Published 19. Aug. 2016
Three Game-Changing Megatrends According to CIOs
According to the Management Events Executive Trend Survey, CIOs invest in the following to achieve their customer experience goals:
- Mobile and Social to engage customers and end-users.
- Analytics and Internet of Things to create new businesses.
The Mobile-First Strategy
Mobile is fast becoming the primary media for everyone — executives, employees, and customers alike. According to a CIO from the media industry, “Everything we’re doing is going mobile. When you think about where our customers reach us, it’s all on the smartphone. Fifty percent of our traffic in 2014 came from smartphones, and it might be as much as 70-75% two or three years from now.”
Drivers of Mobility Initiatives:
- 60% Increasing Operational Efficiency
- 52% Improving Customer Interactions
- 47% Improving Employee Productivity
Focus on Smart Data, Not Big Data
There’s no shortage of data. In fact, there’s too much data, which is still growing, that’s why CIOs are concerned about being data rich and information poor. Siemens AG’s Head of Operational & Performance Controlling Stefan Kandlbinder has this to say, “My advice would be not to focus on Big Data but on Smart Data that provide value for your business. It has to be effective and then efficient. He also adds that for data to be effective it must be the correct ones with the right size or amount.
Drivers of Big Data Initiatives:
- 39% Improving Customer Profitability
- 37% Forecasting Customer Behavior
- 35% Improving Customer Experience
The Internet of Things is Coming Soon
The Internet of Things, although still in its developmental stage, is a strategic technology-enabled value-adding concept. It’s particularly interesting for CIOs as its potential for creating a whole new value to customers is endless. Since it can combine technologies, it can increase efficiency, improve customer satisfaction, and provide new revenue streams once fully developed.
Drivers of Internet of Things Initiatives:
- 49% Creating New Digital Product
- 46% Creating new service-based business models and revenue streams
- 36% Improving Customer Service Quality
Management Events surveys more than 20,000 decision makers and produces more than 200 reports a year. For insights into C-level priorities, strategic development initiatives, and investment actions, visit the Trend Reports Download Page »