In recent years, there has been a significant rise in the appointments of Chief Data Officers (CDOs), in both the public and private sector. This is a result of data becoming an increasingly important strategic asset to businesses and public authorities. It is the CDO’s duty to manage this enterprise-wide data and ensure that it is utilised to drive revenue and new business opportunities and cut unnecessary costs. Essentially, to monetise data: to maximise efficiency, drive an increase in revenue and improve service to clients.
However, the position of the CDO is ill-defined, varied and even controversial. Although it is increasingly apparent that data-driven organisations outperform their competitors, the role of the CDO is still under development. The challenges and complexities faced by the new CDOs of this world are wide-ranging.
Not only is the CDO’s position within the C-Level chain of command varied per organisation and at times, ambiguous, they also face the difficulty of striking the balance between IT and business; technology and strategy. Moreover, CDOs are being readily challenged by the ability to keep data management costs low, whilst adhering to increasingly stringent regulatory demands. As well as producing results and analysis of value to their organisation, and getting their voices heard in the boardroom amid the web of C-Level executives and business politics.
Following the success of the Chief Data Officer European Leadership Forum 2014 this February, the CDO European Forum is returning to London this October and explore the role of the CDO in more detail than ever before, whilst addressing your most pressing data challenges. The CDO European Leadership Forum 2014 is not be missed.