Australian CIO Summit 2018

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  • The Development of Data-Driven Organisations 

    Tristan Sternson from InfoReady, a sponsor company at the marcus evans Australian CIO Summit 2012, on turning data into actionable intelligence.

    Interview with: Tristan Sternson, Managing Director, InfoReady

    FOR IMMEDIATE RELEASE

    “In organisations today, only 20 per cent of data is being used while 80 per cent is discarded,” says Tristan Sternson, Managing Director, InfoReady. Chief Information Officers (CIOs) must start turning data into meaningful insights quicker, he adds.

    From a sponsor company at the upcoming marcus evans Australian CIO Summit 2012, taking place in Queensland, Australia, 23 - 25 July, Sternson shares his thoughts on Business Intelligence (BI) and Big Data. 

    How can CIOs transform data into actionable intelligence?

    CIOs are being asked for more when it comes to data, as businesses today are very savvy around the different types of data that are out there and how they can use that to their advantage. CIOs must be able to take data and turn it into meaningful insights quicker. They need to turn the old saying of “People, Processes and Technology” into actionable intelligence.

    The “I” in CIO is becoming more and more important, as the industry has become immensely data-driven. Data is now at the heart of everything and will soon become the number one asset across businesses. CIOs are responsible for managing, maintaining and ensuring their business is gaining value out of it.

    What is Big Data?

    Big Data consists of multi-structured datasets that come from so many sources and grow so large that they become awkward to work with using on-hand database management tools. It is crucial for organisations to join all these sources of data together, as BI and analytics have become increasingly significant in a “smarter data” world.

    People often ask if Big Data will really affect Australia, a country with only 22 million inhabitants, as opposed to China with over one billion. My response is absolutely. It is not just about the volume but about the velocity and variety. It is handling data bigger than we are used to. People must invest in the notion of being a data-driven organisation.

    How can organisations handle Big Data?

    In organisations today, only 20 per cent of data is being used while 80 per cent is discarded. CIOs must utilise that unexplored 80 per cent through three V’s of Big Data: Volume, Variety and Velocity. Variety is of the different type, structure, source and variety of data, Volume is the increasing amount of data and Velocity is how quickly that data can be put together. With real time information from live data sources such as Twitter, nobody can wait 24 hours.

    Organisations are scared because they believe it is more difficult to handle, store and understand data in larger volumes, whereas it is the opposite. It is like putting a jigsaw together; the more pieces you have of the puzzle, the easier it is to slot together.

    How can CIOs create value through data and information for the organisation?

    CIOs are now becoming enablers and creating competency centres where all employees in the business can turn data into meaningful insights and analytics. This allows businesses to churn out a lot more and not be so dependant on the IT department.


    Contact: Stacey Melvin, Journalist, marcus evans, Summits Division

    Tel: + 357 22 849 400
    Email:
    press@marcusevanscy.com


    About the Australian CIO Summit 2012

    This unique forum will take place at the RACV Royal Pines Resort, Gold Coast, Queensland, Australia, 23 - 25 July 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the evolving role of the CIO, data-processing activities, being a creator of value and mastering business responsibilities.

    For more information please send an email to info@marcusevanscy.com or visit the event website

    marcus evans group - information technology sector portal

    The Information Technology Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

                                

    Please note that the Summit is a closed business event and the number of participants strictly limited.

    About InfoReady

    InfoReady is a pure-play Information Management and Business Intelligence Consultancy that specialises in making Organisations Smarter by transforming data into actionable intelligence through our unique application of our expert team, processes and technology. We offer top-tier consulting services in Strategy, Delivery, Solution Design, Architecture, and both industry and technology SME’s.

    www.infoready.com.au

    About marcus evans Summits

    marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com


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