What is Your Digital IQ
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20 June 2013
PwC recently released the results of their 5th Annual Digital
IQ Survey. Whilst the survey data is taken from the corporate world and
also aimed back at that market, there is valuable insight within it for
smaller businesses, and it shows how they can improve their use of IT.
PwC define Digital IQ as a measure of how well companies
understand the value of technology and weave it into the fabric of
their organisation. Companies with a high digital IQ donít view IT as
an add on, or something which is put in afterwards to resolve problems,
they realise that it must be one of the first considerations in every
business decision or strategic change.
The key finding of this years survey is that companies with
strong collaboration between the CIO and other board members, are four
times more likely to be in the top quartile of performance. The
analysis also shows that these companies are more likely to
aggressively invest in the four key digital technologies; mobility,
cloud computing, business analytics and social media, than other
Whilst a CIO may be rare in smaller businesses, the key
message is that strong executive leadership and collaboration are
crucial to building lasting value from information technology. In more
than four fifths of these top performing companies the board agreed
that their Chief Exec was a champion of IT, compared with 54% for other
So what lessons can you learn from this information and how
can you apply the findings to your own company, even if itís just you?
Well here are a few things you could consider:
- Is your CEO an active champion of IT use in your company?
- When a new business strategy is being developed is the role
and use of IT in that strategy a key part of the discussion?
- Are your IT investments, even small ones, made in
collaboration with the whole management team, and with a clear business
goal in mind?
- Is your management team actively examining how new and
emerging technologies, particularly the four key areas noted above, can
be used to help your business leapfrog the competition?
PwCís 5th Annual Digital IQ Survey: Digital Conversations and
the C-suite is available here.
However small your business, access to cheap but powerful IT
is now so ubiquitous, that it really should form the core of all your
business activity. If you are concerned about your companyís use of IT
or want more advice please Get In Touch for a no obligation discussion.
About the Author
John Norton, is a senior business and
finance professional with a big four, blue chip, software and
technology background, and board level leadership experience in
finance, IT, operations, customer service and general management.
He is owner of No Worry Web, which creates and manages small
business web sites and social media presence, for an all-inclusive
monthly fee. For further details see www.noworryweb.co.uk
or call 0845 5191 275. Authors Google+
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