The ongoing economic, market and worldwide turbulence mean CIO priorities are evolving as we move through the mid-year point. There are numerous competing priorities and challenges plaguing CIOs. Among them:

Advancing Data Opportunities 

According to a recent CIO piece, advancing the use of data to move beyond measuring outputs and outcomes to drive long-term change or identify new revenue opportunities is a key focus area for data leaders. This topic is close to our hearts and something we’ve discussed in detail here at the APEX of Innovation. For example, this recent post examines how connected cars are a prime instance of insight monetization. What takeaways can be applied within your organization?

Training and Reskilling 

Organizations must also address training and reskilling considerations as they embark on increasingly complex analytics initiatives. A recent Foundry report found that IT leaders will commit 46 percent of their data and analytics budgets to talent recruitment and upskilling efforts. In addition, four in ten respondents said they plan to recruit talent with the skills to provide analytics training to non-technical staff. For more on what organizations should do to encourage data literacy among the latter group, check out this previous APEX of Innovation post.

Growing Demands for Transformation 

As CIOs struggle to overcome the skills gap and address governance and quality concerns, they face ever-increasing demands for digital capabilities throughout the company. The roots of this acceleration can be found in organizations’ responses to the pandemic. This rapid digitization laid the foundation for more advanced transformations and created new follow-on opportunities. Today, many companies must capitalize on them while prioritizing other IT projects.

Cost Containment 

Inflation, ongoing recession worries, and concerns surrounding stagflation have executives revisiting their budgets. As this happens, CIOs are feeling pressure to deploy technology to drive down costs both within IT and throughout the organization.

Head over to CIO for more on these and other IT leader concerns.