Alright, folks. Listen up. In today’s business landscape, we got a whole bunch of so-called “chief data officers” running around. But here’s the thing, nobody really knows what the hell they do or how they actually add value to a business. It’s a mess, my friends. A real mess.
See, one of the problems is that these CDOs are too focused on data management. They’re all about moving data to the cloud or switching up data warehouses, but it’s expensive and time-consuming. And let me tell you, it often fails. And what’s worse, these CDOs end up with short tenures because of it.
According to this guy Thomas Davenport, who’s a professor at Babson University and knows a thing or two about this stuff, he says that data governance is a major pain in the ass for CDOs. It’s all about getting people to change their behavior, and that’s never easy. In fact, it’s usually a recipe for failure. So yeah, it’s a real challenge for these CDOs to prove their worth.
But fear not, my friends! Davenport has come up with eight ways these CDOs can show their value:
1. Add an “A” to the CDO title.
Now, listen up, CDOs. If you want to prove your worth, you gotta take responsibility for analytics and artificial intelligence. See, if you can use data to make a real difference in things like employee satisfaction or customer relationships, then you’re on the right track. And hey, you don’t even need to be a data analytics expert for this. It’s all about the business side of things, my friends.
2. Embrace data products.
This one’s simple, folks. Take your data, mix it with some analytics and AI, and boom, you got yourself a data product. And let me tell you, that’s gonna create some serious value. But here’s the secret sauce, you gotta have someone overseeing the whole process. Get yourself a data product manager who can be the go-between for the business leaders and the data nerds.
3. Measure and document results.
Alright, CDOs, here’s a no-brainer. If you wanna prove your worth, you gotta measure what you’re doing. I mean, come on, it’s common sense. Bring in the finance team to help you figure out the value of your data initiatives. And hey, it’s not just about saving time with AI and automation. You gotta show some real ROI, my friends.
4. Build relationships with business peers.
Now, listen closely, CDOs. Not everyone is gonna get on board with your data and analytics plans. But that’s okay. Find yourself some leaders who see the value and can be your champions. Once they’re on your side, they can help convince the rest of the organization.
5. For low-maturity organizations: Zero in on a few use cases.
Alright, here’s one for the newbies in the data game. If your company is just starting out, don’t overwhelm yourself. Focus on a few key use cases and knock ’em out of the park. Show some quick wins, my friends.
6. For high-maturity organizations: Build out analytics/AI infrastructure.
Now, for you seasoned pros out there, it’s time to level up. Scale up your initiatives, my friends. Build that analytics and AI infrastructure. Create reusable datasets and features to make life easier for those data scientists. And don’t forget, you gotta show the value every step of the way.
7. Focus on governance without the baggage.
Governance, my friends. It’s a necessary evil. But here’s the thing, you gotta make it easy for people to do the right thing with data. Build it into your systems and architecture. Get yourself some marketplaces and catalogs. And hey, throw in some reusable assets while you’re at it. Trust me, it’ll make a difference.
8. Create a data-driven culture.
Alright, folks, this one’s a toughie. Most companies out there don’t have a data-driven culture. And that’s a problem. But don’t worry, we can fix it. It’s all about targeting specific functions. Different departments have different data needs. So focus on that, my friends. And hey, don’t forget to track your progress. You gotta have some metrics to show you’re making a difference.
So, there you have it, folks. Eight ways these CDOs can prove their worth in this crazy world of data. Now go out there and make a difference!
Oh, and before I go, check out this survey about data officers’ priorities and challenges for 2023. It’s some interesting stuff, my friends.