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"Unlike a CIO at a true start-up, which has a clean technology slate from which to build efficient IT systems, I inherited an eclectic mix of technology infrastructures that somehow had to be melded into a cohesive, state-of-the-art IT organization."

Virgina Guthrie, former CIO, Dr Pepper Snapple Group (talking of the IT and Operations Simplification Program she ran at Dr Pepper)

Virgina Guthrie, former CIO, Dr Pepper Snapple Group (talking of the IT and Operations Simplification Program she ran at Dr Pepper)

The Analytics CoE: The Key To Monetizing Big Data via Predictive Analytics

"Data is the new oil" was Ann Winblad's, the legendary investor and senior partner at Hummer-Winblad, response on CNBC's Squawk box for what is the new big thing. Data is like crude, it will be more valuable when refined into something like gasoline. Selling big data has little value, but if one can add insight via analytics then we have the opportunity to monetize it.

An estimate suggests that in 2014, the US alone has a shortage of more than 175,000 data scientists and 1.5 million managers or analysts who know how to make decisions based on analytics. Analytics COE can help you plug this gap. The key to monetizing Big Data via predictive analytics is for IT to build the Analytics COE that understands the needs and challenges of every data scientist, and your business.

This article is best suited for:

C-Suite, CIOs and Senior IT Managers seeking to invest in next gen IT and Digital solutions

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CIO Straight Talk, sponsored by HCL Technologies, is a global community of IT leaders who believe in the value of sharing actionable, experience-based professional insights. This occurs through a variety of mediums: Straight Talk Live! events; The CIO Straight Talk publication; The Straight Talk Interactive LinkedIn community and Webcasts by CIOs. The content ranges from the latest in IT, to disruptive technology trends to IT-driven business transformation.

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