The C-suite is getting increasingly crowded, and the Chief Digital Officer (CDO) is one of the more recent entries. CDOs are seeing their stock increase as organizations look to them to help build an analytics strategy. In an article for InformationWeek, John Edwards describes the many challenges that CDOs are currently eagerly confronting.
Expanding Digital Leadership
CDOs are providing the enterprise-wide data governance that allows data of all types to be used in effective ways:
Besides ensuring that data governance and reliability benchmarks are established and running properly, a CDO must confirm that all functional groups, operational applications and analytical applications are accessing information from a single source of truth. CDOs are also expected to promote and manage a wide range of organizational initiatives. “Compliance teams may expect the CDO to help them meet new standards like the General Data Protection Regulation (GDPR), while marketing teams may expect the CDO to help them understand their customers and accounts better and incorporate advanced analytics and machine learning technologies to make better decisions and drive sales,” explained Anastasia Zamyshlyaeva, chief architect at data management and analysis service provider Reltio.
Right now, only 10 percent of CEOs are monetizing information assets via selling or bartering, so CDOs are also in a good position to expand efforts there. Like the CIO, CDOs are expected to become business partners and work with a business-driven (as opposed to technology-driven) mindset. Nonetheless, CDOs are likely to come from an IT background, since knowledge of technology is clearly still critical to the role.
For further explanation of the many responsibilities of the CDO moving forward, you can view the full article here: https://www.informationweek.com/big-data/big-data-analytics/cdos-prove-their-worth-in-an-analytics-driven-business-world/d/d-id/1330938