From CDO to CDAO how analytics is altering the role of the data chief
Alan Jacobson | April 06, 2020
As businesses welcome digitalisation with open arms, a number of organisational shifts have occurred to ensure the protection and utilisation of their most prized possession data.Consequently, in recent years, the role of the Chief Data Officer (CDO) has become vitally important – responsible for both protecting and making sense of this ever-growing and vastly-complex asset governance. Yet, despite being a relevantly new role within most UK organisations, the CDO is already experiencing a change in core responsibilities to incorporate an increasing focus on analytics.Traditionally, the CDO has been responsible for enterprise-wide governance as well as using data to support wider decision making. This has included undertaking data processing, data analysis, data mining, and information trading – ensuring that data patterns are presented to decision makers in a way they can understand.However, in just a few short years, the world that UK organisations operate in has changed dramatically. With the growth of the digital economy, traditional companies are required to make fast-pasted, accurate and forward-looking business decisions to keep up with their digital counterparts. Therefore, as traditional businesses have undergone digital transformation, there has been an increased focus on data science and analytics to meet this need. According to a recent report, 85 per cent of organisations globally are using AI in deployed applications. However, according to PwC, only 30 per cent of UK executives would describe their organisation as highly data-driven. This highlights the need for someone in the business to drive forward the use of analytics for corporate strategy and innovation.