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Benchmarking

Use Brute Force If You Want Innovation in Your Company

Every company on Earth claims it is pursuing and actively fostering innovation, but come on—if that were the case, everyone would be Google. The truth is that, for most, unlocking innovation is about as well understood as using black magic to summon spirits. But in an article for Harvard Business Review, Dylan Minor, Paul Brook, and Josh Bernoff take data from 3.5 million employees to arrive at more concrete, definitive pathways to enabling innovation. Crowdsourced …

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Are You Accurately Measuring Your Company’s Digital Strength?

Traditional metrics measure traditional things, and the wave of digital transformation is anything but traditional. In an article for Harvard Business Review, Jeff Maling, Rod Fertig, and Arun Muthupalaniappan share three new metrics for measuring digital strength that they have identified. These metrics are the result of analyzing trillions of data points collected from 1,000 U.S. companies: Digital magnitude Digital share Digital momentum New Metrics for New Times The authors describe digital magnitude as the …

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5 Ways to Unlock Win-Win Value from IT Services Sourcing Relationships

“Annual global spending on external IT services is about $900 billion” according to McKinsey, but the relationships between IT buyers and providers could be better. Both buyers and providers struggle to set and prioritize their objectives, meaning that neither is fully prepared to work with the other. In an article for McKinsey & Company, Rahil Jogani, Aditya Pande, and Vikrant Shirdade share five ways that sourcing relationships can improve, based off data from hundreds of …

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How to Transition into Becoming the CIO the Business Demands

You have been getting hit over the head with this news for a few years now, but—the CIO role has evolved. Research from Deloitte University Press however has examined the specific trends that are emerging in the ways and the reasons that CIOs are transitioning into new roles. Deloitte finds transitions ultimately occur according to three dimensions: time, talent, and relationships. Why a New Role? In the first place, the primary reasons respectively why CIOs …

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Use the ‘Friday Afternoon Measurement’ to Assess Data Quality

Not all data is good data. In fact, one study involving 75 executives found that only 3 percent of all company data met minimum quality standards. In an article for Harvard Business Review, Tadhg Nagle, Thomas C. Redman, and David Sammon share more results of this study, and they offer a useful way of measuring data quality in your business. Time to Lose Confidence The authors use what they call the “Friday afternoon measurement” (FAM) …

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Reviewing the Purpose and Value of Benchmarking

To the uninitiated, benchmarking just sounds like a fancy way of saying “tracking metrics and progress.” That of course is wrong, but without education, nobody could be blamed for assuming that. In an article for the Balance, F. John Reh with Art Petty provides a useful overview of what benchmarking really is and why it is valuable to business. The Basics Benchmarking is about comparison, internally or externally. Benchmarking is typically “the process of comparing …

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10 Insights into the Emerging Use of AI

The truth is AI is still a dumb infant—but that means a lot of businesses are becoming hesitant first-time parents. A study surveying over 3,000 executives and 160 case studies globally has taken a pulse on early AI usage. In an article for Harvard Business Review, McKinsey’s Jacques Bughin, Brian McCarthy, and Michael Chui derive 10 insights about AI from the study that you need to know: Most businesses are not using AI yet. AI …

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Why Is Digital Benchmarking Important?

You can benchmark virtually anything as long as you have a really good reason for it. In an article for Entrepreneur, Paulius Stankevicius considers the value of digital benchmarking in sales and marketing contexts. He discusses broadly how to make the experience worthwhile. Get Those Digits Stankevicius discusses the benefits of digital benchmarking like this: Digital benchmarking gets the answers related to online performance. This analysis opens up the very hard to answer questions such …

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3 Little Principles with Benchmarking

To be the best in any industry or vertical, you first need to know what the best would have to look like. That is where benchmarking comes in. But if you are a little guy comparing yourself to the biggest guys, you might take away the wrong conclusions from the comparison. An article at Utech examines three small principles to keep in mind when benchmarking in order to arrive at more meaningful conclusions: Culture replication …

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CIOs Will Shape IT’s Future Value Proposition

According to McKinsey, businesses agree on the strategic value of IT and technology to improve performance, but they do not trust their IT leaders to get them there. They have shared the results of a study of 709 executives, 395 of whom are technology-centric, and it shows that IT has a bright future if CIOs can just live up to what the business wants from them. Withholding the Future Right now, executives believe that IT …

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