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What Does IT Business Value Look Like? - ITChronicles
IT service management (ITSM) veteran Paul Wilkinson asks why business and IT leaders continue to struggle with the concept of IT business value. He argues for a sharper focus on value, outcomes, costs, and risks. Read more...
IT service management (ITSM) veteran Paul Wilkinson asks why business and IT leaders continue to struggle with the concept of IT business value. He argues for a sharper focus on value, outcomes, costs, and risks. Read more…
If we don’t know, then how can we deliver it value?
Question: Why do we struggle so much in understanding and demonstrating VALUE with IT? Notice I did not say WITHIN IT. This is not simply an IT issue. It crosses the CHASM that is held in place by both Business & IT. In this article I will be focusing on ITSM value, not broader IT value.
First let us look at the facts
Fact: The card below is still, after more than 15 years, the number 1 chosen ABC (Attitude, Behavior, Culture) card in workshops held across the globe with delegates representing more than 3000 organizations!…..you can see how old it is, the IT guy is holding a floppy disk! My daughter of 21 asked me ‘What is he holding in his hand’?
This card is regularly chosen by both Business and IT people in ABC workshops.
Fact: I have asked more than 15000 people at global IT conferences ‘How many are ‘doing’ ITIL®’? more than 85% of the hands go up. I then ask ‘Put your hands up if you can tell me the definition of a service according to ITIL®’?……about 5% of the hands go up. So what! I hear you say, that’s not important. Read the next bit.
A service is ‘a means of delivering VALUE(V) to customers by facilitating OUTCOMES(O) they want to achieve without the ownership of specific COSTS(C) and RISKS(R)’ – VOCR.
When I ask ‘Why is YOUR organization doing ITIL® – V, O, C, R’? Very…..VERY…. few know! ‘…to be more effective and efficient’ somebody will say. ‘What will that look like in terms of quantifiable VOCR’? ‘….Errr…..’ is the answer.
Next time you are standing at the Coffee machine ask people the definition. If they don’t know then tell them. More importantly tell them in the context of what YOUR organization is hoping to achieve…..This is your first step in creating an ‘attitude shift’ towards thinking about Value. Read more...
How Best to Determine the True Business Value of IT? - ITChronicles
As IT becomes more critical business success, IT leaders must become more adept at framing the value of their efforts in terms of primary business concerns. These include cost, revenue, risk, and valuation. Learn more...
Among nearly 200 insurance executives recently surveyed, more than half (54%) said their organizations are using machine learning (ML) to improve predictive analytical modelling. More accurate models lead to better decisions. Learn more...
Insurance Industry Rapidly Adopting Machine Learning - ITChronicles
Earnix, a provider of analytics solutions for the financial services industry, today announced the results of a global survey of insurance executives, which shows wide adoption of Machine Learning across the globe, and the expectation that ML will bring “significant” change to the industry over the next three to five years.
Over half (54%) of the almost 200 insurance executives surveyed said that their organization was using Machine Learning for predictive analytical modelling. Of those deploying the technology, 70% said they were using it for risk modelling; followed by demand models (45%) and fraud detection (36%).
Although nascent, most companies using Machine Learning have realized measurable benefits. Over half of the respondents (57%) said that Machine Learning has made their analytical models far more accurate, which has led to better risk assessments, and ultimately better decisions.
The survey found that the main barrier to wider adoption is a lack of knowledge and expertise within organizations. Eighty-two percent say their organization is relatively inexperienced with Machine Learning.
A note to my friend DevOps from ITIL®
As for DevOps, frankly most of us think it looks great. It's at the top of the hype curve and I can't help feeling excited about it.
Centrinet has published a free guide aimed at helping businesses to assess the strength of their cybersecurity measures in this era of regulatory compliance
Free Guide Offers Cyber Security Help to Businesses - ITChronicles
Application virtualization solutions have published a free e-book, 'The Only Checklist You’ll Need to Uncover Your IT Security Risks.' offers to help businesses assess their cybersecurity.
