The infographic below comes from Raconteur.net, and it breaks down organizational perspectives on the role of the CDO, along with how execs in this fast-evolving position are allocating their time to achieve their mandates.
Approximately 90% of large global organizations will have a CDO by 2019, and the general mandate for most CDOs will be as follows:
- Data Integrator: Raw internal data exploration, diagnostic analytics, and value-added data quality and integration
- Business Optimizer: External context and benchmarking, cost-reduction analysis, and business-driven growth opportunities
- Market Innovator: Data monetization, cognitive trend analysis, and innovative business models
In addition, under the European Union's General Data Protection Regulation (GDPR), a company will often also need to appoint a Data Protection Officer (DPO). This DPO will independently assess and audit the way data is managed in the company, and it is crucial that the CDO learns to work with the company's DPO since the DPO is independent. It is the CDO's job to immediately address any concerns the DPO might raise, while still ensuring valuable data can be utilized optimally.
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