Chief data officers (CDOs) handle many tasks within an organization. They oversee data quality and strategy, as well as data governance. This main job is to ensure the business gets the maximum value from the data it gathers.
What is a CDO?
While the position of CDO is a relatively new one within organizations, these individuals do more than liberate data silos and ensure compliance with data protection and privacy regulations. They are now charged with offering valuable insights into the data collected and monetizing this data, even when it comes from a multitude of sources.
This individual must be skilled in many areas. They need a full understanding of data science, analytics, and business processes. In addition, they need to have knowledge of supply chains, marketing initiatives, and more. To learn more about the job duties of these individuals, discover this info here.
How Does the CDO Differ from the CIO?
The CDO takes on different responsibilities than the CIO (Chief information officer). The CIO focuses more on the gathering and storage of data. The CDO, in contrast, works to monetize this data while ensuring it is used properly. Individuals functioning as chief data officers need to ensure others understand their value and the work they do within an organization.
How the CDO Came Into Play
While business owners have always collected data, the volume has grown exponentially as computers become more commonplace. IT departments could no longer keep up with this volume, and the CDO position was created to handle data management and oversight. According to Realtimecampaign.com, the duties of this individual have increased over the years in response to a changing business environment. For example, a school such as the University of Miami uses data analytics programs online when completing these tasks.
Duties of a CDO
Today, CDOs are asked to handle many jobs. This includes developing corporate practices in relation to data protection and privacy, establishing mechanisms to ensure the trustworthiness of data, and organizing all data coming in.
The Importance of the Chief Data Officer
In the past, individuals in this position would often need to use 8 Strategies for Chief Data Officers to Create — and Demonstrate — Value. Today, however, more people recognize how important CDOs are to an overall organization. This individual oversees all enterprise-wide data and information strategies. They have their hand in policy development, governance, and more. All tasks they manage are designed to create business value.
The role of the CDO will probably increase in the future, as data is being collected at an astounding rate. More companies now recognize how integral the CDO is to monetize the data that is collected. Doing so improves all areas of the business, including employee engagement and the customer experience.
Countless companies have yet to finish the digital transformation. This remains a work in progress or they have yet to get started on this journey. As more companies do so, CDOs and data analytics programs will increase in demand. The supply must be available to meet this demand, so every business can benefit from the data offered today.
Media Contact
Company Name: Realtimecampaign.com
Contact Person: Media Relations
Email: Send Email
Phone: 407-875-1833
Country: United States
Website: Realtimecampaign.com