The Chief Data Officer

Quotes from well recognized data & analytics thought leaders

May 14th, 2014

Mario Faria

http://www.cdo-inc.com/

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Who I am

•  Recognition as one of the 1st Chief Data Officers in the world •  Thought leader in Data Management, Data Science, Analytics,

CRM, Supply Chain and Operations Management •  20+ years working with Information Technology, Management

Consulting, Financial Services, Retail, CPG and Private Equity •  Regular speaker at conferences throughout the world •  Contributor to magazines and publications •  Helping companies cross the Data & Analytics Chasm

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On  the  role  of  the  Chief  Data  Officer  

By  2015,  25  %  of  Large  Global  Organiza>ons  Will  Have  Appointed  Chief  Data  Officers  

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The role of the Chief Data Officer

Data scientists are looking for insights

The insights are operationalized in BI/DW products, by data architects

The insights are shared with the enterprise The Chief Data Officer is the executive

responsible and accountable for the data life cycle inside the organization, managing the

people involved in the data activities, such as acquisitions, analytics, processes,

governance, quality, technology and budget

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Chief Data Officer / Chief Analytics Officer Data Architect

Data Quality

Data Scientist

Data Governance Data Operations

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The mind set of a Data Leader •  Handle data management not as project,

but as an evolving process •  He/she is there to break the data silos

inside business •  Know how to move from products to

platforms •  Able to accelerate revenue by creating new

business models and offers •  Speed up the current cycle time •  Work together with customers (internal or

external) •  Create an agile and lean organization

How prepared is your business to have

someone accountable to manage the data

assets ?

“The Data Asset: How Smart Companies Govern Their Data For Business Success” - by Tony Fisher

I have been very fortunate in my life to have met some of the most well recognized data & analytics thought leaders of our time. Here

is what they think about data management, analytics and the

Chief Data Officer role

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“The Chief Data Officer inside your company will succeed if that person has dedication solely to leveraging data assets, is unconstrained by an IT project mindset and reports directly to the business”

Peter Aiken

CEO at Data Blueprint, President of DAMA International and author of several data management books

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“For data, only 2 moments really mater : the moment of data creation and the moment of data use. And they don’t happen in IT”

Thomas Redman

"the Data Doc," Navesink Consulting Group and author of the book Data Driven: Profiting from Your Most Important Business Asset

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“Data is a critical asset. It enables operational understanding of business. It provides a window into risk and opportunities. But like any important asset, it must be managed efficiently and effectively, and it must be everyone’s business within a firm. Data Management is about culture change. It can no longer be “someone else’s responsibility”. It must be the responsibility of every individual within a firm to ensure that the data they provide into the operational workings of a firm is accurate, complete and timely. Improving the data supply chain is the operational objective. Unless you have command and control over the flow of data, from source to transformation to persistence to distribution to consumption, you cannot enable the “outcome” of data quality”

John Bottega

Distinguished CDO and Chairman of the EDM Council

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“The Chief Data Officer and the data team are responsible and accountable for the 4 As of data : keep it Accurate, allow it to be Accessible, make it Actionable and use advanced Analytics to deliver results"

Derek Strauss CDO, TD Ameritrade and author of the book

DW 2.0: The Architecture for the Next Generation of Data Warehousing

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“A great measure of success for CDOs is when executives are willing to give you their budget for the data initiatives. And now that the technologies of data analytics have gotten so good, we are limited by a shortage of people who can ask the right questions”

Anthony Palella VP Analytics, Angie’s List

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“Our mission is to leverage data and analytics for business applications that drive company growth and client loyalty. That focus will deliver the real value of data to an organization”

John Carter SVP, Analytics, Insight & Loyalty at

Charles Schwab

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“Thinking about how data can be leveraged to support business needs, and having a Chief Data Officer working collaboratively with the Chief Information Officer, particularly in data-intensive environments, is a really nice partnership”

Micheline Casey

Chief Data Officer at the Federal Reserve Board of Governors

Source : Fedscoop (http://goo.gl/HGU59T)

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“I just saw an online discussion about the role of a chief data officer, whether it should be more about data or analytics. My initial response to that question is "neither." A chief data officer must represent the business first. Nonetheless, if I really have to pick just one out of the two choices, I would definitely pick the analytics over data, as that is the key to providing answers to business questions ”

