In the past, the CMO and CIO have had a tenuous relationship, with each role vociferously complaining about the other's lack of understanding, knowledge, and respect.
However, two powerful exponential trends (growth rates of data and technology), will dramatically affect enterprise operations, forcing the marketing and IT functions to communicate and collaborate like never before.
To survive and capitalize on those trends, CIOs and CMOs will have to align strategies, pool resources, communicate more effectively, and find common ground wherever possible. The future viability of the enterprise depends on it.
Exponential Growth of Technology and Data
A technological and data-driven revolution is underway, and in some instances it is happening right under our noses.
Moore's Law, conceptualized by Intel pioneer Gordon Moore, states that the number of transistors per microprocessor will double every two years. This exponential increase in processing speeds for various machines/devices will eventually enable advances in economics, biology, technology, business, and other key fields.
The second powerful exponential trend is the increasing amount of data that companies must contend with on a daily basis. According to a Forrester Research report titled "Data, Data Everywhere," the "volume of the world's data doubles approximately every three years"!
Companies around the world are literally drowning in data. A typical airline or retailer, for example, is collecting data from myriad operational systems and storing terabytes, if not petabytes, of data.
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