Unclear Mission: The Chief Data Officer’s Front Line
Most organizations recognize the importance of performing data analytics, and many appoint a dedicated management position (chief data officer (CDO) or chief data analytics officer (CDAO)) for this purpose. assigning. But newly formed CDOs and other data analytics proponents still face daunting obstacles. It’s a rebellious corporate culture.
This is the challenge cited in a survey of senior data and analytics executives published by Wavestone NewVantage Partners. Study authors Tom Davenport and Randy Bean said: “The turnover rate of enterprise data and analytics leaders remains high. Investments in data and analytics capabilities and initiatives have never been greater, yet organizations are building these capabilities into their organizations. are beginning to realize that it takes time to transform the culture of an organization.”
The study authors say that less than 2% of respondents cite “data literacy” as a top investment priority, further exacerbating the challenges faced by data leaders.
CDO and CDAO titles within organizations are proliferating. In this year’s survey, 83% of organizations reported having appointed their CDO/CDAO, up from his 12% in the first survey conducted in 2012. But its role is still not as clear as it should be. Only 41% of companies report that he has a good understanding of the CDO/CDAO role within his organization. In contrast, 36% report a well-defined role, down 12% from a year ago. “These results reflect both a lack of maturity and a lack of clear expectations for CDO/CDAO functionality, but also the newness of the role,” write Davenport and Bean.
However, research shows that cultural factors remain the biggest obstacle to delivering business value from data investments. Data 80% of his leaders cite cultural issues as “the biggest impediment to realizing business value.” This is because change is rarely easy and organizational transformation proceeds slowly. It reflects a trend.”
Today, only 24% of organizations consider themselves data-driven, and only 21% have what can be considered a data culture. “The human dimension of data continues to challenge enterprises, and data leaders and the organizations they serve seem reluctant to change the paradigm to focus more on these issues. said Davenport and Bean. “Each year, in recent surveys, a majority of respondents report that the main challenge to becoming a data-driven organization is not technology, but culture, people, process or organization. They have made little progress toward that goal.”
What does the future hold for the new role of the CDO? The CDO not only oversees analytics and artificial intelligence, but also builds a bridge to the business, enabling leaders and professionals to make the most of their data assets. There is an increasing need to “The evolution of his CDO role over the next 15 years has been integral to the adoption and application of data and analytics among leading companies and organizations,” Davenport and Bean point out. “The role of the CDO has evolved to incorporate analytic responsibilities as it has evolved towards more ‘aggressive’ activities related to revenue growth, business expansion, customer acquisition and service. ”
Turnover in CDO roles remains high, with an average tenure of 20-24, even though more CDOs/CDAOs than ever occupy the highest-level decision-making bodies in large corporations. It’s a range of months,” the author said. .