Stephen H. Yu President, Willow Data Strategy

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“if I had to pick one word to describe what a Chief Data Officer does, it would be neither data nor analytics. It would be strategy”

Inderpal Bhandari

CDO at Cambia Health Solutions

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“The value of data quality improvement programs are often understated in business cases by a factor of 3. Most companies do not understand all the downstream systems and resources that are impacted by poor data quality. There are hidden costs everywhere that are hard to find and measure - but they are real ”

Maria C Villar

Global VP, Data Management & Governance, SAP

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“CDOs provide their organisation with the strategy and leadership needed to gain the full value from the data it collects. They do this by getting the organisation to take responsibility for the information quality and by improving the accuracy of the data it collects in order to enhance both the authority of the answers from traditional reporting and the depth of insight to be gained from modern analytic techniques"

Michael Servaes Information Development Strategist

at the British Army

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“Analytics allow the leaders of today and the future to be measured not only by decisiveness and responsiveness, but by the accuracy and effectiveness of their foresight”

Kevin Mackey

Business Intelligence & Analytics Practice Leader at Point B Management Consultants

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“Data has become the ultimate intangible asset. In raw form, it is useless, yet when used well it becomes priceless. While successful analytics projects get lots of attention, the majority of analytics projects fail to achieve their potential. There is significant room for improvement in how analytic projects are selected, designed, planned, and executed”

Jaime Fitzgerald President at Fitzgerald Analytics, Inc

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“Collecting and storing data has never been easier but only those companies who understand how to maintain the quality of their data assets in order to make data-driven decisions will dominate the marketplace. Companies who take one step further and leverage “now” data versus historical data will be the most successful”

Matt Graves Chief Data Officer at Infogroup

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“Data is not about volume, velocity or variety. It is about the fact that data brings value to your business”

Dan Reznik

Founder and CTO, Upper West Analytics

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“Before you can think smarter about your data, you have to first understand the role it currently plays inside your organization”

Gregory Short Author of the book The Billion Dollar Paperclip

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“Chief Data Officers should spend time talking to the executive leaders, understanding their needs, so they can bring the innovation that business requires”

Cortnie Abercrombie

Emerging Roles Leader, Big Data and Analytics at IBM

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“Marketing will be the largest producer and consumer of data in the enterprise. And very soon, Marketing departments will have a larger technology budget than IT. Software is becoming Marketing’s interface to reality. And Data is the fuel and the exhaust of the customer experience ecosystem"

Scott Brinker

CTO at ion interactive and author of the book A New Brand of Marketing

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“Data needs to be treated as an asset and organizations which have achieved the maturity to understand this, need to have a Chief Data Officer"

Taher Borsadwala

Data Management Strategist at Capgemini

Expressing my thoughts in less than 140 characters.

Some tweets I have created in the last few

months

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•  Being a Chief Data Officer is about 2 things: make your

company succeed and change the culture to be data driven

•  True data driven companies do not make data owned by applications. Data is independent with its specific roadmap. Data lives longer than software

•  It's sad to see what happened to Target CEO. But maybe now we will start to get serious about managing data assets

•  A business case for bringing a Chief Data Officer ? Did you make a business case for bringing a CFO to your company ?

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•  Putting a great data & analytics team together requires you to define the objectives and hire talented individuals who believe in the mission

•  Data, people and technology are assets. However, if you do not treat them as so, they will become liabilities

•  How to succeed as a Chief Data Officer : find where your company is loosing money and build your case up from there

•  Some CIOs say:"No! Data is my responsibility.Go away". However mature CIOs understand the CDO function is complementary to their role

If your organization is going to hire a Chief Data Officer to

be responsible for the data & analytics activities,

remember …

It will take some time for the results to show up

An upside investment in technology is needed

The CDO needs a team to manage, operate and analyze the data assets

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I would like to say thanks to everyone who helped me to create this material Mario Faria Chief Data Officer and Analytics Strategy Advisor http://www.cdo-inc.com www.slideshare.com/fariamario Twitter : @mariofaria mario.faria@cdo-inc.com