In recent years, the role of the Chief Information Officer has evolved tremendously — with the amount of information each company collects and must manage. We caught up with Venture Partner Alan Ying to discuss some data points from the infographic below.
What’s the most significant change you’ve seen in the CIO role?
AY: The sheer amount of data that a company collects, must interpret and manage is astounding. This data helps management make key decisions — financial decisions, hiring decisions, marketing decisions — as to how the company moves forward. If you think about it, “big data” wasn’t even a term we discussed 10 years ago.
Do you see the CIOs role to continue to change? If so, how?
AY: For sure, the CIOs job description will change — this will happen as technology advances. I see the role of the CIO be just as important as the CFO. Financial decisions are being made based on data collected. If you can’t collect meaningful market and customer data, you can’t make informed operational decisions.
As healthcare reform is being implemented, an influx of data will be entering the healthcare system. How has the role of the CIO at healthcare organizations changed?
AY: The CIO is definitely going to become more involved and connected with various aspects of the healthcare provider organization. The CIO is no longer just purchasing, installing and maintaining patient accounting systems. It’s about integrating all the data the organization collects and make it usable and actionable.