What’s a CDO? Who cares? If you are in Finance or IT, you Should Care


The CDO is the Chief Data Officer.  According to Gartner its a role that existed in only 400 organizations world-wide in 2014 but will exist in 90% of large enterprises by 2019*. So, why should finance care? There are several reasons but the most pressing one is that Gartner also says that only 50% of CDOs will be deemed “successful”.

It is in the best interest of CFOs to understand the CDO role: what it is, what it does, and why it is necessary. The cost of adding a C-level executive role in a large organization is significant and a 50% failure rate is very high.  CFOs should educate themselves on this role to ensure that when their organization adds a CDO to the C-suite that they end up in the 50% that add this role successfully not the 50% that fail to achieve value from this will be a multi-million dollar investment.

In our Progressive CFO thought-leader series we recently interviewed the CDO of Unicredit on the role, why it was created at this large multi-national bank, and how this role will evolve in the coming years. It was very interesting for me to hear directly from a newly appointed CDO what the rationale for the position was and the future direction and impact of the role in large enterprises.  

* Predicts 2016: Information Strategy, Gartner, December 9, 2015

 

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