies Inc.in New York. He’s moving the IT organization towards speedier software development; data analytics to anticipate consumer trends; and more business-focused innovation. He also moved most of the New York area IT staff to a “technology hub” in Long Island City, an up-and-coming neighborhood in Queens. The office space — full of conference rooms and innovation labs — is intended for business & IT collaboration.
Analysts say that, so far, the company has done a good job of anticipating market shifts in the fickle, fast-moving beauty market (where an Instagram photo of a celebrity’s new lip gloss and can trigger a spike in sales). But it will need to use data analytics to continue that success.
As for CIO Dive, my goal is to boost the “CIO voices” in their content offering.
By my count, at least two dozen organizations have created a “center of excellence” (CoE) for data analytics, business intelligence, artificial intelligence, and machine learning. (Most are called the Analytics Center of Excellence (ACE), or something very similar.) In my latest IDC report ($$$$),Creating and Managing an Analytics Center of Excellence, ACE directors describe their methods of keeping their centers focused on high-impact business projects. (Otherwise, data scientists may stray into intellectually interesting pursuits that don’t produce business ROI.)
The report includes insights and advice from the following CoE directors: Philip Jenkins at Verizon Communications Inc.; Margery Connor at Chevron Corp.; and Constantinos Kotopoulos at Information Resources Inc. (IRI).
I’ve launched a newsletter called Digital Business on the Substack platform, which is designed for subscription-based editorial newsletters. The intended audience is “digital executives,” such as CIOs, CTOs and CDOs, although I can also imagine other job roles that would find this market intelligence very valuable.
The newsletter is currently free, but I hope to eventually make it a paid subscription product, to compensate me for the huge amount of research, writing, and fact-checking that goes into it.
The first three editions are out, with lead stories about:
In addition, each issue typically has news briefs about innovative digital initiatives at U.S. corporations; C-suite job openings; and recent appointments of digital executives (who’s in, who’s out). Sometimes there’s a “brain food” section, with thought-provoking quotes about digital business and innovation.
To compile this newsletter, I read dozens of newsletters, articles, and websites each week. Obviously, I’d love to have you subscribe and find out what I’m discovering about real-world digital business initiatives & executives.
Data governance — defined as “the exercise of authority and control over the management of data assets” — is often perceived as boring and bureaucratic, and often gets bogged down in complexity. But it needs to be revitalized to ensure that organizations can rely on the data they’re using for data-driven decisions. That’s especially true in a digital economy where more decisions will be made by analytics, algorithms and artificial intelligence, without human intervention. (Bad data will produce bad decisions, P.D.Q.)
My latest IDC report, “Practices to Revitalize Data Governance,”($$$$) examines how digital executives are taking a more pragmatic and strategic approach to data governance — to avoid getting bogged down. Savvy CIOs are revitalizing data governance with a streamlined approach that tells a more attractive story: Governance produces data the organization can trust.
The report is based on interviews with Richard Williams, CIO at Celgene Corp.; Juan Gorricho, vice president of data and analytics at TSYS, a global payments services provider; and David Chou, chief information and digital officer at Children’s Mercy Hospital in Kansas City, Missouri.
Many CIOs are interested in creating data products for external sale — i.e., data monetization — to generate revenue. But not many know how to get started. It’s a dramatically new activity for most enterprises (outside of data brokers like Acxiom, Dun & Bradstreet, and Experian). It requires turning raw data into a high-quality product and building a full-fledged, customer-focused business around that data product, including hiring product managers and salespeople.
My latest IDC report ($$$$), “Creating Data Products,” is intended to help CIOs get started down this road by learning from some of the pioneers: Charles Thomas, chief data analytics officer at General Motors Corp.; Justin Kershaw, CIO at Cargill Inc.; and Sakti Kunz, data monetization expert at Honeywell International Inc.
The report cites best practices such as:
Ensure CEO support for risk-taking data ventures
Turn raw data into high-quality products that solve customer “pain points” or “data gaps”
Staff up with customer-focused, product-oriented talent
The initiative may be led by the CIO or by the chief data officer in close cooperation with the CIO. Either way, the role of the CIO in data commercialization is multifaceted: catalyst, educator, talent recruiter, and builder of a secure data platform.