by Peter High, published on Forbes
I have had the privilege of being a judge on a number of awards bestowed upon leading chief information officers. Many of them have an innovation theme of one sort or another. I have also had the opportunity to speak with a great number of CIOs, and for those who have an innovation mandate, I have had a chance to speak with them about what constitutes innovation.
For many of these executives, innovations have been centered around cost savings initiatives. It should be noted that cost savings initiatives can be tremendously innovative, so these CIOs should be proud of their teams’ efforts.
There are also a small but growing cadre of CIOs who help drive top-line growth. These revenue generators are the alpha CIOs. They recognizing that in running IT, there is gold in the “I” – information is king, and if that can be synthesized in the right way to provide new insights on how to better serve customers, or if it can be used to help develop a new, innovative product or service, tremendous rewards can be reaped for the enterprise.
In preparation for this month’s Forbes CIO Summit, we asked CIOs to apply for a newly minted award, which we call the Forbes CIO Innovation award. Revenue augmentation was a key criteria used to judge the many applicants who applied. The four winners of the award are: