TECH BUYER Apr 2021 - IDC Perspective - Doc # EUR147632521
Making the Data-Driven Business Model a Reality: Winning Strategies from IDC's CIO Advisory Board
By: Archana VenkatramanAssociate Research Director, Cloud Data Management, IDC Europe, Philip CarnelleyAVP, European Software Group, Philip CarterPhilip Carter, Group Vice President, European Chief Analyst and WW C-Suite Tech Research Lead, Dan VessetGroup Vice President, Analytics and Information Management, Stewart BondResearch Director, Data Integration and Data Intelligence Software
This IDC Perspective examines the second Global CIO Advisory Board group discussion that occurred on March 26, 2021, hosted by IDC. During the event, 11 CIOs and CDOs from large organizations across multiple industries discussed their data strategies and ambitions around data monetization, use cases, analytics, automation, and governance. The advisory board also shared best practices on how to make data-driven business models a reality.
"Any CIO advisory board discussion focusing on best practices for a data-driven business models will be wide-ranging and will cover a broad mix of opportunities and challenges," said Philip Carter, GVP, C-Suite Research at IDC, "What is enlightening is that CIOs are increasingly focusing on use cases, business outcomes, and time to value from investments in data-driven business models. This attention on ROI will deliver the necessary value to fund future investments. Ultimately, it is about progressing from a strong data-driven business model to a data-driven company."