Chief marketing officers (CMOs) and chief information officers (CIOs) share a similar challenge—how to turn big data into big profits. CMOs, tasked with driving growth, are demanding that the plethora of customer data their companies accumulate be turned into increased revenue. CIOs, charged with using technology to boost revenue, are insisting on better requirements for big data initiatives.
Amidst this table pounding is a central truth in today’s world—both the CMO and the CIO are on the hook for transforming data into above-market growth. Call it a shotgun marriage, but it’s one that both parties are under pressure to make successful, especially with data growing at 40% per year. To meet their goals, executives must change how they work―and how they work together.