It was "the biggest single information systems project the world has ever seen," said one CIO. It was early 1996, and Y2K update and replacement work was starting to consume IT departments worldwide. It would cost companies an estimated $400 billion to $600 billion to ensure that their systems didn't fail because of a programming date-field shortcut. Banks were particularly vulnerable because so many of their functions are based on the time-money equation. Our cover story, "Time's Up," was a warning: If you're not already on the Y2K case, get on it -- and make sure your supply chain partners do the same. People still debate whether the mad Y2K scramble was much ado about little, since the year 2000 arrived with barely a computer glitch. Perhaps Y2K was the most expensive better-safe-than-sorry project the world had ever seen.
The Business of Going DigitalDigital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
InformationWeek Tech Digest, Nov. 10, 2014Just 30% of respondents to our new survey say their companies are very or extremely effective at identifying critical data and analyzing it to make decisions, down from 42% in 2013. What gives?