3 technology leaders weigh in on IT's need to create new moneymaking opportunities

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CIO Roundtable

The to-do list for today’s most innovative IT organizations continues to grow beyond technology. They are now expected to be business strategists, marketers, innovation leaders, customer experience specialists, and revenue drivers. In fact, CEOs are increasingly calling on IT to develop new moneymaking opportunities.

A 2016 report from Harvey Nash and KPMG found that: “The CEO continues to be interested in IT projects that make money. Almost two-thirds (63 percent) indicate this is a priority, compared to approximately one-third (37 percent) who report that the CEO is more interested in IT predominantly being used as a cost-saving tool.”

How are leading IT executives identifying opportunities for new digital products and/or processes? The Enterprisers Project gathered three IT executives to discuss how they’re tackling it in their organizations and the important role data plays in their efforts.

In this roundtable discussion you will:

  • Learn some of the key ways the IT organization at Jet Propulsion Laboratory is thinking about data as a tool for new product creation. From the simple (shifting the language they use from IT speak to more outcome focused discussions) to the more complex (getting everyone on board with opening data), the roundtable features great lessons from Tom Soderstrom, chief technology and innovation officer for JPL's Office of the CIO
  • Find out how Monsanto CIO Jim Swanson has implemented a whole structure around experimenting with new technologies to determine what holds promise for the business. From a “digital outreach team” that tries to meet with 250 startups each year to contributing to open source, Swanson explains how his IT organization makes innovation and disruption part of what they do. 
  • Learn how making data a shared raw material across teams at The Weather Company has allowed the organization to spend more on data. Bryson Koehler, chief technology officer for IBM Watson and IBM Cloud, discusses how shifting the mindset about how data was treated has helped the organization.

Download: “IT as the new strategic revenue generator” for these insights and more. 

Ginny Holden is an independent consultant who brings the practice of IT to life through memorable storytelling.