Hi there,

Data may be the new oil, but it’s also sucking money out of local companies who, just like their global counterparts, are paying a high cost for data mismanagement.

While that’s not exactly unexpected news, a new report actually puts some figures on that cost claiming that on average it's around US$2 million a year thanks to missed opportunities, lost revenue and increased operating costs caused by data challenges.

But as we discovered this week, with over $2 returned for every dollar invested, it's a problem worth fixing.

In other news this week:

Finalists for NZ CIO Awards announced
Invenco pumps new boss for growth
AI’s power to do social good
Digital competency (or lack of) holding business back
Blockchain fatigue hits home

And speaking of the New Zealand CIO Awards, tickets for the hotly anticipated event are available now. The gala dinner is always a sell out and has been moved to Spark Arena this year to cater for the anticipated 950+ attendees, so book your table now.

Enjoy the read,

Heather Wright
Editor
editor@istart.co.nz

BIG DATA

The real cost of data mismanagement

Sloppy data management continues to hinder productivity and profitability. So what’s to be done?...

Yes, we get it: The age of big data offers grand opportunities.

“It’s important to take a long-range view of data as it moves from ‘cradle to grave’ and understand how each stage in its lifecycle can result in siloed, non-integrated processes.”

[Read more]

TECH AWARDS

CIO Awards finalists unveiled

Who’s who in the running for top IT awards…

Fifteen individuals and companies will be vying for top honours at the CIO Awards in Auckland next month, with the finalists announced at a gala event last night.

The 2019 CIO Award finalists have demonstrated excellence in delivering ICT and proven their ability to drive business transformation.

[Read more]

APPOINTMENTS

Self-service payment provider eyes further growth under new boss

As Gavin Lennox steps down and John Scott takes on CEO role, company eyes AU market…

Relentless requirement to improve payments security driving strong growth globally for NZ outdoor self-service payments solution provider Invenco.

This environment is always being driven by a relentless requirement to improve security.

[Read more]

ARTIFICIAL INTELLIGENCE

Google’s US$25m AI for social good boost

AI ethics is off the agenda, but Google digs deep for AI fund…

An Australian AI-driven suicide monitoring project has garnered US$1.2 million from Google as part of the tech giant’s push for AI for social good.

40 percent of the applications came from organisations with no previous AI experience.

[Read more]

DIGITAL TRANSFORMATION

Digital competency concerns plaguing business

But is it just a sign we’re winning in the DX game?…

DX may have gone from novelty to norm, but we’re still struggling with digital competency and it’s holding business back the Economist Intelligence Unit says.

57 percent of the high performers category saw a need to improve across all digital competencies.

[Read more]

BLOCKCHAIN

Blockchain fatigue hits 90 percent of supply chain projects

Still a solution looking for a problem…

Ninety percent of blockchain-based supply chain projects are in troubled waters because they can’t find suitable use cases for the technology according to Gartner.

Companies are forced to run multiple development pilots using trial and error to find ones that might provide value.

[Read more]

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