“Most big companies have the will to invest in digital innovation, but C-level leadership hasn’t yet found the way to manage it effectively,” according to Fortune.
Two separate surveys, undertaken by management consulting firms KPMG and EY, “underscore a disconnect between the priority information technology executives place on investments in business intelligence, analytics and the Internet of things—and the urgency with which their companies are moving.”
Three takeaways from the studies:
- The number of marketing teams that have exclusive control of digital strategies is shrinking; more are collaborating with IT teams.
- 17% of the surveyed CIOs are now working with a chief digital officer (CDO), compared with just 7% one year ago; another 5% plan a CDO hire within “several months.”
- More CIOs (50%) are seeking outside talent to supplement skills rather than simply to save money; the top priority centered on business intelligence and analytics.
“Slightly more than one-third of the 650-plus surveyed CFOs pointed to managing technology costs as the top concern of their relationship with their CIO. Building the business case for new initiatives ranked third, although it wasn’t all that far behind, relatively speaking… One thing winning over Part Time CFOs: they realize that improved analytics and data management practices are vitally important for future decision-making. At least half of those surveyed are being consulted on corporate strategy for these technology investments, but that number still needs to grow.”