Thanks to the headlines, the average person probably thinks a Chief Data Officer’s role is locking down an organization’s databases against hackers and sending out “Our privacy policy has changed” emails. But for organizations leading the way in digital transformation, the CDO is responsible not for corralling information, but for creating value. They play increasingly-critical strategic roles in using existing resources to uncover hidden opportunities, create disruptive innovations, discover new possibilities and unlock meaningful competitive advantages.
There’s certainly value in the traditional security function, and good CDOs work proactively instead of reactively to ensure data integrity. The true value of the Chief Data Officer, however, is their ability to uncover and monetize value in information throughout the entire organization. That’s why organizations have moved it into the C-suite, with all the leverage that provides. With a C-suite role, leaders can bring together cross-functional teams to unlock dormant potential in assets that already exist in functions such as human resources, financial reporting, project management, stakeholder communications, business process reengineering and more.
Effective leaders are transitioning their organizations into what we call Analytics Centered Enterprises (ACE), combining people, process, and technology elements to handle challenges and unlock opportunities. At Reliable Software, we help teams develop an “analyze, learn, act, report” cycle that works for their organization’s unique needs. We work closely with CDOs to help them unlock the potential of their organization’s information to improve and enhance decision-making capabilities, enable increased agility to react to changing market conditions and facilitate sustainable, long-term growth.
Information transforms businesses. By taking on the responsibility of data-driven strategic innovation, CDOs are transforming the way businesses unlock the power in their information.
Interested in strategic counselling to maximize the effectiveness of the CDO in your organization? Contact us today to learn more.
