¶ … digital age has influenced everything from the way in which knowledge is created and disseminated to the various ways in which it has been consumed. The same is true in business. Most businesses across the globe function on the basis of some form of information technology (Cortada, 2009, p. 1). For this reason, the CIO has become one of the most important positions in companies today. In addition, the effective use and application of the most recent developments in this field help businesses remain competitive. No business today can afford to ignore the importance of IT developments such as cloud computing and analytics. Indeed, these have become all but essential to ensure the survival of a company in an increasingly competitive environment. The importance of these pieces of information technology is undeniable for any business that wishes to increase its competitive edge, improve its leadership, and improve its operations in the long-term. The Internet is one of the most important developments of information technology. This vast platform of connecting everybody on Earth with access to a computer and a connection is then also the basis for cloud computing. Whereas past computing tended to rely on physical computer storage and servers for their programs, cloud means that computer programs can be accessed via the Internet (Beckley, 2013). Many businesses are adopting this technology for its varied benefits and for the extra competitive edge it can provide.

One benefit of cloud computing is its cost-saving potential. Accessing programs and information via the Internet eliminates the need for investing in storage hardware, servers, and other physical infrastructure. It also eliminates the need for maintenance personnel to service the technology. The Internet makes storage space virtual and the likelihood of breakdowns or data loss is lower (Beckley, 2013).

The time investment related to cloud computing is also significantly less. Managers who use cloud computing do not need to invest in time consuming activities such as technical problems or making backups of their work. This allows more time and peace of mind to concentrate on running the business with as much creativity and focus as possible (Beckley, 2013).

Another major advantage is automatic updates. This saves further time and money. Employees are also able to access their work from anywhere with a good Internet connection. This can go a long way towards streamlining business operations by helping employees to do their work when they are free and able to do so or during business trips.

There are few security risks, because cloud computing includes security policies that prevent unauthorized persons from accessing data that is not theirs. Furthermore, since the cloud is non-material and not connected to specific or singular material infrastructure, the company's data is safe from being lost via computer crashes, damage, or loss. Even problems that should occur are mitigated by platform resources until the problems can be ironed out.

As for business analytics, this is another term that many business managers are still trying to work out. According to Griffen (2010), it is simply a term that refers to an investigation of business performance by means of technologies and applications. Understanding the past of business performance, especially in technologically driven accurate ways, can help the business operate better in the future. Business analytics are therefore a very important component of a company's success. The author mentions four components of the business analytics process, which are:

Analytics,

Performance Management,

Business Intelligence, and Data Management.

Each component is an important part of the business analytics process and contributes to the general success of the endeavor. Technology is used to perform data mining, pattern matching, data visualization and predictive modeling. The resulting analyses and algorithms are then used to make better decisions in the future. As such, business analytics are a tool that businesses can use to learn from their past. In this way, events and actions can be analyzed for their impact on the business as a whole, ultimately benefiting the future and longevity of the company.

In addition to the clear advantages presented in terms of the future of the company, there are several reasons to invest in business analytics. One reason is that companies collect a large amount of data via transactions by means of both offline and online systems. Business analytics systems speed up the process of analyzing these in a way that creates a sensible amount of data that predicts future effects for the company. This increased speed of analysis provides greater accuracy and efficiency within the general operations of the business itself. Like cloud computing, the manager can now devote time and resources otherwise taken up by analysis to more business and operations-focuses tasks and creative projects.

Such out of control data can prove crippling a company, because there is no holistic view to indicate a way forward. Such a company is obliged to guess about its future. A company with a good business analytics system, on the other hand, has a platform for better operations and greater capability in the future, as indicated by decisions made in the past.
Compliance needs are a further consideration when investing in business analytics systems. It is much easier and more efficient to ensure that compliance needs are met by means of a good business analytics system than having to do this manually while also attempting to manage risk.

As mentioned above, increased performance and competition are two of the most important drivers for company decisions. Business analytics provides a platform for better competitive advantage in a company, which is a major reason for investing in it. In general, this capability offers managers with the opportunity to make better decisions based upon better insight and finally achieving better outcomes. In order to achieve this, managers must ensure that their IT personnel are sufficiently informed in the new technology or at least have the ability to learn how to use it effectively. It is important to understand that the role of IT personnel change with the changing technology.

The first important component of including effective technology in the workplace is hiring highly knowledgeable and excellent personnel (Lane, 2011). A company's CIO must be familiar or at least willing to continually research and investigate new technologies such as cloud computing and analytics. In this way, a company can trust that any newly implemented technologies will be highly optimized for the benefit of the company as well as its local and global operations.

For this reason, the role of the CIO has fundamentally changed. It is therefore not sufficient for a company to simply have the newest technology, but also to train its personnel sufficiently to handle and use the technology effectively. Hence, if our company is to recognize the importance of cloud computing and analytics for its operations, personnel skills need to be matched to its intricacies. Forward-thinking and creativity are important skills in CIO leaders and professionals, since this, combined with cloud and analytics technology, will determine the growth rate and competitiveness of the company. Hence, it is no longer sufficient for the CIO to merely investigate and acquire new technology that would enable his company to use cloud and analytics, but also to implement these in such a way that it optimizes the company and its operations.

The CIO should also recognize the complexity of the current technology and be able to handle it in such a way that it benefits the company. Indeed, not only internal operations are affected by cloud computing, but also the way in which a company functions within the external business world, i.e. connecting with its customers and determining risk factors such as competition.

Another factor related to implementing cloud and analytics technology is recognizing the need to develop existing business platforms in such a way that these technologies actively assist the business in its competitive edge rather than complicating an already complicated set of operations. This will also be the task of the CIO.

As seen, cloud computing has many advantages for a company. It saves considerable initial and recurring costs in terms of infrastructure installation, repairs, and maintenance. It also offers greater efficiency and speed of operations, while streamlining a company's work, even from several locations. Business Analytics also creates greater speed and efficiency, while increasing decision-making abilities.

Hence, although cloud computing, business analytics, and personnel training in these technologies may take considerable investments of time and/or money at the outset, the long-term benefits of these implementations far outweigh their initial costs. Indeed, the greater efficiency and speed with which business operations can be conducted, the greater safety of data, and the better decision-making capability will benefit the company in the long-term.

References

Beckley, M. (2013). How the Cloud is Changing the Roe of Technology Leaders. Retrieved from: http://www.wired.com/insights/2013/09/how-the-cloud-is-changing-the-role-of-technology-leaders/

Cortada, J. (2009). How societies embrace Information Technology. Hoboken, NJ: John Wiley & Sons, Inc.

Griffen, J. (2010, May). Clearing the Confusion: the What and Why of Business Analytics. Information Management. Retrieved from: http://www.deloitte.com/view/en_us/us/9f1e95c623f38210VgnVCM100000ba42f00aRCRD.htm

Lane, D. (2011) "The Chief Information Officer's Body of Knowledge…