December 09, 2016
December 09, 2016
Contributor: Susan Moore
The growing importance of the chief data officer reflects the central role of information in digital business.
The rise of the chief data officer (CDO) demonstrates the increasing need for overt leadership of data-driven digital business, as well as to champion the value of data assets.
“The concept of considering information an asset is becoming increasingly pervasive,” said Alan Duncan, research director at Gartner. “Despite this, the disciplines required to be effective in managing information as an asset and maximizing the business value from it are not yet widely practiced.”
According to Gartner’s research, the CDO role is still new in the large majority of companies — more than 80 percent assumed the role in the last two years, and 60 percent of current positions were created in 2015.
Whether an aspiring CDO or an executive leader seeking to appoint one, it helps to know what people currently performing this function are responsible for:
CDOs' common work experiences and prior roles include:
There are three main characteristics that will lead to success in the role. CDOs must:
While a relatively new role, the increase in the number of appointed CDOs reflects the rising number of organizations that are taking data and analytics aspects seriously and preparing for them. It’s important to adopt responsibility for ensuring information-based business transformation, value creation, operational efficiency and improved risk management.
Successful CDOs will be able to influence the culture and behavior of peers and colleagues, pushing the organization to become more data-driven, information-centric and analytical. As the role matures and demands increase, successful CDOs will recognize the different cultural characteristics needed to highlight the business value of data.
By focusing on these linkages, CDOs will be able to create business relevancy and establish themselves as the catalyst for data-driven business value. There’s a clear opportunity to become the individual within the organization who identifies, articulates and evangelizes the business value of data in support of better business outcomes.
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