Forrester believes the CDO (Chief Data Officer) will see a rise in prominence — in the short term. But certain types of businesses and even generational differences will see less need for them in the future.
For some time, companies had needed a data strategy. Up until this point, most of this has centered around the need to have a strategy about data growth, analytics and running reports. Only lately has there been the need for businesses to let their data tell them answers, not asking their data for answers. Hence the rise of the CDO.
Why does it make sense to embrace the CDO?
Taking titles and positions out of the equation, it is not so important that a CDO is put in place, but rather that companies have a strategy around using their data properly. The Big Data era ushered in the ability for companies to capture huge amounts of data, but most have not had the time to properly learn from it or utilize it. To be honest, who has time. Who has the money, who has the proper resources and people do properly do this? Probably some, but not your everyday company. It is also worth mentioning that with Big Data came big storage costs and hence many companies may not be aware just how much that dormant data is costing them. It’s time to put your data to work.
At CluedIn we hear that the CDO role should entail:
- Solving data noise (i.e. dirty data needs to be cleaned)
- Using the right tools to capture the right data
- Having data reach the people on the ground
- Opening up data to the people on the ground, not restricting it
- Having data help people on the ground, not people on the ground asking data for help
- Enabling a connected company
- Enforcing the importance of data security with individuals. (This is partly the role of the Data Protection Officer).
This will require quite of a lot of hands on experience with the multitude of different frameworks and tools that are already solving these problems and the ability to have these different systems play nicely together. What we would recommend to existing or new CDO’s is to check our CluedIn to help them produce a workplace where data is put to use. You can signup for a demonstration at cluedin.com