Chief data officer
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A chief data officer (CDO) is a corporate officer responsible for enterprise-wide governance and utilisation of information as an asset, via data processing, analysis, data mining information trading and other means. CDOs have various reporting lines including to the Chief Technology Officer (CTO), Chief Information Officer (CIO), Chief Executive Officer (CEO), Chief Marketing Officer (CMO) or the Chief Strategy Officer (CSO).
The Chief Data Officer title shares its acronym with the Chief Digital Officer but the two are not the same job. The Chief Data Officer has a significant measure of business responsibility for determining what kinds of information the enterprise will choose to capture, retain and exploit and for what purposes. However. the similar-sounding Chief Information Officer often does not bear that business responsibility, but rather is responsible for the information systems through which data is stored and processed.
History and evolution
The role of manager for data processing was not elevated to that of senior management prior to the 1980s. As organizations have recognized the importance of information technology as well as business intelligence, data integration, master data management and data processing to the fundamental functioning of everyday business, this role has become more visible and crucial. This role includes defining strategic priorities for the company in the area of data systems and opportunities, identifying new business opportunities pertaining to data, optimizing revenue generation through data, and generally representing data as a strategic business asset at the executive table.
With the rise in service-oriented architectures (SOA), large-scale system integration, and heterogeneous data storage/exchange mechanisms (databases, XML, EDI, etc.), it is necessary to have a high-level individual, who possesses a combination of business knowledge, technical skills, and people skills, guide data strategy. Besides the revenue opportunities, acquisition strategy, and customer data policies, the chief data officer is charged with explaining the strategic value of data and its important role as a business asset and revenue driver to executives, employees, and customers. This contrasts with the older view of data systems as mere back-end IT systems.
More recently, with the adoption of Data Science the Chief Data Officer is sometimes looked upon as the key strategy person either reporting to the Chief Strategy Officer or serving the role of CSO in lieu of one. He has responsibility of measurement along various business lines and consequently defining the strategy for the next growth opportunities, product offerings, markets to pursue, competitors to look at etc. We see this in organizations like Chartis, AllState and Fidelity
Early CDO Appointments
- Cathryne Clay Doss of Capital One was appointed chief data officer in 2003.
- Usama Fayyad, Chief Data Officer and Senior Vice President of Yahoo!, one of the first to officially hold this job title.
- Thomas Mueller, chief data officer at Allied Management Group.
- Mario Faria, a director of Boa Vista Serviços, a credit bureau information services company based in São Paulo, Brazil, is the first chief data officer of Latin America and was appointed for the position in 2011.
Notable example CDOs
- John Bottega became the chief data officer of CitiGroup's Corporate and Investment Banking (CIB) unit. He is currently the CDO of the New York Federal Reserve and Chairman of the EDM Council.
- The major US cities of San Francisco, Chicago, Philadelphia, Baltimore and New York also have Chief Data Officers.
- The US Army has a Chief Data Officer
- The US Federal Communications Commission has several Chief Data Officers
- The Seattle Children's Hospital has since 2007 a Chief Data Officer in charge of both a Lab (Bioinformatics and High-throughput Analysis) and Business analytics (strategic development and resource management of the hospital, economic modeling...).
Industry and geographic trends in CDOs
Many major Banks and Insurance companies, subsequent to the credit crisis of 2008, created the CDO role to ensure data quality and transparency for regulatory and risk management as well as analytic reporting.
Various branches of US Government have CDOs.
The CDO role is far more common in the United States than elsewhere. However several European banks have a CDO.
- Delort P., OECD ICCP Technology Foresight Forum, 2012. http://www.oecd.org/sti/ieconomy/Session_3_Delort.pdf#page=13
- Yahoo Media Relations Accessed on August 22, 2005.
- "Citigroup Names Bottega CDO" Wall Street & Technology
- "The Role of the Chief Data Officer" by Jane Griffin
- A New Corporate Position: Chief Data Officer by Mingbo Gong Accessed on November 2, 2012.
- "The War for Data Talent" - Heidrick & Struggles
- "The role of the Chief Data Officer in Financial Services" - Deloitte
- "Chief Data Officer - new in the C-Suite" Analytics magazine
- "Chief Data Officers Are Foresight, Not Fad" - Gartner Research
- "Your C-Suite Needs a Chief Data Officer" - Harvard Business Review Blog
- "The Chief Data Officer, from CIO to CDO, in Big Data 2013, turning the data deluge into decisions