CIOs Look For Data-Driven Business Opportunities

The role of chief information officers (CIOs) is gradually expanding beyond the traditional IT responsibilities, with many of them being tasked with identifying new data-driven business opportunities.

Some IT leaders are interacting directly with their company’s customers, as they are trying to gain first-hand knowledge about their concerns, according to IDG’s annual survey of CIOs.

“For the past 10 years, the majority of CIOs have had a transformational focus (currently 42%), however, this year, there is strong momentum in CIOs taking on more strategic responsibilities (40%),” the report noted.

Customer experience is one of the top three areas the CIOs are focusing on. In the survey, 67% of respondents stated that they had undertaken the task of creating new revenue-generating initiatives.

“To complete this task, CIOs are creating business case scenarios with defined costs and benefits, creating teams focused on innovation, and directly interacting with the customer,” the report said.

Considering the report, businesses will likely invest a large sum of money in tech solutions that improve customer experience. In other words, they will spend money on building chatbots and developing mobile apps that optimize their business operations.

“This is an exciting time for CIOs, as their responsibilities continue to transition to provide value in both business growth and strategic initiatives,” said Adam Dennison, CIO at IDG. “Line of business executives recognize that senior IT leaders are no longer only essential for optimizing IT infrastructure, but also for driving revenue and innovation.”