The era of big data and analytics has arrived, and with it a new leader is emerging—the Chief Data Officer, or CDO. As the reliance on real-time, trusted data grows, high performing organizations realize the need for an executive business leader to across the C-suite to accelerate innovation and transformation.
Executive sponsorship and mandates empower the CDO to:
Provide a single point of accountability
Deliver an enterprise-wide view of data and analytics
Ensure data integrity, reusability and protection
Generate insight about customers, markets, processes, and compliance
Prioritize the “greater good,” even when it’s not the easiest or quickest approach
CDOs are fundamentally different, going beyond traditional roles to:
Act as a bridge between the data and the business opportunity
Find new value and support a new basis of competition
Uncover quick wins that provide an immediate return, while creating a platform that delivers long-term value
CDOs accelerate the move away from skewed, intuition-based decision making. A CDO shifts the focus by providing the empirical data that corrects subjective biases.
This is the biggest challenge, and a CDO’s greatest opportunity, to make an impact on the business.