Strategies for Chief Data Officers to Create — and Demonstrate — Value
CDOs are responsible for achieving data management objectives that are difficult to accomplish and to measure. Based on a study sponsored by Amazon Web Services and in collaboration with the MIT CDOIQ Symposium, Davenport found that CDOs feel that their jobs are poorly understood by colleagues and that they spend time on a long list of responsibilities. In this presentation Davenport describes the activities that can help CDOs achieve economic value that is visible to their organizations. They include such activities as:
- Focusing on analytics and AI as a key job component
- Employing data product management approaches to ensure value delivery
- Undertaking data management activities in the context of analytics and AI projects.
While many factors determine success in a particular role, interviews with CDOs confirmed that these value-creating activities increase understanding and appreciation of the initiatives they have undertaken. Some activities are more appropriate for companies with sophisticated data and analytics capabilities, while others are more valuable to less experienced organizations.