Cloud technology has become essential for CIOs to develop new revenue streams, as they can now lead by having rock-solid cloud strategies and prep for future innovations.
Cloud technology has a significant impact on businesses and their marketing tactics, and they are reaping outcomes with the betterment of revenue generation. The cloud has been a support for CIOs for a smooth digital transformation of operations and businesses. Higher revenues, excellent customer service, improved business opportunities, productivity, and more are some of the advantages on the CIO’s table.
If CIOs are to leverage and lead with cloud strategies, they should begin developing targeted hitting strategies with business objectives in mind.
Here are the scalable ways CIOs can lead with efficient cloud strategies to reap more business revenue and deliver customer value.
Building Flexible Multichannel
Businesses have realized the necessity for data-driven decisions amid the changing business landscape. Up until today, many companies face cloud-related challenges and work much harder to gain business value. That’s why now is the time to break the barriers and enhance the online engagement of businesses with their customers and revenue.
CIOs can foster flexible multichannel by connecting cloud and analytics strategies to bring virtual customer interaction opportunities. How can they do it? Here are the checklists for that:
- Connect business data to cloud strategy using analytics. They should be integrated and linked to gain relevant customer insights and plan for their actions.
- Cloud migration delivers innovation. All the business information, assets, and stacks should align with the cloud to begin new business functions.
- Embrace new ways of working with a collaborative cloud culture to operations.
- Develop a bespoke process with cloud expertise and engineering power.
Empower Accurate Forecasting through Data
Many organizations struggle with a lack of data visibility across their complex supply chain. As a result, CIOs face negative business impacts, non-accuracy of forecasting, and employee productivity. But now, businesses that are well-equipped with cloud technology stacks have full-stack analytics deployment. With the support of AI, enterprises are leveraging advanced cloud platforms and performing their business operations efficiently. The cloud approach provides visibility of end-to-end supply chain data. This helps CIOs to forecast business opportunities through data instead of monthly and improves accuracy. How can CIOs leverage the influence of analytics?
- Eliminate analytical silos and organize data
- Build data on cloud solutions specific to business essentials
- Upskill workforce to embrace a data-driven culture to foster the right business decisions
- Introduce flexibility with data on the cloud by leveraging data-driven insights
Introduce Innovation with Data Analytics
Most CIOs have agreed that their data-driven approach benefited their business with the right decisions when required. They realized and witnessed business value at scale with the help of cloud innovation. Data analytics in the cloud serve as a bank for enterprise leaders to get better insights about their customers and bring innovation to their actions that could unlock revenue hike opportunities.
However, to generate data insights at scale, CIOs must unify all data sources under a roof that calls for expertise. Connecting all data and building a data-driven culture for employees is crucial as they need the ability to process, analyze, and extract insights from the treasure trove of data.
Being a data-led organization is absolutely imperative to business success. A data-driven business can’t be successful if data is fragmented and inaccessible. What should CIOs focus on further?
- Begin an initiative to embed data literacy across the organization and shift employees away from conventional processes.
- Democratize access to data among employees to make them aware of what customers are finding and how are they reaching for services/solutions.
- Employees should have a fair shot at advancing cloud skills and applying that knowledge to serve data better.
Cybersecurity is the foremost cloud capability CIOs should focus on to bring business value. CIOs worry the most about cloud privacy and associated threats. They even consider cloud threats significant barriers to realizing the cloud’s potential. Cloud providers are responsible for keeping cloud infrastructure secure for secure usage. Still, in reality, it’s a shared responsibility of cloud and IT, both for managing access rights and using tools to enhance cloud protection. The tools also help CIOs anticipate cyber threats and to improve data protection at scale. This makes tech leaders also take the lead on priority in refining operating models into more agile.
Forging Ahead with Cloud
The responsibilities of CIOs have evolved over the last few years and will remain core in the coming years. It’s because businesses are no longer going back to the traditional version. Instead, it will witness more agility. Therefore, prompting CIOs to become more strategic and collaborative with tech stacks is the need of the hour. One of the ways to do that, is for CIOs to have a comprehensive cloud strategy.
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