FRAMINGHAM (08/15/2000) - One of the most enjoyable aspects of my job here at CXO Media is interacting with lots of very smart people on the staffs of CIO and Darwin.
Hardly a day goes by without the exchange and evaluation of ideas--CXO Media's bread and butter. Our company culture encourages collaboration around ideas.
Yet the fact remains that we shoot most ideas in the foot because we do not have the human or fiscal bandwidth to adequately implement them. It is probably the same at your company.
About three years ago, I was sitting at a CIO Perspectives conference with CXO Media's Cathy O'Leary Hayes, executive vice president of marketing, and Susan Watson, vice president, news and information. Panning the room of 700 attendees, we had a brainstorm: Let's develop a definitive index to measure the future purchase plans and confidence levels of CIOs on a monthly basis.
Our model was the respected and widely distributed National Purchasing Manager Association's monthly poll, which gauges the confidence levels of purchasing managers. Surely, we thought, CIOs have a catbird's view of technology implementation here in America. Wouldn't it be cool to benchmark their buying plans? With technology driving the new economy, couldn't our survey become the definitive tool for demand-side 21st century technology buying plans?
Y2K, and then the exploding B2B dotcom world, sidetracked the idea, but it also gave us the opportunity to meet and work with Ed Yardeni, the chief economist for Deutsche Bank Securities. On July 3, 2000, CIO and Yardeni announced the formation of the CIO E-conomy Index. The index reports by total industry and 12 vertical industries (an important insight for chief information officers who are constantly assessing what their competitors are doing) future spending plans by percentage for hardware, software, services and compensation. It details the percentage of IT budgets invested in B2B and B2C.
How are others in your industry using the Internet to drive revenues, cut costs, determine pricing and hire IT staff? It's all there. Results of the June pilot study can be seen at www.peoplepolls.com/results/CIO/061500.asp. Only panel members, however, will receive the all-important vertical industry data.
The goal of the CIO E-conomy Index is to get 500 chief information officers to participate each month. We also plan to hold a conference each year in New York City to discuss index trends with other CIOs and Yardeni's colleagues from Deutsche Bank Securities.
If you are the CIO of a company that employs more than 1,000 employees, Yardeni and I would like to invite you to join this exclusive club. All data gathered will be kept confidential. Panel members will receive data in an e-mail prior to monthly dissemination via a press release.
The fastest way to get involved is to send an e-mail to Bridget Cammarata, CXO Media's research director, at firstname.lastname@example.org.