I have always posed the point that IT management has a much greater impact on the bottom line than a company’s management ever realizes. That's because the decisions they make today have a tail impact that may not be evident for years—by which time the impact will be unavoidable. A good CIO has to recognize this, and needs to weigh the future risks involved in the decisions and the strategies they make now, as these will become a part of the makings of a future cost structure which has limited or no room for reduction.
This blog originally appeared on TabbFORUM.
The big push over the past few years has been the move to create enterprise Data Lakes to provide a “single source of the truth,” along with control, efficiency and responsiveness. This often is done in line with major efforts, particularly in:
- Risk, where it was aimed at creating a consistent basis to draw the self-reconciling views across market, credit and finance; and in
- Legacy consolidation & re-engineering efforts, where it was to remove the duplication of data and its maintenance as a part of a mop up and displace process.