The CDO’s Role has Changed
Driven by the EU’s General Data Protection Regulation (GDPR), the Chief Data Officer’s (CDO) role is changing and expanding to one that, in many cases, is working alongside or merging with the traditional CIO role.
Originally, CDO hires were driven by the increase in big data responsibilities and regulations but, as the CDO job has evolved, it now encompasses the use of new technologies and analytics, including AI and IoT, to improve a company’s strategic use of data.
The CDO is Becoming a Value-Driven Role
According to a report by Forrester, the CDO is no longer a defensive role that primarily focuses on the protection of information but more of an opportunistic, offensive one that focuses on delivering value from data.
When the pressing regulations surrounding data governance and quality have been dealt with in the lead up to the GDPR deadline, the CDO will naturally move into a role responsible for changing data culture across the organization. At this stage, they’ll be increasingly involved in building an infrastructure for revenue creation as well as risk mitigation.
It’s this change that has impacted the demand of CDOs. Once forecasted as a short-term positon that would eventually phase out after regulations were enforced, the CDO has now put down roots and has no plans to leave.
Forrester confirms that CDO appointments are on the rise, with a survey showing that 45% of the global businesses who responded already have a CDO in place. A further 16% are planning to recruit one in the next 12 months. Gartner echoed these findings in their report that showed there had been a 57% increase in CDOs in 2017 – up on the previous year.
Business Performance Boosted by CDO Appointments
The value delivered by CDOs is clear. Chief Data Officers are now having greater say and carry serious weight in the organization – and they’re impacting the bottom-line, too. Forrester’s study revealed a strong correlation between hiring CDOs and increased business performance. According to their report, ‘top performers are 64% more likely to appoint a CDO’.
The new breed of CDO is a role that requires a different approach to recruitment than the previous model. With a unique blend of skills and increased clout in the organization, today’s CDO one of the most wanted positions in tech.
If you liked this article, you may find this article interesting: GDPR and Who to Hire to Become Compliant